Submitted By: Altamash Ali Aashutosh Joshi Divyanshu Sharma MBA 3rd (B)

Submitted To: M/s Shilpa Jain

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Succession planning is a process of determining critical roles within the company, identifying and assessing possible successors and providing them with the appropriate skills and experience for present and future opportunities.

Succession Planning Process

Recruitment and staffing Training and development Performance and compensation management Talent management

Succession planning must be an integrated HR process. Identify what skills the company will require in the future. Identify critical positions in the company. Identify high performers to step into those positions.

Analyze the workforce for eligible retirements. A systematic approach for identifying, nominating and selecting potential successors must be established. Succession planning must include a system for providing feedback and encouragement to successors.

Engages senior management in a disciplined review of organizational talent. Guides development activities of staff. Brings HR systems into alignment. Assures continuity of key positions / Avoids transition problems. Assures new managers are prepared for their jobs. Focus on Organizational Effectiveness. Less time and expense to source talent to fill. The individuals identified in the plan will eventually be responsible to tackle future challenges.
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The organization is prepared to deal with sudden losses of key people. Less turnover. It will help the company to create future potential leaders. Succession planning helps company "build bench strength." It helps company to decide where people belong on the bus. To retain superior employees because they appreciate the time, attention, and development that company is investing in them.
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Succession Planning vs. Replacement Planning

Replacement planning: is about immediate needs, a point in time assessment of the availability of key back-ups who can step in and contribute quickly Succession planning: is concerned with longer range needs and the development of talent to meet those needs.

Career Planning:Career is nothing but a bunch or collection of jobs or positions, and it generally describes an applicable career path within the organizational structure. By defining careers, employers can define the principal personnel development paths within the organization. It is done for all position.

Succession Planning:Proper succession planning ensures that there is a continuous availability of qualified personnel so that the organization can run smoothly without disruption. It done for critical position.

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Step1 Clarify CEOs Expectations

Step 10
Evaluate Results

Step 2
Establish Competency Models

Step 9 Establish Individual and Organisational Accountability

Step 8
Establish a Talent Inventory

A Step by Step Model to establish and maintain a Succession Planning Program

Step 3
Conduct Multi Rater, Full Circle Assessment

Step 4
Establish Performance Management System

Step 7
Implement Individual Development Plans

Step 5 Step 6
Establish a means of ongoing Individual Development Planning Establish Potential Assessment

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Succession Planning Software (EmpXtrack)

Allows identification of key positions in the organization and their mapping to required skills, competencies, job descriptions, qualifications and experience profiles. Facilitates identification of employees who meet the requirements for these key positions. Sophisticated search mechanisms are available for this.

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Attempt Succession Planning Without Other Strategic Plans Procrastinate No goals Sell to an Insider Ignore Training Keep Succession Plans a Secret Develop a Succession Plan Once

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CASE STUDIES: .

TATA Group

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Succession planning of Tata group

Born on December 28, 1937 Graduated with a degree in Architecture and Structural Engineering from Cornell University. Also completed advanced management programme at Harvard Business School. Appointed the Director-in-Charge of The National Radio & Electronics Company Limited (Nelco) in 1971. Became the Chairman of Tata Industries in 1981. Took over as Tata Group Chairman in 1991. When Ratan Tata turned 75 he has to announce his successor. and it was a tough & a time consuming process for selection committee to find a successor of the caliber who can manage business group. The selection committee took 15 months time to identify the successor for Ratan TATA. Five-member panel to pick Ratan Tatas successor formed

1. Long run way Leadership Continuity for next 25 years. 2. TATA Group Ethos ( similar to level 5 leadership personal humility and professional will) 3. Experienced in handling Similar size, scale, scope, complexity (Diversified portfolio management) 4. Shareholders / Stake holders acceptance 5. Commitment to philanthropy

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Year operating company Person holding Successor Age Source of successor:2006 Tata housing N/A Brotin Banerjee 35 Within the TATA Group 2008 Tata chemicals Mr. Khusrokhan R mukundan 42 Within the company 2009 TCS S. Ramdurai N. chandrasekaran 46 Within the company 2010 Tata Tele Anil Sardana Srinath N 45 Within the company 2011 Tata commu Srinath N Vinod kumar 45 within the TATA group 2012 TATA group Ratan TATA Cyrus Mistry 43 Within the TATA Group

Source:- http://sureshine.blogspot.in/2011/12/succession-planning-forcorporate-india.html

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"I don't want to leave the company in a wheel chair or in a box," Ratan Tata told a television news channel in an interview.
"The company is not pushing me out. It is my desire," he said. "I have chosen to stay off that (search) committee... the committee has the freedom to examine and not have anyone feel that I am driving the succession plan," Ratan Tata said.

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Ratan Tata, who will retire as chairman in December, 2012, said that he "is looking forward to freedom to find time to do things that I always wanted to do". The selection process for a prospective candidate would consider suitable persons from within the Tata Companies, other professionals in India as well as persons overseas with global experience., he said. The successor, I would hope, would have integrity and our value systems in the forefront and hopefully would carry on the path that we have tried to set for the companys growth, Mr Tata had observed.
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Success will sustain and grow only when it is passed on into safe hands, and this is where the seed of succession planning takes its roots.

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