Succession Planning: Staying Ahead of the Pack. Presented by: Karen Fortier, PhD, ARM Risk Management Executive Brown & Brown Insurance
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1 Succession Planning: Staying Ahead of the Pack { Presented by: Karen Fortier, PhD, ARM Risk Management Executive Brown & Brown Insurance
2 Succession Development Part 1: Talent Identification Framework 1. Competency Model 2. Performance Management Process 3. Potential Assessment 4. Career & Development Part 2: People Review Process 1. Organization Chart 2. Talent Assessment 9-Block Model 3. Leadership Capability Assessment 4. Organizational Succession Plan
3 Talent Identification
4 Why Talent Identification? Key process in building a strong organization Helps CEO answer this question: Do I have the organizational capability to run and grow my business? Help Directors build functional capability and sustainable bench strength Leverage competency-based development as a foundation for capability building
5 1. Competency Model Process of analyzing and describing types and range of abilities, knowledge and skills present in an organization. Must define required competencies Match agency mission/vision & Culture Vary by department and/or position Examples: Teamwork Analytical Thinking Managing Change Interpersonal Awareness Customer Orientation Empowering Others
6 Commitment 2. Performance Mgmt/Potential Competencies No Yes Yes Yes, No Yes, Yes No No, No No, Yes
7 3. Potential Assessment Potential is the current or future capacity to effectively assume higher levels of complexity Expected long-term growing contribution and leadership in the areas of strategy, people, and/or functional discipline Ambition & desire to be a leader Demonstration of core values Strongest performance among peers Strong people management: consider employee survey indicators, manager feedback Competencies at appropriate level Mobility
8 4. Career & Development Organize actions to facilitate talent growth and development throughout the organization: Training Coaching & Feedback New Positions / Projects Assignment Compensation
9 People Review
10 People Review Process OBECTIVE Assess the leaders in your organization to identify effectiveness and potential for movement to higher level positions and to create development plans. PROCESS 1. Create an Organization Chart for all of your direct reports 2. Using the Talent Assessment, assess the performance & potential of all individuals in leadership positions 3. Complete Leadership Capability Assessment form for all individuals in leadership positions 4. Create Organizational Succession Plan based on findings from these tools
11 1. Organizational Chart Assessment of Potential starts with an overview of performance; the primary purpose of the Org Chart is to assist in the discussion and analysis of potential Outstanding Highly Effective Performing Needs Improvement Unsatisfactory New Hire Recommended to complete for 2 reporting levels: Name Title Performance Rating Years of Service Time-in-Position
12 2. Talent Assessment Model
13 3. Leadership Capability Assessment Name Role Perform ance Rating Years of Service Time in Position (Years) Retenti on Risk H/M/L Strengths Development Needs Development Actions Charlie Brown CFO H Fiscal Knowledge Growing Leaders Having high impact Program knowledge Visit programs & talk with staff Lucy Clinical Director M Knowledge of agency Growing Leaders Fiscal knowledge Developing relationships Fiscal training Meeting with staff Linus Human Resources Director L HR Processes Advocate for employees Program knowledge Building teams Visit programs Team building training
14 4. Organizational Succession Plan Identify Critical Positions Obvious C-level Positions Consider other key positions Determine needed skills Skills required for identified positions Find & Assess Potential Successors Identify most obvious Consider others Involve Leaders Involve leaders at all levels Commit to Process It s more cost effective to promote from within and often results in better leadership.
15 CONFIDENTIAL Succession Slate CEO COO CFO Communicati ons Director HR Director BH Director IDD Director Facilities Manager Compliance Officer Incumbent Interim Leader Ready Now One Move Away (1-3 years) Two moves away (3-5 years)
16 Questions? Karen Fortier, PhD, ARM Risk Management Executive Brown & Brown Insurance Some material in this presentation has been adapted from The Forbes Funds and Boyden
17 Tools
18 Talent Assessment
19 Leadership Capacity Assessment Photo Name Role Performan ce Rating Years of Service Time in Position Retention Risk H/M/L Strengths Development Needs Development Actions
20 CONFIDENTIAL Succession Slate CEO COO CFO Communicati ons Director HR Director BH Director IDD Director Facilities Manager Compliance Officer Incumbent Interim Leader Ready Now One Move Away (1-3 years) Two moves away (3-5 years)
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