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Premium member Presentation Transcript Succession Planning : Succession Planning NagabhushaN VTU,Belgaum A Presentation on 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 Effective Succession Planning (2001) Succession planning should not and must not stand alone. It must be paired with succession management which creates a more dynamic environment. Need for Success Planning : Need for Success Planning Need for future growth and skill development Proactive approach to fill key potential vacancies Aligns mission with workplace planning strategy Succession Planning and Management : Succession Planning and Management A deliberate and systematic effort by an organization to: ensure leadership continuity in key positions retain and develop future intellectual and knowledge capital encourage individual advancement Integrated into the HR System Succession Planning is managed to ensure success Should also address the needs for critical backups and individual development in any job category Slide 5: 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 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 Steps in Succession Planning Process : Steps in Succession Planning Process Gain Buy-in from Senior Management Identify succession planning purpose and goals. Assess the organizations current and future business strategy and top leadership replacement needs. Identify and analyze key positions. Assess candidates against job and competency requirements. Identify development strategies. Define succession planning process and procedures. Communicate and implement succession planning. Collect information from employees regarding their career interests and expertise. Assess employee competencies. Create individual development plans. Select people to potential fill positions. Develop, select, and schedule training and development programs. Monitor progress. Measure and evaluate outcomes. 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 Checklist to Succeed : Checklist to Succeed Identify a systematic approach for identifying, nominating and selecting potential successors Review background information on potential successors, such as education, experience, skills, appraisals and potential Determine training and development requirements of potential successors Develop skills of potential successors through work experiences, job rotation, projects and other challenging assignments Establish a system for monitoring candidate's development plan progress by senior management Succession planning must include a system for providing feedback and encouragement to potential successors Conclusion : Conclusion Succession planning should not and must not stand alone. It must be paired with succession management which creates a more dynamic environment. Thank You You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.