Succession Planning and the Development of Your High Potentials | Webinar 02.03.15
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Transcript of Succession Planning and the Development of Your High Potentials | Webinar 02.03.15
WEBINAR BROUGHTTO YOU BY:
?What is your most pressing concern about your next generation of leaders?
WHAT YOU’LL TAKE-AWAY
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.
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. 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
STRENGTHS
Will our strengths prepare us
for future success?
WEAKNESSES
What steps must we take to
improve or minimize risk?
OPPORTUNITIES
What are our greatest
opportunities for growth?
THREATS
Where are we vulnerable?
ALIGNMENT
Continuous adjustments based on organizational goals
REQUIRE EXECUTIVE INVOLVEMENT
OPPORTUNITIES THREATS
Are our strengths aligned to
take advantage of
opportunities?
Do our weaknesses stand in
the way?
Where are we vulnerable?
Can we influence or control
biggest threats?
Market-driven or
competition?
Lack of talent or not the
right talent?
What are our greatest
opportunities for growth?
Deciding Whom to Groom
CAPABILITIES
Self selection, assessments, observation
EVALUATING READINESS
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
5
5
4
4
3
1
2
1 2 3
High
High
Low
PERFORMANCE RATINGS OF SELF AND OTHERS
OTHERS
SELF
POTENTIAL
Understanding of current and future trends for organization.
CURIOUSITY, INSIGHT, ENGAGEMENT, DETERMINATION
LOW
PERFORMANCE
AND
HIGH POTENTIAL
HIGH
PERFORMANCE
AND
HIGH POTENTIAL
HIGH
PERFORMANCE
AND
LOW POTENTIAL
LOW
PERFORMANCE
AND
LOW POTENTIAL
5
5
4
4
3
1
2
1 2 3
High
High
Low
PERFORMANCE TO POTENTIALPOTENTIAL
PERFORMANCE
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.
Ron Ashkenas,The Paradox of High Potentials
Harvard Business Review
LEARNING
A learning culture has five key elements.
HOLISTIC THINKING, INTEGRATED LEARNING, CHANGE
CAPACITY, COLLABORATION AND COMMITMENT
Supervisory and Team Lead
HIGH POTENTIAL EMPLOYEES
Managing
NEW MANAGERS AND NEWLY
PROMOTED
Advanced Leadership
MID AND SENIOR LEVEL MANAGERS
Executive Development
SENIOR DIRECTORS AND
VICE PRESIDENTS
DEVELOPING LEADERS AT ALL LEVELS
EXPLORATION
CONSIDERATION
TRANSITION
ADOPTION
SUCCESSION PLANNING PHASES
Succession PlanningPhases Pre-Promotion Post-Promotion
Consideration Exploration Transition Adoption
Focus Selection Roles and
Responsibilities
Processes and
Procedures
Professional
Identity
Information
Time Frame 1+ Year 1 Year or Less 1st 100 Days 6-18 months
Activities • Seminars
• Informational
interviews
• Job shadowing
• Focus groups
• Training
• Acting
Manager
• Job
Rotation
• Project
Manager
• Training
• Mentoring
• Networking
• Training
• Mentoring
• Feedback
• Peer
Evaluation
A Succession Plan for First Time Managers, Maria Plakhotnik and
Tonette S. Rocco, T&D Magazine, December 2011
CREATING MENTORING PROGRAMS THAT WORK!
Course: Mentoring: Creating a Mentoring Program
Course: Mentoring: Why a Mentoring Program
Creating a Framework for Execution
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Jessica Petry
Sr. Marketing Specialist
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@BizLibrary
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Vice President of Marketing
@chrisosbornstl
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