succession planning and the development of your high potentials
TRANSCRIPT
Presenting Today
Jeremy LiebDirector of Recruiting
Follow along on Twitter: #BizWebinar @BizLibrary
Erin BoettgeContent Marketing Manager,
BizLibrary helps organizations succeed by improving the way employees learn.
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? What is your most pressing concern about your next generation of leaders?
When well managed, succession planning is a cost-effective, motivational process that helps organizations ensure they have the right leaders in the right place at the right time.
A practical model you can use for selecting participants for a succession planning or HIPO development program.
How to determine key competencies and development plans for your high potential employees.
What we hope you’ll take-away
What Keeps HR Leaders Up at Night?
It’s not just succession to the top – it’s getting the right person in place for every job. Some of tomorrow’s key jobs may not even exist now.
SOURCE: Robert M. Fulmer, Growing Your Company’s Leaders
Critical Trends
• Broad market forces and trends
• Emerging competencies
• Future job needs – likely unknown today
• Reduced employee loyalty
Succession Planning and The Bottom Line
Aligned with organization’s strategic objectives.
Analysis of current and future capabilities.
Focused on potential and values.
Perceived as relevant and real by participants.
Drives a culture of continuous learning and development
O
ST
STRENGTHSWill our strengths prepare us for future
success?
WEAKNESSESWhat steps must we take to improve or
minimize risk?
OPPORTUNITIESWhat are our greatest opportunities for
growth?
THREATSWhere are we vulnerable?
W
Continuous adjustments based on
organizational goals
Requires executive involvement and
support
Alignment
• What are our greatest opportunities for growth?
• Are our strengths aligned to take advantage of them?
• Do our weaknesses stand in the way?
• Where are we vulnerable?
• Are our biggest threats external or internal?
• Market-driven or competition?
• Lack of talent or not the right talent?
OPPORTUNITIES THREATS
Deciding Whom to Groom…
Self selection, assessments, observation
Evaluating readiness
Capabilities
LOW SELF AND HIGH OTHERS
• Under utilized skills• Motivation to excel may be issue
- career goals may not be aligned with area
HIGH SELF AND HIGH OTHERS
• Areas of true strength• Focus for development• Opportunity for major gains in
productivity and career growth
HIGH SELF AND LOW OTHERS
• Blind Spots• Substantial need for coaching• Opportunities for significant
career conflict and disaster
LOW SELF AND LOW OTHERS
• Areas to avoid and move away from to the extent possible
• Coach techniques to minimize potential career harm
Performance Ratings on Self and Others5
4
3
1
2
High
Low
OTHERS
541 2 3
HighSELFLow
Potential
Understanding of current and future trends for
organization.
Curiosity, insight, engagement, determination
Low Performance andHigh Potential
High Performance and
High Potential
High Performance and
Low Potential
Low Performance and Low Potential
Performance to Potential5
4
3
1
2
High
Low
POTENTIAL
541 2 3
HighPERFORMANCELow
Relevancy
Communicate the why, how and when.
Clearly define standards, requirements and
competencies
Managers need to stretch, challenge, and coach their high-potential employees…
Without multi-dimensional dialogue about these issues, managers tend to hold on to their high-potential people instead of helping them along an intentional developmental pathway.
High-potentials then may interpret this as a lack of company support and will be inclined to look elsewhere.
SOURCE: Ron Ashkenas, The Paradox of High Potentials , Harvard Business Review
Learning How to Learn• Developing relationships
• Formal training
• Receiving feedback
• Self-awareness
• On-the-job experiences
Developing Leaders at All LevelsSupervisory And Team LeadHigh Potential Employees
ManagingNew Managers and Newly Promoted
Advanced LeadershipMid and Senior Level Managers
Executive DevelopmentSenior Directors and Vice Presidents
EXPLORATION
CONSIDERATION
TRANSITION
ADOPTION
Succession Planning Phases
Succession Planning for New Managers
CONSIDERATION EXPLORATION TRANSITION ADOPTION
• Seminars• Informational
interviews• Job shadowing• Focus groups
Selection
• Formal and informal training
• Acting manager• Job rotation• Project manager
• Formal and informal training
• Mentoring• Networking
• Formal and informal training
• Mentoring• Feedback• Peer evaluation
Roles and Responsibilities
Processes and Procedures
Professional Identity Information
PRE-PROMOTION POST-PROMOTION
SOURCE: A Succession Plan for First Time Managers, Maria Plakhotnik and Tonette S. Rocco, T&D Magazine, December 2011
What are my development objectives?
What activities do I need to undertake to achieve my objectives?
What support/resources do I need to achieve my objectives
What are the measures of success?
Target date for achieving my objectives
Create an Individual Development Plan
Key Take-Aways
When well managed, succession planning is a cost-effective, motivational process that helps organizations ensure they have the right leaders in the right place at the right time.
A practical model you can use for selecting participants for a succession planning or HIPO development program.
A method for determining key competencies and development plans for your high potential employees.
Getting Started with Succession Planning
4 Part Video Series
• Succession Planning: People Back-Up
• Succession Planning: 8 Critical Steps
• Succession Planning: The Transition Process
• Succession Planning: The Private Business
Create a Mentoring Program
5 Part Video Series
• What is Mentoring• Why a Mentoring Program• Creating a Mentoring Program• Mentoring Meeting Guidelines• Making a Mentoring Agreement
Try out these video lessons and more!
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www.bizlibrary.com/resourcesFor Upcoming and On-Demand Webinars
Steps to Success: Improving the Overall Effectiveness of Your
Employee Engagement ProgramLive Event: Wednesday, September 7th
1:00PM Central/2:00PM Eastern
Push or Pull: Making Training Work for Your Organization
Live Event: Thursday, August 18th1:00PM Central/2:00PM Eastern
The Power of Stay Interviews for Employee Engagement and
RetentionLive Event: Wednesday, September 13th
1:00PM Central/2:00PM Eastern
Stay in Touch
Thanks for attending, feel free to reach out and connect!
Erin BoettgeContent Marketing Manager
Jeremy LiebDirector of Recruiting