The primary objectives for and deliverables of a Succession Planning program are to:
- Sustain the business through a deliberate and systematic effort to anticipate and ensure leadership continuity in key positions
- Retain and develop the organization's high potential [HiPos]
Encourage individual development by:
- Identifying career paths
- Conducting formal performance appraisals
- Providing daily coaching
- Creating Individualized Development Plans [IDPs]
WHY SHOULD YOU ATTEND?
Fortune 500 companies and small family businesses share a business need - ensuring they have the talent necessary to effectively lead their organizations in the future. One of the most significant contributions a leader can make is ensuring his/her business’ continuity and sustainability - by having employees who are willing and capable of filling each key position with a plan for doing so when the need arises Succession Planning is a:
- deliberate, systematic process of anticipating the need for talent and ensuring that the
- necessary employee competencies and experience are available when needed in the future
a strategic approach for avoiding an undersupply of talent, enhancing the organization’s current talent pool, and meeting its future needs
Not having a Succession Plan can be costly and sometimes disastrous; it is expensive to recruit, interview, select, on-board, and train a new leader and significant opportunity costs are incurred when a key job is not being performed.
AREA COVERED
I. Succession Plan Defined
- A deliberate, systematic process of anticipating the need for talent and ensuring that
- the necessary employee competencies and experience are available when needed
- A strategic approach for avoiding an undersupply of talent, enhancing the organization’s current talent pool, and meeting the organization’s future needs
II. Objectives and Benefits of Succession Planning
- Sustain the business through a systematic effort to ensure leadership continuity in key positions
- Attract, retain & develop high potentials [HiPos]
Encourage HiPos development by:
- Identifying career paths
- Conducting performance appraisals
- Providing daily coaching
- Creating Individualized Development Plans [IDPs]
- Holding Talent Review meetings
III. Tools and Processes Commonly Utilized for Developing and Implementing
- Self-appraisals and career goals
- Performance appraisals, 360 feedback, and ratings
- Assessment instruments
- GE grid
- Individual development plans [IDPs]
- HiPo talent development interventions
- Talent review meetings
IV. What an Organization, its Leaders, and the Program Participants Need to Do to Achieve an Effective Plan
What an organization needs to do:
- Supply funding/budget
- Establish a sharp vision and guidance for the program
- Develop a formal, written program
- Announce the objectives of the program to all employees
- Ensure that all leaders and managers support the program
What the leaders need to do:
- Have job descriptions developed for their teams
- Conduct effective, formal performance appraisals
- Identify employee developmental areas
- Share their knowledge and experience
- Involve employees in more of the leader's responsibilities
- Facilitate the completion of IDPs for all Hi Pos
What the program participants need to do:
- Conduct self-appraisals
- Identify their desired career paths
- Learn as much as they can about potential future assignments
- Perform to their capabilities
- Complete their IDPs
- Develop the employees reporting to them – so they have successors
V. Potential Measures of the Program’s Success
- Whether there is, at least, one successor for each key position
- Having developmental goals and IDPs established for each successor
- Determining how much of their manager’s job the successors can perform
- Determining whether successors can perform their manager’s jobs when they are unavailable and evaluating their performance during those times
LEARNING OBJECTIVES
- Understand what succession is
- Look at a succession plan from both a macro & micro level
- Learn the value & objectives of succession planning
- Discuss multiple tools & processes for developing a succession plan
- Identify the individual roles of the organization, its leaders & the program participants
- Be able to utilize several metrics to gauge the effectiveness of your plan
WHO WILL BENEFIT?
- HR Professionals New to the Field - seeking a comprehensive view of the subject with multiple application initiatives
- Experienced HR Professionals - seeking a refresher
- Leaders and Managers - interested in understanding how a Succession Plan benefits an organization
- SHRM Associations
- HR Groups on LinkedIn
- Any Professional Manager Groups/Associations
Fortune 500 companies and small family businesses share a business need - ensuring they have the talent necessary to effectively lead their organizations in the future. One of the most significant contributions a leader can make is ensuring his/her business’ continuity and sustainability - by having employees who are willing and capable of filling each key position with a plan for doing so when the need arises Succession Planning is a:
- deliberate, systematic process of anticipating the need for talent and ensuring that the
- necessary employee competencies and experience are available when needed in the future
a strategic approach for avoiding an undersupply of talent, enhancing the organization’s current talent pool, and meeting its future needs
Not having a Succession Plan can be costly and sometimes disastrous; it is expensive to recruit, interview, select, on-board, and train a new leader and significant opportunity costs are incurred when a key job is not being performed.
