1 SUCCESSION PLANNING: SUCCESSION PLANNING: Building Your Talent Bench.
WELCOME TO CAPLAʼS · Seven Deadly Sins of Succession Planning ... Define succession planning 2....
Transcript of WELCOME TO CAPLAʼS · Seven Deadly Sins of Succession Planning ... Define succession planning 2....
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WELCOME TO CAPLA’S
LEADERSHIP BREAKFAST SERIES May 29, 2012
SUCCESSION PLANNING
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Avoiding the Seven Deadly Sins
of Succession Planning
Lisa Holden Rovers, Workplace Matters
Verna Moodie, VRM Consulting
May 29, 2012
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1. Define succession planning
2. Identify why succession planning is important
3. Review 7 Sins to Avoid in succession planning
4. Determine your next action step to put your succession plans to work!
Objectives
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Succession Planning: What is it? Why is it Important?
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* Succession planning is a process of developing talent to meet current and future organizational needs
* Intentional effort to: * ensure leadership continuity in key positions * retain and develop intellectual/knowledge capital for the future * encourage individual advancement
Defining Succession Planning
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* Replacement planning is about finding backups to fill vacancies on an organization chart
* Reactive * Risk management * Specific positions
* Succession planning is about grooming the talent needed for the future
* Proactive ‐ future leadership needs * Create a pool of talent
Succession vs. Replacement Planning
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Why Is Succession Planning Needed?
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Add CAPLA graphic
Demographics – CEAMS 2007
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* Financial Post ‐ Feb 7, 2011 * “… strong oil prices, higher drilling activity and growing oil
sands projects are contributing to business optimism.
* U of A Government at a Glance – Oct 2011 * “Western Canada is expected to lead Canada in economic
growth in 2012 … Alberta is forecasted to post the strongest employment growth and the second lowest unemployment rate nationally in 2012.”
* RBC Provincial Outlook – March 2012 * “Western Canada will top the provincial growth in 2012; strong
growth forecasted in Saskatchewan and Alberta.”
Economic Growth in Alberta
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* May 2008 – 3.6% * March 2010 – 7.5% * April 2012 – 4.9%
Unemployment Rates in Alberta
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Engagement Consequences
Organizational * Poor productivity * Quality problems * Customer dissatisfaction * Poor morale and bad attitude * Loss of teamwork and
cooperation
Individual * Increased frustration and stress * Loss of motivation * Ineffective performance * Loss of confidence or self‐
esteem * Job dissatisfaction
Source: Effective Ways of Growing People in Organizations, John C. Maxwell, Maximum Impact Club
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Competitive Advantage
Robert Reich Former Secretary of Labor, USA
“If employers fail to upgrade their workers then they’re trying to be competitive only with their capital. Anybody can replicate physical capital. But the one resource nobody can replicate is the dedication, the teamwork, the skills of a company’s employees.”
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* What reasons make succession planning important to you and your organization?
* What reasons do you have for not making succession planning a priority?
Discussion Questions
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Seven Sins of Succession Planning
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* Sin of Omission: “I haven’t got around to it yet, I’ll have time later.” * Sin of Commission: “I’m not going anywhere soon.”
SHIFT HAPPENS!
Sin #1 ‐ I’ll be here forever
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* Learn as you Go vs. Education Requirements
* Individual Contributor vs. Team
Sin #2 – What mattered then..
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* What are your current perspectives on Succession Planning?
* Do these perspectives still hold true? * If Yes, how are they still true? * If No, what new perspectives
do you need to adopt?
Discussion Questions
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* Six frogs were sitting on a lily pad. * One frog decided to jump off. * How many frogs were left on the lily pad?
The Frog Story
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* Need a plan to implement the Plan * Don’t stay on the lily pad and jump off in a crisis
Sin # 3 ‐ Assume the Plan is the Plan
“Plans do not develop people – only development experiences develop people.” - Marshall Goldsmith
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* Does not need to be complex * A ‘work in progress’ * Look for development opportunities every day
Sin #4 – Assume you need the whole plan figured out
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* Do you have development plans in place? * Are they sitting on the lily pad or are they actionable? * If currently in place, what are you doing to put it into action? * If sitting on the lily pad, what’s one step you can take to put it into action?
Discussion Questions
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• Work /Life balance • Loyalty is no longer long term • May have ability but lack the aspiration
• Sandwich generation • Retiring age but not retiring
Sin #5 – Believing Everyone Wants to Rise through the Ranks
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* Developing one person and they leave! * Retention and engagement * Don’t forget the rest
Sin #6 – Developing only your high potential people
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* Challenge equals growth * May not be interested in a ‘formal’ position * Provide Leadership challenges without the Leadership title
Sin # 7 – Thinking you need a formal position
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* What is your current process for identifying employees with high potential to take on leadership roles? * How do you maintain a balance
between developing high potentials and other staff? * What are some creative ways you
have advanced an employee’s career without a having a formal position available?
Discussion Questions
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The Leader’s Role in Succession Planning
Attract Talent
Develop Talent Retain Talent
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What’s Your Next Action Step?
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THANK YOU!