Succession Planning
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Transcript of Succession Planning
Succession Planning
Succession Planning
Deepti Sangra 47
B.Meenakshi 08 Rajalakshmi R 38 Rohita Salvi 45
Ompal Singh Arya 29
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Integrated Approach
PerformanceManagement
TalentManagement
RewardsManagement
Recruitment &Selection
Career Management
Succession Planning
Senior ManagementDevelopment
Training &Development
Why study Succession Planning ?
Here’s a scary thought…
What would happen to your business if you suddenly
couldn’t function?
Reasons for Succession Programs
• To identify replacement needs• To provide opportunities for high potential
employees (retention)• To increase pool of promotable employees• To support implementation of a strategic business
plan• To guide individuals in their career paths• To improve ability to respond to changing
environmental demands• To improve employee morale• To cope with the effects of downsizing and attrition
Individual
Contributo
rs
Managers
Leaders
Succession planning accelerates the transition of qualified employees from…..
Strategic, systematic and deliberate effort to develop competencies in potential leaders through proposed learning experiences such as targeted rotations and educational training in order to fill high-level positions without favoritism .(Mathew Tropiano, 2004)
Deliberate and systematic effort by an organization to ensure leadership continuity in key positions and encourage individual advancement .(St-Onge, Mercer) A structured process involving the identification and preparation of potential successors to assume a new roles.
Succession Planning -Definition
Explanation
Succession planning is a process for identifying and developing internal personnel with the potential to fill key or critical organizational positions.
Succession planning ensures the availability of experienced and capable employees that are prepared to assume these roles as they become available
Please Note: Constant change (Planning) An organizational journey, not a project Ensuring continuity of leadership Identifying gaps in existing talent pool Identifying and nurturing future leaders
Reality Bytes
Sports
Anil Kumble at the nets as Mahendra Singh Dhoni looks on during a training session in New Delhi. Succession management on the field and in corporate India aren’t so very different. (AFP)
POLITIC
S
Leadership by Absence
Public Service
Opportunity Deprived
CAUTION!!
Aging Workforce In 2001, one of six workers was 55 or over 45% of today’s workforce is between the ages of 40
and 57 Over the next decade, the 55-and-older age group
will rise from 13 to 20 percent of the total workforce Fewer people work longer
Low birth rate 76 million Baby Boomers in workplace
10 million fewer Gen-Xers to replace them upon retirement
Widespread retirement of baby boomer’s generation
Impatience of Gen X & Gen Y ers’
Resurgence of the “War on talent”
Seller’s market for skills
Need for Speed (Who are you trying to hire?)
Succession Planning Process
Actual
Recruitment
process
Training
&
Development
Career
Counseling Planning for
Career paths
Analysis of
demand for
managers &
professionals
Identify Key Position and their
Competencies
Identify long term &
Short term Objectives
Control & Evaluation
Succession Planning
Example – Dow Chemical Company's
Acquiring
Applying
Leveraging
Visioning
General Electric Inc . (1981-2001)
A multinational American Technology and services conglomerate incorporated in the State of New York. In 2009, Forbes ranked GE as the world's largest company. The company has 323,000 employees around the world.
process BY Jack Welch
Succession Planning applied across all tiers of management
With the use of various analytical tools and the involvement of the top management in succession planning
Annual Human Resource Reviews -Session C
Every employee's assessment
Continues……
The succession planning by Welch for his post had started way back in 1994
Developed a list of qualities, skills and characteristics which an "ideal CEO" should posses
“You don't get succession candidates if you don't start with a pipeline.”
- Jack Welch, April 2002
CHALLENGES
Emphasis on Planning
Involvement & Support
Distance from Business
Resources
Accountability
CURRENT TRENDS
Demography
Economy
Loyalty
Recognition
CURRENT TRENDS
Practices
Top Management
Participation
Rigorous & Comprehensive Assessment
Identification of Future Talent Requirements
CURRENT TRENDS
Practices
Structured & Individualized Developmental Programs
Creation of Talent Database
Open Communication
Succession Planning
Thank You
“There is no success
without a successor.”