The primary objectives for and deliverables of a Succession Planning program are to:
Encourage individual development by:
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:
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
II. Objectives and Benefits of Succession Planning
Encourage HiPos development by:
III. Tools and Processes Commonly Utilized for Developing and Implementing
IV. What an Organization, its Leaders, and the Program Participants Need to Do to Achieve an Effective Plan
What an organization needs to do:
What the leaders need to do:
What the program participants need to do:
V. Potential Measures of the Program’s Success
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:
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
II. Objectives and Benefits of Succession Planning
Encourage HiPos development by:
III. Tools and Processes Commonly Utilized for Developing and Implementing
IV. What an Organization, its Leaders, and the Program Participants Need to Do to Achieve an Effective Plan
What an organization needs to do:
What the leaders need to do:
What the program participants need to do:
V. Potential Measures of the Program’s Success
Pete Tosh
Pete Tosh is the Founder of The Focus Group, a management consulting and training firm that assists organizations in sustaining profitable growth through four core disciplines:Implementing Strategic HR InitiativesMaximizing Leadership EffectivenessStrategic PlanningEnhancing Customer LoyaltyThe Focus Group has provided these consulting and training services to manufacturing and service organizations across the U.S., Canada, Europe, and the Middle East. Pete has worked closely with the leadership teams of organizations such as Exxon, Brinks, EMC, State Farm, Marriott, N.C.I. YKK and Freddie Mac Pete holds a B.A. degree in Psychology from Emory and Henry University and Masters degrees in both Business Administration and …
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