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Practical Succession Planning in the Age of a Restless Workforce

Practical Succession Planning in the Age of a Restless Workforce. Rana Hobbs, Director of Customer Success May 30, 2012. Rana Hobbs. Director of Customer Success, HumanConcepts

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Practical Succession Planning in the Age of a Restless Workforce

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  1. Practical Succession Planning in the Age of a Restless Workforce Rana Hobbs, Director of Customer Success May 30, 2012

  2. Rana Hobbs • Director of Customer Success, HumanConcepts • More than 15 years of experience with Human Capital Management (HCM) solution providers including SuccessFactors, Infohrm and IDC

  3. Agenda • Reasons for Succession Planning • How To Manage the: • Process • Technology • Workforce • Q&A

  4. Compelling Reasons for Succession • Only 24%of organizations are confident in their ability to staff leadership positions during the next 5 years (Watson-Wyatt) • By 2018, 1 in 4 workers will be age 55 & over (42MM people) (US Department of Labor, Labor Statistics) • In a study of 1,000 NA employees, 84% said they plan to look for another position in 2012 (Right Management Survey)

  5. Avian Succession Planning

  6. What is Succession Planning? • Proactive, long-term, management-level strategy for recruiting, selecting, and developing a core group of employees as replacement candidates for specifically identified key management positions

  7. Business Drivers for Succession Business Drivers for Succession • Career Development • Risk Management • Business Continuity • Workforce Planning

  8. Levels of Succession

  9. Turn the Plan into Action • It’s not about planning, it’s about development • Having a plan in place is just the beginning • Need incremental development for identified successors • Measure the outcomes, not the process • Not just about measuring succession plans completed • Measure % of executive roles filled with internal candidates • Keep it simple • Planning is just the precursor to development • Maintain focus on action not just on the details of the plan • Realistic • Being identified as a successor is a retention and developmental strategy for high performers • Don’t commit unless they are realistic candidates 4 Tips for Efficient Succession Planning, Harvard Business Review, 2009

  10. Steps to Succession • Select targeted or key positions • Create or purchase a competency library • Define position competencies for each position • Assign competencies from the library to each position • Solicit participants to become candidates • Gather participant skills inventory • Conduct assessments comparing participant skills to position competencies • Select candidates – generic or specific • Match candidates to positions • Determine candidate/position competency gaps (gap analysis) • Provide training prescriptions by candidate/position to fill gaps • Track training prescriptions • Provide periodic assessment and reassessment • Qualify participants • Pool participants by position and apply candidates to positions • Determine the “readiness” level of each candidate • Re-qualify as position and individual data changes • Provide various metric reports throughout the process

  11. Assessing Successors • Selection criteria to identify potential successors: • Performance vs potential • Readiness and willingness to take on more and move up • Personal career and location aspirations • Education and experience • Skills and qualifications

  12. Supporting Succession • Maintaining a steady supply of successors for pivotal roles across the organization depends on: • Career Development to help employees achieve their full potential • Performance Management to evaluate and improve the effectiveness of employees • Recruiting to fill positions with the best available talent and to look to fill developmental roles with internal talent • Workforce planning to anticipate and prepare for future talent needs

  13. A View into Succession • Key business questions answered: • Can you quickly identify and assign successors in relation to your other workforce data/globally and for your key job roles? • Can you quickly assess successor pool candidates for developmental needs and understand the compensation/budgetary/performance ramifications of making them a successor?

  14. Identifying Internal Candidates • Key business questions answered: • Do you know what skills and talent is available within your organization? • Can you easily identify available developmental roles /project opportunities for successors? • How many of your key employees will become eligible to retire?

  15. Retirement Eligible Doesn’t Mean the End • Retirement eligible population represents some of the greatest opportunity and risk • Conduct a strategic workforce analysis • Refine your retention strategy • Identify, prioritize and engage potential retirees • Prepare senior and emerging leaders • Create knowledge transfer opportunities Passing the Torch: 5 Steps for Turning the Baby Boomer Brain Drain into a Brain Trust, UNC, 2011

  16. Succession Planning in Summary • Reduce and manage operational risk • Identify the pivotal talent needed to ensure the success of critical business initiatives • ƒƒProactively develop and prepare bench strength to meet new growth challenges • Enhance workforce effectiveness and retention of pivotal talent

  17. Q & A

  18. Contact Us • For more information, please contact us: HumanConcepts Visit: www.humanconcepts.com Email:info@humanconcepts.com Telephone: 415-332-3030 Toll Free: 1-888-821-1261 UK: +44 (0) 1392 823023 Germany: +49 (0) 211 641365-0

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