succession management.pptx

Succession management principles

1. SUCCESSION MANAGEMENT

2. INTRODUCTION Introduction SUCCESS means achievement, or a favourable accomplishment of endeavour SUCCESSION refers to a process by which one person succeeds to the office or position of another ION -the suffix of success that denotes ELEMENT, the constituent part of the whole (succession) as the rudimentary principle.

3. SUCCESSION MANAGEMENT OVERVIEW Managing the succession process involves planning, organizing, activating, and controlling As a process, it ensures that there are leaders and talents implementing organizational vision As a result, long-tern leadership sustainability is assured thru attraction, retention and development of talents

4. PURPOSES Creates opportunities to identify ways to grow capability in -Strategic importance Enhancing senior management team depth -Improving performance and potential talent -Develops profile of current performance and leadership potential to better plan for -future leadership needs -development actions

5. CORE PRINICIPLES -Leaders really do matter -Performance is what counts -Today’s top performing leaders aren’t necessarily tomorrow’s -Talent is an enterprise resource -A broad set of experiences and assignments is the best classroom -Incumbent upon leaders to leave a legacy of future talent -Invest on the best

6. ELEMENTS OF EFFECTIVE SUCESSION PLANNING Assessing Key Position Identifying Key Talent Evaluating key talent Generating development plan Putting in place monitoring and review

7. ASSESSING KEY POSITIONS Information that may help identify key positions: Current and future strategic goals and objectives Retirement forecasts Turnover rates Current and expected vacancies Changes to existing programs and services

8. IDENTIFYING COMPETENCIES Reviewing the job descriptions Interviewing current and former job incumbents Interviewing supervisors, clients, and other stakeholders Conducting focus group or surveys Reviewing any existing development plans (i.e. leadership competencies) Reviewing organizational values

9. IDENTIFYING & ASSESSING POTENTIAL CANDIDATES SUCCESSION PLANNING MUST BE: -Objective and independent of personal bias -Merit-based -Communicated to and understood by all employees -Transparent at all stages of the process

10. METHODS TO IDENTIFY POTENTIAL CANDIDATES Written exams Candidate interviews Review of resume/CV Simulated work experiences Performance reviews Reference checks Talent review meetings

11. LEARNING & DEVELOPMENT PLANS Plan should focus on decreasing or removing the gap between expected an the current knowledge, skills and abilities of candidates. Manage expectations-modern succession planning is based on learning and development to fulfil employee potential rather than merely filing a vacancy. Ensure appropriate strategies are in place to support the transfer of corporate knowledge to candidates for key jobs: -mentoring, coaching or job-shadowing -documenting critical knowledge -exit interviews -establishing a community of practice

12. IMPLEMENTATION & EVALUATION -Have all key jobs identified and do they have succession plans? -What is the impact of succession plans on business continuity in key positions? -Are successful candidates performing well in their new roles? -What is the impact of learning and development efforts? Are employees ready to compete for a vacant key position? -Is the candidate pool diverse and reflective of employment equity values? -What are the areas for improvement in the succession planning process?

13. TALENT REVIEW Most high potentials are high performers PETER Principle

14. CLUES in Assessing Potential Solid Track Record of Success High Learning Agility Demonstrate Commitment Manifest Aspiration Exemplify Willingness and Ability to Lead Elicit “presence” With high Degree of EQ Seek and Open to Feedback Curious and Adapt to New Experiences

15. PERFORMANCE & POTENTIAL MATRIX