SuccessionPlanning 5

Talent Management ..........................the key for success :

Talent Management .......................... the key for success Dr. Nidhi Khare

Purpose:

Purpose Dwindling pool of candidates Leanness of the organization Lack of qualified internal candidates Increased demand and lack of incentives Lack of a Formal Leadership Development Process

Benefits:

Benefits Leave a legacy behind as good employer • Provide a Development Plan for Top Critical Positions • Increased Leadership/Employee/Student Satisfaction • Ability to measure leadership outcomes tied to the strategic plan competencies and performance • Create a pool of high quality leaders to fill critical positions

Workforce Forecasting:

Workforce Forecasting Conduct a long and short term workforce forecasting plan to identify the workforce needs. Conduct a study to determine the environmental changes, trends expected in 2, 5, 10 years Create a workforce plan spanning 2, 5, 10 years out Define the critical replacement positions, potential for recruitment - internally and externally Define career development needs for positions involved

Talent Management:

Talent Management Talent management improves the skills and talents of and increases the performance of your team Team members enjoy the feeling of personal growth and satisfaction that comes from the opportunity to develop their skills and better contribute to their team

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360 Degree Feedback Leadership Development Process Hiring/Selection Performance Management Employee Retention Career Development Talent Management Strategy Succession Planning Job/Analysis Competency Development Measure Results

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Succession Planning

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As a manager, it’s your role to ensure: Identify key replacement needs and the high-potential people and critical positions to include in the succession plan Clarify present and future work activities and work results Compare present individual performance and future individual potential Establish individual-development plans (IDPs) to prepare replacements and to develop high-potential workers Your Role In Succession Planning

Need for Succession Planning:

Need for Succession Planning Need for future growth and skill development Proactive approach to fill key potential vacancies Aligns mission with workplace planning strategy

Definition of Succession Planning:

Definition of Succession Planning “Succession planning is a means of identifying critical management positions starting at manager and supervisor levels and extending up to the highest position in the organization.” William J. Rothwell Succession planning should not and must not stand alone. It must be paired with succession management which creates a more dynamic environment.

Succession Planning:

Succession Planning Do you have an established succession plan? Replacement versus Succession Planning Do they have the skills and experience need to fill critical positions?

Succession Planning Components:

Succession Planning Components 2. HR Audit Develop a Pool of High Potential Candidates Monitor and Evaluate Progress and Results Make Adjustments 1. Replacement Planning Identify Readiness of Successors for Key Positions Review Performance and Development with Key Management Staff 3. Identify High Potential Successors Establish nomination criteria. Experience, Education, Manager/Mentor Recommendation 4. Identify Successor Developmental Needs Identify skills gap, set goals, create development plan Determine measurable goals and outcomes 5. Create Development Opportunities Developmental Activities/Projects Mentoring/Coaching Create a Leadership Succession Plan Leadership Support Gain Buy-in from Senior Management Identify Top Leadership Experience, Education, and Job Experience Integrated Leadership Development

Establishing a Succession Plan:

Establishing a Succession Plan Understand the critical position being vacated - what are the requirements of the job Benchmark the job against future job requirements Determine what the ideal candidate will look like Evaluate potential replacements Determine their performance and potential readiness level Establish a Development Plan and Goals Implement development plan Provide Coaching and Feedback Track and Monitor the plan

Succession Planning Policy:

Succession Planning Policy Identifying those employees who have the right skills to meet the challenges facing the organization Evaluate the quality and “readiness” of named successors Define development requirements and implement development plan Review performance and development with key management staff Make recommendations Monitor and evaluate progress and results

Human Resource Assessment:

Human Resource Assessment Defines the leadership needs of the organization Identifies qualification of successors and assesses employee capability and readiness to various positions Helps designate a talent pool of candidates qualified for specific positions Defines the developmental needs, competency and education requirements

Checklist to Succeed:

Checklist to Succeed  Part of an overall organizational culture strategy to develop managers at all levels.  Ongoing commitment of high-level management.  Part of an integrated HR process  Identify what skills the organization will need in 5, 10 or 15 years  Critical positions must be identified and included in the Company's Succession Planning program  Analyze the workforce and identify who will be eligible for retirement within the next five years

Checklist to Succeed:

Checklist to Succeed Managers need to identify the responsibilities, skills and competencies that will be needed by their replacements  Identify high-performers almost ready to step into those critical positions  Identify specific behaviors, skills and values that leaders to succeed now and in the future.  Use Assessment tools to make accurate leadership placement and development decisions.  Establish a system for communicating succession planning information

Critical Position Profile:

Critical Position Profile Interview someone in a current leadership role to determine their job requirements now and in the future. This provides a profile of a successful candidate for this position

Successor’s Profile:

Successor’s Profile Identify a successor’s job profile and experience to determine their current level of proficiency

Conduct a Gap Analysis:

Conduct a Gap Analysis Analyze the potential successor’s experience level and compare to the advanced level job requirements

Define High Potential Characteristics :

Define High Potential Characteristics Results Driven – has completed many challenging assignments People skill – Influences, motivates, works with a wide range of people. Mental ability – Street smart, asks insightful questions Lifelong Learning – seeks challenging opportunities for new knowledge, learns from successes and failures Integrated thinking – Links ideas, sees essence of problem Flexible – Adjusts priorities, takes risks, embraces change Energy – gets energy from work and energizes others

Replacement Planning Process :

Replacement Planning Process High potentials nominated as successors by managers, or Senior Management  Senior management review the recommendations and make revisions An HR executive advisory group discusses replacement skill level, readiness, and potential to get a fairly accurate judgment of a person’s capability Recommendations made for potential replacement opportunities

Employee Input :

Employee Input Identify employee’s career interests, qualifications, and future job promotion interests on an employee input form Track employee career interests and skill qualifications for future job opportunities Career development discussions between managers and employees become part of the formal performance appraisal process

Development Strategies:

Development Strategies Identify career paths for future career growth Identify competencies and assess strengths and areas for development Have employees create a career profile and identify development plans Mentor and coach employees Provide ongoing feedback Discuss career goals with employees Develop a promotion from within policy

Development Opportunities:

Development Opportunities Formal Training Advanced Degrees Certificate Programs Elearning On-the-Job Training Work Experiences Team Development Temporary Assignments Coaching Formal Mentoring

Coaching and Mentoring:

Coaching and Mentoring Coaching is provided when performance needs improvement and is focused on job performance. Coaches helps individuals improvement performance Mentoring is provided to help individuals grow in their professional experience. Mentors provide one-on-one coaching to help Protégé’s identify areas that need development and establish goals. Mentors provide guidance, support, feedback, direction, and share their experiences to help Protégé’s be successful in their current and future role.

Tracking Successors:

Tracking Successors Methods available: Competency Assessment Performance Appraisal Mentoring Program Career Experience and Development Activities Training Records 360 Feedback

Measure Success:

Measure Success Define measurable goals during the planning stage Track goals regularly Adjust goals when needed Analyze progress and take corrective steps to improve goal performance Analyze readiness, potential, performance, and replacements, employee morale, organizational culture, turnover, loss of talent, etc.