Build the Talent Pipeline: A Four Step Guide to Implementing Succession Planning. Karen N. Caruso, Ph.D.

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1 Build the Talent Pipeline: A Four Step Guide to Implementing Succession Planning Karen N. Caruso, Ph.D.

2 Build the Talent Pipeline: A Four Step Guide to Implementing Succession Planning Succession Planning provides the framework and structure for identifying and understanding leadership talent in the organization. It emphasizes and facilitates ongoing learning and development for the organizations most talented leaders. Even today, the Succession Planning process is often times not automated and therefore, not optimized or efficient. Succession Planning software solutions can enhance the process by making it less time intensive and more efficient. The software becomes an integral source for accurate and reliable information on tracking high potentials and successors. This guide outlines viapeople s straightforward methodology for quickly and easily implementing Succession Planning in your company. Four Step Process viapeople approaches Succession Planning using a practical, four step process. Each step builds upon the previous step. Step 1: Talent Assessment Sound Talent Assessment reduces the subjectivity that has long surrounded the succession planning process. This important first step is focused on evaluation of both positions (current and future) and individuals. Talent Assessment involves the examination of relevant individual talent data. Some of the information may currently exist within the organization s HRIS, while other important pieces may need to be collected directly from individual leaders and managers as a part of this phase. Complete Background Profiles Involve all leaders within the organization who will be included in the Succession Planning process by having them complete a Background Profile. Gathering background information including education, specific experience, technical certifications, language capabilities, career interests and mobility

3 preferences helps to build a comprehensive talent profile and will facilitate succession decision making in future steps. Not sure who to involve in the Succession Planning process? Read: Where to Draw the Line: Who to Include in the Succession Planning Process. Evaluate Individual Leaders The assessment of individuals should involve the evaluation of performance, leadership potential, and retention risk. All three of these factors can be defined in a variety of ways. Starting with simple and clear definitions or rating scales work best when implementing succession planning for the first time. Over time more sophisticated viapeople s Succession Planning Solution provides organizations with Talent Assessment templates that can be easily configured to meet your organizations needs. Assess performance, leadership potential, and retention risk using simple assessment tools developed by Industrial Organizational Psychologists. definitions and assessment tools can be used as senior leadership gains experience and confidence in the process. Performance Assessing performance for the purposes of Succession Planning should always take into consideration the performance of the individual over time, preferable over 3 to 5 years. Leaders should examine the historical performance review data that is available and discuss how that relates to the individual s proven ability to meets performance expectations in a variety of contexts. Read more: Assessing Performance for Succession Planning Made Easy. Potential Assessing an individual s potential for taking on broader leadership roles requires that we look at the individual with a future- oriented perspective. Consider the following factors when determining an individual s potential: Demonstration of organizational leadership competencies (as assessment by manager or through 360 degree evaluation) Learning agility Cognitive ability Experience and education Organization commitment Absence of derailers

4 Determine Critical Positions The final component of talent assessment is to determine the criticality of positions within the organization. This prioritization allows organizations to target talent investments to ensure leadership continuity and mitigate risk from leadership attrition. The assessment can be done by simply indicating whether or not a position is critical, or determining a level of criticality. To learn more about factors to consider when determine position criticality, read: Identifying Critical Positions in the Succession Planning Process. Step 2: Talent Review The purpose of Talent Review is to critically review all of the data collected during Talent Assessment and make decisions related to succession and development. This step in the process involves a series of discussions with business unit leaders to gain consensus on the current state of the leadership talent pool. Use the 9 Box Talent Grid The 9 box talent grid provides a perspective or a way of looking at the relationship between the performance of individuals and their potential for future leadership roles. Placement on the 9 box grid is determined by ratings of performance and potential using a 3 point rating scale for each (e.g., Low, Moderate, High). This tool serves as viapeople s Succession Planning a means of visualizing talent within Solution facilitates efficient and the organization and will guide the thorough Talent Reviews. identification of high potentials, Organizational leaders will have the successors for critical positions, and insight they need to make succession even individuals for whom a decisions using viapeople s position change may be needed. The Reporting Dashboard and dynamic 9 9 box talent grid also provides box talent grid. direction to the next step Talent Planning. Read What is the 9 Box? to learn more about how to use the 9 box talent grid. Provide Structure to Discussions Talent Review discussions should be lead by business unit leaders who partner with strategic HR partners. In preparation for discussions, leaders should conduct discussions with their managers. Having a focused agenda can help to keep discussions productive, yet efficient. Business unit leaders should work to gain agreement on the placement of individuals within the 9 box, the identification of high potential leaders, successors for critical positions, positions with no clear successors, and retention risks.

5 Step 3: Talent Planning Talent Planning is aimed at creating individual and group level action plans based upon the results of Talent Review. All individuals included in the succession planning process should have an individual development plan that is regularly reviewed and updated. During Talent Planning, business unit leaders should partner with their strategic HR partners to create: Individual development plans for all leaders, paying special attention to high potentials and successors for critical positions Group level skill development plans to reduce talent gaps viapeople s Succession Planning Solution offers a comprehensive online, searchable database of development suggestions and actions developed by seasoned coaches and Industrial Organizational Psychologists that can jump- start development planning. Retention plans, including development, reward and recognition strategies, for individual retention risks Recruitment or aggressive development plans to address succession gaps for critical positions Individual Development Plans Research provides guidance and direction on the most effective ways to develop leadership talent, based upon the capabilities and potential of individuals. As such, individual development plans should be structured and tailored to individuals needs. The 9 box talent grid can provides direction on the types of developmental strategies that should be included in development plans. For example, some plans may focus specifically on performance improvement within a designated period of time while others on broadening exposure and increasing experience. Read Development at the Top Use the 9 Box to Develop Talent in Succession Planning to learn more about how the 9 box talent grid can be used to ensure talent development. Download Making it Happen! An e- Guide for Performance Driven Goal Setting. Step 4: Talent Development Talent Development is all about on- going execution of talent development plans, both at the individual and organizational level. Quarterly reviews of development progress should be conducted to ensure that the appropriate actions are being taken and the experiences and opportunities are being provided.

6 Business unit leaders, supported by strategic HR partners, should take the lead to ensure that individuals are getting the support that is required for development. Mentoring, coaching, and frequent feedback must be offered along the way to ensure individuals can continue to perform and learn what they need to learn through development viapeople s Succession Planning Solution can be seamlessly integrated with viapeople s Performance Management solution to manage and track performance against development plans and hold leaders accountable to talent mobility. experiences. Lastly, accountability plays a vital role. Individuals need to be held accountable for maintaining a high level of performance and taking ownership of their own development. Senior leaders must be help accountable for supporting development and taking action to manage talent mobility. About viapeople, Inc.: viapeople, Inc. is a performance and talent management software and consulting services company. By combining the science of Industrial Organizational Psychology and an advanced, fully integrated technology platform, viapeople, Inc. offers the time savings and cost efficiency of online implementation, the flexibility to customize to a client s specific needs, and the domain knowledge to help clients measure and improve the return on their investment in human capital. Visit viapeople, Inc. at