SUCCESSION PLANNING 1/22/2016. The Work of Leadership. Why is Succession Planning Important? Is your organization ready?

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1 SUCCESSION PLANNING Is your organization ready? Presented by: Why is Succession Planning Important? The Work of Leadership Effective leaders plan an exit that is as positive and graceful as their entrance was. They come to the job committed to the mission and goals of the organization and to their personal goals. When those goals are realized, the transition to new leadership becomes a primary focus. An excellent successor becomes, literally, the ultimate leadership responsibility. 1

2 What is Succession Planning? A deliberate and systematic effort by an organization to ensure leadership continuity in key positions, To retain and develop intellectual and knowledge capital for the future, and To encourage individual advancement. Succession Planning Ensures that employees are recruited for and/or developed to fill each key role. Ensures that we operate effectively when individuals occupying critical positions depart. May be used for managerial or hard-to-fill roles. Aligns bench strength for replacing critical positions. Succession Planning 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 managers relying solely on their own knowledge/comfort with candidates 2

3 Replacement vs Succession Reactive Form of Risk Management Substituting A narrow approach Restricted Pro-active Planned future development Renewing Organizational alignment Flexible Steps in the Process 1. Identify Staffing Needs for Key/Critical Positions 2. Identify Talent Pool Candidates 3. Develop Your Talent Pools 4. Hire/Promote from Talent Pools 5. Evaluate Your Succession Plan and Process Take the Assessment 3

4 Tools Core key competencies by level identified Job descriptions updated Performance appraisal system Goal setting Talent review annually or more often Key Competencies Competencies communicate expectations about how work gets done. They also help you define, communicate and develop your organizational culture and competitive differentiators. Include core and job specific competencies in performance appraisals, job descriptions, job requisitions and talent pool definitions. While you can use off-the-shelf competency libraries, typically it s best to create your own list of competencies, complete with detailed definitions. Develop procedure manuals for essential tasks carried out by key positions. Include step-by-step guidelines. Key Competencies and Talent Pools Group the diverse skills and competencies required in your organization into skill profiles for talent pools with common requirements such as: Change management 15% Communication 25% Innovative Thinking 15% Managing employee performance 25% Fiscal management 20% 4

5 Identify High Potential Employees Plot employee performance and potential using a nine-box grid that provides a simple geographical view of high potential employees. Review the entire workforce or a particular work group to identify the best candidates for development or find strong candidates for immediate succession requirement. Drill down to see the employee s talent profile that summarizes key talent indicators and competencies in a single view. Support Talent Development Assign high-potential employees to appropriate talent pools. Create tailored succession and leadership development programs to help employees achieve proficiency in all the required competencies. Close skill gaps and prepare your high-potentials for succession opportunities. Then, conduct regular talent assessments to evaluate all employees in a talent pool against the competency model. Monitor, Evaluate and Revise See overall assessment results and adjust talent pool memberships as needed. Drill down in the succession planning tools to see an employee's Talent Profile showing details on an individual employee including gap analysis. Generate a Development Plan Report to see the status of development activities for a talent pool, for an individual, a division or the entire organization. 5

6 Mitigate Retention Risks from the Get-Go Because future leaders are a bad thing to lose understand where you re at risk of losing key employees. Identify areas where you could have a potential talent shortage in the future. Know where to target programs aimed at increasing employee engagement and retention, or recruiting new talent. Leadership Transition Key Points Create an onboarding plan for newly-placed employees, such as with coaching, mentoring, and defining goals. Communicate: What will your organization say to stakeholders before, during, and after a transition of leadership? Thoughtful communications are needed in order to support the staff and organization during the transition process. Leadership Transition Key Points (Contd) Consider whether placing an interim leader at the helm is the right path for your nonprofit. Create an Emergency Leadership Transition Plan to address the timely delegation of duties and authority when there is an unexpected transition or interruption in key leadership. 6

7 Questions? 7