uccession planning

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Presented by: Ekta Raj

5/3/12

Process of ensuring a suitable supply of successors for current and future senior or key jobs arising from business strategy, so that the careers of individuals can be planned and managed to optimize the organizations needs and the individuals aspirations.

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Succession management

An alternative approach developed in the 1990s. Purpose: ensure that right talent is available when needed. Insures that key people are not just identified but also nurtured.

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Includes

Identifying the shortage of leadership skills and defining the requirements:

Estimate manpower requirement well in advance. Work load analysis is to be done Competencies defined

Identifying potential successors for critical positions:

Find people with highest potential Define critical success factors

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Contd

Coach and groom the stars:

Create a compelling vision Talk to employees Exploration of interests, curiosity etc Rotate employees position to train them and allow them to grow

Secure top managements commitment and support:

Consistent support and continued blessings from top management.

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Key components

Identify Vulnerabilities:
Identifying which organizational roles require a future plan

Skills Inventory:
A critical feature of succession planning is creating a list of the skills, knowledge and experience needed for the job before the individual leaves

Creating a Talent Pool

Attracting and retaining future talent

Timing:
Those responsible for preparing the organization for the future should start 5/3/12 planning a few years in advance of known or expected departures.

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Succession Planning Process

The planning process identifies which individuals should be included in a candidate pool and evaluates each individuals readiness and development needs for assuming new leadership roles. The outcome of the planning process is a pool or group of candidates, who can fill future positions and whose development is the priority in building CalPERS leadership and professional capabilities. 1. Identify
Candidates for SP&M 2. Build Candid ate Profile s 3. Assess Readin ess

4. Conduct Leadership Skills Assessment (LSA) Session

Identify candidates for succession through selfnomination process

Candidate builds the profile by:

Manager completes: Review 360 roll-up Review the profile & selfassessment Rate candidates readiness to assume greater responsibility Rate Risk for Separation Identify positions for future

Review Roles & LSA process

5. Modify/Updat e Development Goals & Action Plan Conduct

Managers review list of candidates

Compile list of candidates

Collecting relevant performance information Documenting work history Conducting selfassessment

Discuss candidates against succession needs and each other - Strengths - Weaknesses

Feedback meeting with each Candidate Candidate updates Development Plan & Goals in Development Engine

Finalize readiness ratings

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The management process involves evaluating position vacancies and needs, evaluating the strength of the candidate pools, and determining the best way to deal with a position vacancy. Some vacancies will be filled with the best-qualified candidate from the pool. Others may be filled with a high potential (but inexperienced) candidate or involve restructuring the position or changing the timing of when it is filled.

Succession Management Process

6. Compile, Maintain & Report Data 7. Respond to Vacancies & Risks Consider other approaches to meet the position need Identify best candidate to fill vacancy Identify new candidates for succession Revise candidate pools

Create & maintain Candidate Profiles Report and maintain information on Candidate pool as a whole Discuss Candidate pool needs on a macro level

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Thank you

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