I. Succession Plan Defined
- A deliberate, systematic process of anticipating the need for talent and ensuring that
- the necessary employee competencies and experience are available when needed
- A strategic approach for avoiding an undersupply of talent, enhancing the organization’s current talent pool, and meeting the organization’s future needs
II. Objectives and Benefits of Succession Planning
- Sustain the business through a systematic effort to ensure leadership continuity in key positions
- Attract, retain & develop high potentials [HiPos]
Encourage HiPos development by:
- Identifying career paths
- Conducting performance appraisals
- Providing daily coaching
- Creating Individualized Development Plans [IDPs]
- Holding Talent Review meetings
III. Tools and Processes Commonly Utilized for Developing and Implementing
- Self-appraisals and career goals
- Performance appraisals, 360 feedback, and ratings
- Assessment instruments
- GE grid
- Individual development plans [IDPs]
- HiPo talent development interventions
- Talent review meetings
IV. What an Organization, its Leaders, and the Program Participants Need to Do to Achieve an Effective Plan
What an organization needs to do:
- Supply funding/budget
- Establish a sharp vision and guidance for the program
- Develop a formal, written program
- Announce the objectives of the program to all employees
- Ensure that all leaders and managers support the program
What the leaders need to do:
- Have job descriptions developed for their teams
- Conduct effective, formal performance appraisals
- Identify employee developmental areas
- Share their knowledge and experience
- Involve employees in more of the leader's responsibilities
- Facilitate the completion of IDPs for all Hi Pos
What the program participants need to do:
- Conduct self-appraisals
- Identify their desired career paths
- Learn as much as they can about potential future assignments
- Perform to their capabilities
- Complete their IDPs
- Develop the employees reporting to them – so they have successors
V. Potential Measures of the Program’s Success
- Whether there is, at least, one successor for each key position
- Having developmental goals and IDPs established for each successor
- Determining how much of their manager’s job the successors can perform
- Determining whether successors can perform their manager’s jobs when they are unavailable and evaluating their performance during those times
- Understand what succession is
- Look at a succession plan from both a macro & micro level
- Learn the value & objectives of succession planning
- Discuss multiple tools & processes for developing a succession plan
- Identify the individual roles of the organization, its leaders & the program participants
- Be able to utilize several metrics to gauge the effectiveness of your plan
- HR Professionals New to the Field - seeking a comprehensive view of the subject with multiple application initiatives
- Experienced HR Professionals - seeking a refresher
- Leaders and Managers - interested in understanding how a Succession Plan benefits an organization
- SHRM Associations
- HR Groups on LinkedIn
- Any Professional Manager Groups/Associations
Speaker Profile
Pete Tosh is Founder of The Focus Group, a management consulting and training firm that assists organizations in sustaining profitable growth through four core disciplines:Maximizing Leadership EffectivenessImplementing Strategic HR InitiativesStrategic PlanningEnhancing Customer LoyaltyThe Focus Group has provided these consulting & training services to manufacturing & service organizations across the U.S., Canada, Europe & the Middle East.Pete has worked closely with the senior leadership teams of organizations such as Brink’s, EMC, State Farm Insurance, Marriott, N.C.I., Freddie Mac, and YKK Pete is also co-author of Leading Your Organization to the Next Level: The Core Disciplines of Sustained Profitable Growth. Pete holds …
Upcoming Webinars
Uplifting the Credibility of HR: How to Build the Credibili…
Courts No Longer Have to Give Deference to Agency’s “Expert…
Building Fair Chance Hiring Policies in 2024
21 CFR Part 820 - Quality System Regulation - Applying Prin…
HIPAA Bootcamp for Health Care Providers, Professionals, an…
Building GMP Excellence: A Guide to Implementing Compliant …
FDA Technology Modernization Action Plan (TMAP) and Impact …
Weathering the Storm: Navigating Resource Constrained Waters
How to Survive an Emotionally Toxic Workplace
21 CFR Part 11 - Compliance for Electronic Records and Sign…
How to Give Corrective Feedback: The CARE Model - Eliminati…
SOPs - How to Write Them to Satisfy those Inspectors
2-Hour Virtual Seminar on The Complexity and Interplay Amon…
Excel Power Skills: Master Functions, Formulas, and Macros …
Employee Handbook Requirements for 2024. Includes Updated F…
2-Hour Virtual Seminar on the 6 Most Common Problems in FDA…
Essential Job Functions According to the American with Disa…
Understanding the Artificial Intelligence Landscape
FDA Audit Best Practices - Do's and Don'ts
Workplace Investigations 101: How to Conduct your Investiga…
Engineering Change Management (ECM)
Managing Difficult Employee Conversations
Stay Interviews: A Powerful and Low-Cost Employee Engagemen…
Batch Record Review and Product Release
How to Document Employee Discussions and Why it is Important
Project Management for administrative professionals
Excel - Lists and Tables - A Beginner's Guide to Managing L…
Form 1099 Update 2024: Latest Forms, Rules and Reporting Re…
6-Hour Virtual Seminar on Learning the Highlights of Excel …
Better Business Writing - How to Write Right
Do's and Don'ts of Giving Effective Feedback for Performanc…
Improving Employee Engagement & Retention Through Stay Inte…
Ultimate Persuasion Strategies! - Secret Influence Tools & …
Female to Female Hostility @Workplace: All you Need to Know
CAMELS Evaluation and Rating System plus Examination of CCA…
California Meal and Rest Breaks: What You Don't Know Can Co…
Onboarding is NOT Orientation - How to Improve the New Empl…
Surviving and Thriving Organizational Change and Loss: The …
Human Factors Usability Studies Following ISO 62366 and FDA…
2-Hour Virtual Seminar on How to Conduct an Internal Harass…
Blending Virtual & In-Person Onboarding to Welcome, Engage …
Performance of Root Cause Analysis, CAPA, and Effectiveness…
Documenting Misconduct that Will Stand Up in Court