Succession planning
Download as PPTX, PDF
2 likes699 views
Succession planning is a process for identifying and developing internal employees who have the potential to fill key leadership positions when they become vacant. It ensures that employees are recruited or developed to fill each critical role and that the organization can continue operating effectively when individuals in key positions depart. Succession planning is an ongoing process that involves identifying critical positions, analyzing the skills and competencies required for each role, developing succession plans, and monitoring and revising the plans over time. It aims to assess the organization's ability to replace departing staff and identify internal candidates ready to transition seamlessly into new roles.
Succession planning
- 1. Succession Planning Prepared By: Varun Rana
- 2. What is Succession Planning??? Succession planning is a process for identifying and developing internal people with the potential to fill key business leadership positions in the company. Succession planning increases the availability of experienced and capable employees that are prepared to assume these roles as they become available 10/12/2015Succession Planning 2
- 3. Succession Planning Ensure that employees are recruited and/or developed to fill each key role. Ensure that we operate effectively when individuals occupying critical positions depart. May be used for managerial positions or unique or hard-to fill roles. Align bench strength for replacing critical positions. 10/12/2015Succession Planning 3
- 4. What is Bench Strength? An assessment of the organizations preparedness to replace departing staff in critical positions. Identifying people who are ready to step into someone elses shoes at the appropriate time under the appropriate circumstances with seamless transition. 10/12/2015Succession Planning 4
- 5. Succession Planning What it is Not A one time event Decided by an individual Used solely for individual career advancement opportunities Reacting only when a position becomes open Line mangers relying solely on their own knowledge/comfort with candidates. 10/12/2015Succession Planning 5
- 6. Replacement vs. Succession Reactive Form of Risk Management Substituting Narrow Approach Restricted Pro-Active Planned Future Development Renewing Organized Alignment Flexible 10/12/2015Succession Planning 6
- 7. Steps in Process Identify Key/Critical Positions Conduct Position Analysis Develop Succession Plan Monitor, Evaluate, Revise 10/12/2015Succession Planning 7
- 8. Identify Key/Critical Positions Key Contributor- in achieving the organizations mission or would hinder vital functions Specialized Leadership The position requires specialized or unique expertise Geographic The position is the only one of its kind in a particular location Vacancy- Position will be vacant due to retirement/advancement in the organization/lateral moves 10/12/2015Succession Planning 8
- 9. Conduct Position Analysis What are the external and internal factors affecting this position? What competencies or skill sets will be required? What are the gaps (competencies or skill sets not possessed by the current staff)? What strategies will be used to address the gaps? 10/12/2015Succession Planning 9
- 10. Develop Succession Plan The succession plan is the culmination of Phases 1 and 2. Reviews of the individual positions and high turnover job classes are rolled into one document and gaps and strategies are formulated at an organizational or unit level. The strategies to overcome the gaps are outlined to include target completion dates, responsible parties and required resources. 10/12/2015Succession Planning 10
- 11. Monitor, Evaluate, Revise Select evaluation period-typically reviewed annually Be prepared to respond rapidly to unforseen changes to the plan Status/Progress updates should be monitored via the succession planning template and EPAs (depends what Holly choses here) 10/12/2015Succession Planning 11
- 12. Overview of Process and Tools Process Design Org. Strategic Initiatives, Vision, Mission & Values Determine Competencies for Leadership Process Implementation Identify Key Leaders & Assess against competencies Manager & Self Evaluation Determine Gap between Actual Performance & Behaviors vs. Required Competencies Decision Making Matrix Assess Organizational Risks and Develop Strategies Executive Profiles & Organization Chart Process Management Monitor & Track Employees Performance Development plans focus on both strengths And development areas 10/12/2015Succession Planning 12
- 13. What tools will we use? 10/12/2015Succession Planning 13