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CalPERS Succession Planning Model


Chris OBrien, Chief, Human Resources Pat Santillanes, Assistant Chief, Human Resources

Presentation Overview
  

Background Scope Strategic Leadership Framework


Succession Planning Process Succession Management Process

  

Accomplishments & Challenges Recommendations for Success Summary & Wrap-up

Background
  

Existing WorkForce Planning at CalPERS 2002 - Strategic direction to focus on Succession Planning Established Succession Planning & WorkForce Management Project (SPWMP)
Adopted Leadership Development Framework Demographic Profile of CalPERS Leadership Risk Assessment to establish scope

Scope


Leadership Assessment (Interviews and Focus Groups)


Retirement Risk Analysis of 129 Leaders Readiness: Current & Future Skills Critical Positions identified

Leadership Development: Building the Bench


Recruitment Development Succession

Develop and Implement the Framework


Integrate into the annual business planning cycle

Leadership Commitment: Retirement Risk Analysis


According to the analysis conducted, 17% of the 129 leaders today fit the category of immediate risk for retirement. If the current group continues to remain in their roles, by the year 2009 that number will increase to 43%.
Top 129 Leaders: Retirement Risk Progression
100.0% 75.0%

Low Risk
50.0%

32%
25.0% 0.0% 2004 2007 Years 2009

Moderate Risk 43% Immediate Risk

17%

Immediate Risk: Moderate Risk: Low Risk:

Incumbents age 60 today or age 55 with more than 10 years service Incumbents will reach Immediate Risk within next 5 years Not in either of above categories

Leadership Readiness: Current & Future Skills


Most leaders have the skills required to perform effectively in their current roles, but future skill requirements will be quite different and a more formal approach to providing development is necessary.
Current Leadership Skills


Future Skill Requirements




Leaders differ in their perception about skills of the current team Most leaders have made career progress through self-initiated assignments and visible projects Most leaders understand the political context in which CalPERS operates; but, dont incorporate that into their daily performance

A broader, cross-functional understanding of CalPERS, including its strategic direction and how each function contributes Environmental awareness and ability to see a problem from a multi-faceted perspective Negotiation skills, team building, and conflict management Ability to navigate the political landscape Ability to lead and engage people (e.g., interpersonal skills), in particular to influence diverse stakeholders and constituencies Deeper and broader business acumen, to analyze problems and make decisions (e.g., financial, marketing, operations, technical, strategic) Ability to think strategically and creatively, to develop new products, processes, or solutions to meet a business need

Middle managers have not been valued and developed as future leaders
 

 

Do not have formal networks to share information Lack chance to work in more than one department / function Do not receive communication and attention to broaden or develop skills Many have worked for other organizations & state agencies and have a broader set of experiences that is not being leveraged
 

Strategic Leadership Framework


Strategy Direction & Expectations Leadership Assessment & Feedback Multi-source assessment (360) Employee Survey Other Assessment Assessment Center Exec Assessment Individual Performance Review Track record of results Values and competencies Development needs Top Leadership Skills Assessment Career history Performance & potential Strengths/gaps Future options Individual and Benchwide Planning Leadership Development Actions Development through work assignments Change in job content or scope Job reassignment Project initiative or action learning Learning from others External executive coaching Mentoring Succession Planning Analysis of top talent slate Comparison to business needs Vulnerability Scenario charts for potential succession Training-based development Internal leadership curriculum External training or education Self-directed study Accountability for Results Broad Context Overall strategy Culture/values Leadership development principles Leadership expectations Specific Business priorities, goals and measures Business initiatives Leadership skills and staffing for today & in future Unit-specific strategies and expectations Individual Development Planning Strengths Gaps Development goals Executive development action plan

Measurement and reporting of retention, performance, and development results

Requirements of Leader

Understanding of Candidate/ Possible Personnel Action

Hi-Potential Pool & Candidate Slates

Note: The Leadership Development Process is iterative with feedback loops between and within phases.

