The Role of Succession Planning in Organizational Success

Transcription

1 The Role of Succession Planning in Organizational Success Eric L. Mercado, C.M., ACE Managing Director Nedra Farrar Swift, IPMA CP Recruitment & HR Associate

2 Succession Planning & The Future

3 What is Succession Planning? Identification and development of potential successors for key positions in an organization through a systematic evaluation process and training. (

4 Why Bother? When you fail to plan, you plan to fail

5 Where Do We Start? Begin with the end in mind.

6 What is the Board s Role Strategy Mission Vision CEO Succession Development Mandate Succession Planning for Key Positions

7 Steps Strategic Plan Vision Mission Identify Key Positions Identify Requirements & Qualifications for Key Positions Identify High Potential Employees Identify Interested Employees Analyze Gaps Employee Development Plans Monitor, Manage and Evaluate

8 Begin with the End in Mind Strategic Plan: What are the goals and objectives of the organization 5, 10, 15 years forward? Vision: How should the organization look when it grows up? Mission: What does the organization do day in and day out?

9 Tips to Successful CEO Succession Development Board must have clear roles & responsibilities 2. CEO Succession Timeline 3. Business needs assessment 4. Consensus on next CEO 5. Board familiarity with candidates (internal & external) 6. Open dialog between CEO & Board 7. Outgoing CEO transition role

10 Identify Key Positions Which positions (if left vacant) would make it difficult for the organization to operate effectively and achieve current and future strategic goals? Which positions (if left vacant) would be detrimental to the safety and security of the flying public or airport users/tenants/customers?

11 Identify Requirements for Key Positions (1) Years of experience, directly related experience Education Certifications/licenses Should they be position ready or promising?

12 Identify Requirements of Key Positions (2) Personality Special Skills Corporate Culture Diversity Relationships

13 Assess Your Bench Who do you already have (high potential employees) What/who are you going to need and when Do you have the right types of positions Have you figured out what compilations of talent (skills) you need Are there people already on board with the right stuff (starters) Who are the people who could be starters with some targeted development (second string) Who are your franchise players

14 Identify High Potential & Interested Employees Are there employees already on board with the right stuff (starters)? Who do you already have (high potential employees) who, with targeted development and training will be ready to take leadership roles in a few years? Who are the people who could be starters with some targeted development (second string)? Do you have employees who believe, wish, want to be chosen for leadership roles? (The next slide might be the most important!)

15 Ye shall know the truth......and the truth shall make you free!!!

16 Identify Gaps What you need What you have GAP

17 Employee Development Plans They tell employees what they need to learn by a certain time to be considered for a key position Provide opportunities for high potential employees to lead (team projects, manager-in-training programs, rotating assignments, mentoring) $$$$$$$$ Frequent interactions to determine progress and tweak the plan

18 Encouragement to Remember Provide more than one way up in an organization. Reward managers for developing talent. Use enterprise learning as a performance lever. Understand that senior management isn t the only destination. Train managers to be coaches and provide them with the right tools. Allow employees to move horizontally as well as vertically in the organization. Make transparency a priority.

19 Ensure Development Create employee and management development plans Provide opportunities for high potential employees to lead (team projects, manager-in-training programs, rotating assignments, mentorships) Frequent interactions to determine progress

20 Technology to Help You Halogen Capterra Saba Peoplefluent Insala EmpXtrack SuccessFactors

21 Role of Consultants Expert Support for Human Resources Benchmarking Internal versus External

22 Questions?

23 Executive Recruiting Succession & Strategic Planning Leadership & Supervisory Training & Workshops Professional Career Development for the Individual & Group (Office)