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HR SUCCESSION 101 The Basics…

Learn the basics of succession planning, including its definition, purpose, and key components. Find out how to develop a succession plan and choose positions for succession. Explore the importance of career planning, management, and replacement planning.

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HR SUCCESSION 101 The Basics…

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  1. HR SUCCESSION 101The Basics… By Robin Bullock PHR

  2. Succession… What does it mean? • > a number of persons or things following one another in order or sequence. • > the right, act, or process, by which one person succeeds to the office, rank, estate, or the like, of another. • >the assumption of a position or title, the right to take up a position or title, or the order in which a position or title is taken up

  3. What is Succession Planning? • Succession planning is the deliberate preparation and recruiting (normally by HR Departments or assigned company management) plan that strengthens growth in leadership and management, prepares for unexpected turnover or expected retirement in highly critical or decision making positions. A highly successful plan creates a clear growth pattern for high performers in the organization and predicts the metrics or skills needed for future success.

  4. Planning, Planning, Planning • Career planning. An employee-centered practice of identifying the interests of the employee and assisting that individual, as well as providing personal development options consistent with those talents and interests. • Career management. An organization-centered practice of creating jobs and organizational structures that promotes the achievement of business objectives. • Replacement planning. A shorter-termed practice of identifying replacements for personnel in key operating functions. • Succession planning. The future-focused practice of identifying the knowledge, skills and abilities to perform certain functions and then developing a plan to prepare multiple individuals to potentially perform those functions. www.shrm.org/research/articles/successionplanning

  5. Preparing a Succession Plan – Step one • Develop first with C Suite buy-in the purpose and reason. • Determine the metrics and key factors as well as what positions will be involved in the plan • How often will the plan be reviewed? • Who will have access to the plan? • What format will it take? Training? • How will we know it’s working? Successful?

  6. Key Components…. • Preparation of Tool • Deliberate Metrics and Key drivers • Highly Successful Leaders and top of bell curve 10% performers • Include the A, B, & C performers • Predicts the key areas of vulnerability • Plans for the future • Creates a clear path for success for both company and individual

  7. Who, When, and How? • The HR Department normally is involved and assists with the C Suite with the succession plan • HR files the plan behind lock and key • The plan is reviewed at key times normally quarterly or annually depending on the size of the company • Succession planning is a focused (but not necessarily complicated) program of keeping talent in the pipeline. It is generally a 12- to 36-month process of preparation, not pre-selection. • All organizations can benefit from Succession planning no matter what size or location

  8. Choosing by position…. • C Suite – CEO, CFO, COO, CAO, CIO • These are key positions that if left open can leave a company vulnerable and susceptible to take overs and public scrutiny • Key Critical positions – Regional Directors, Regional Sales, Corporate HR, Corporate IT, Corporate Accounting • Highly unique positions – • Education and experience are hard to get in the market (ex; laser surgery, professional engineers with specific study, program writers, specialized recruiters) • Positions with high amount of expected retirement

  9. Sample Succession Plan for Management

  10. Succession plan for key positionIT – Director or Key Manager

  11. Succession plan for Retirement • Pull workforce years of experience • Survey employees with 25 years or more experience in industry • Survey those we know retiring • Create chart of dates for retirement • Develop autobiography of workers path in career and with company • Spreadsheet of open positions in next 12-60 mos. • Update regularly

  12. Succession Planning Recap • Prepare • Plan • Promote • Update • Train • Communicate

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