Strategy Direction & Expectations

Leadership Assessment & Feedback Multi-source assessment (360) Employee Survey Other Assessment Assessment Center Exec Assessment Individual Performance Review Track record of results Values and competencies Development needs Top Leadership Skills Assessment Career history Performance & potential Strengths/gaps Future options

Individual and Benchwide Planning

Leadership Development Actions Development through work assignments Change in job content or scope Job reassignment Project initiative or action learning Learning from others External executive coaching Mentoring

Accountability for Results

Broad Context Overall strategy Culture/values Leadership development principles Leadership expectations Specific Business priorities, goals and measures Business initiatives Leadership skills and staffing for today & in future Unit-specific strategies and expectations

Individual Development Planning Strengths Gaps Development goals Executive development action plan

Succession Planning Analysis of top talent slate Comparison to business needs Vulnerability Scenario charts for potential succession Training-based development Internal leadership curriculum External training or education Self-directed study

Measurement and reporting of retention, performance, and development results

Requirements of Leader

Understanding of Candidate/ Possible Personnel Action

Hi-Potential Pool & Candidate Slates

Note: The Leadership Development Process is iterative with feedback loops between and within phases.

Strategic Leadership Framework


(Continued)

Strategy & Direction


Updated Strategic Plan (BOA approved 9/05)


Integrated Business Objective

Leadership Assessment & Feedback


Bi-ennial Employee Survey Competency model (13 categories)


360 Multi-rater Leadership Feedback Survey


Web-based survey process Action plan follow-through with DevelopmentEngine

Individual Performance Reviews (annual) Top Leadership Skill Assessment Process




SSMII+ and/or Equivalents

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 Candidate Profiles 3. Assess Readiness 4. Conduct Leadership Skills Assessment (LSA) Session 5. Modify/Update Development Goals & Action Plan

Identify candidates for succession through selfnomination process Managers review list of candidates Compile list of candidates

Candidate builds the profile by:  Collecting relevant performance information  Documenting work history  Conducting selfassessment

Manager completes:  Review 360 roll-up  Review the profile & self-assessment  Rate candidates readiness to assume greater responsibility  Rate Risk for Separation  Identify positions for future succession  Aggregate Readiness Assessments

Review Roles & LSA process Discuss candidates against succession needs and each other - Strengths - Weaknesses Finalize readiness ratings

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

Succession Management Process


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.

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

Strategic Leadership Framework


Candidate Assessment & Feedback 360 and LSA
Executive Coach Discussions Manager Discussions Self Reflection

CalPERS Planning Process


Strategic Goals and Plans Operational Goals and Plans Key Initiatives Internal and External Issues

Candidate Development Goals


Skills and knowledge Experiences Relationships

Leadership Development Opportunities


Rotational Assignments Special Projects Experiences (e.g., Board Meetings)

Quarterly Business Learning Council Meeting (Spring 2006)


Assignment of candidates to special development opportunities Selection of candidates to attend CalPERS executive program Review of overall leadership and succession effectiveness

Accomplishments & Challenges


To develop this market practice scorecard, the CalPERS Succession Planning team compared leadership programs to those at comparable sized firms in both the public and private sector (since CalPERS straddles the gap, comparison organizations might be the Federal Reserve Bank or Fannie Mae). The ratings are our subjective judgment, based on experience in consulting as well as the professional literature and conferences. Assessment Areas Recruiting, Promotion and Career Leadership Development: Overall Positioning Leadership Development: Assessment & Feedback Leadership Development: On the Job Leadership Development: Formal Training (4) (2) (1) (7) (5)
Market Practice CalPERS

Performance Management & Executive Compensation (3) Retirement Alternatives (6)

Legend:

5 Significant Strength

Significant Gap

Recommendations for Success


Keep the process simple  Engage technology to support the process  Align succession management with overall business strategy  Secure senior level support for the process


Summary & Wrap-up


Succession management is a continuous process  Ongoing commitment of top executives, Human Resource staff, and Strategic Planning specialists  Journey not a destination  Questions & Answers


RESOURCES
Alliance for Strategic Leadership www.a4sl.com


Fort Hill Company www.ifollowthrough.com