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HUMAN CAPITAL Succession Management :The Challenges and OpportunitiesBarttanu Kumar DasSr. VP and Head-HRBlue Dart Express
The Agenda • Need for Succession Management • The Enablers • Framework : Succession, Assessment & Development • Development Initiatives & Programmes • Critical Success factors
LEADERSHIP PIPELINE : THE CHALLENGES • Entry of Young Talents from Management Schools • Increasing demand for talent due to economic growth • Leadership Pipeline Development- Internal • War For Talent • Mobility Of Talents
BEST COMPANIES DEVELOP LEADERS FROM WITHIN (McKINSEY STUDY )
Succession Planning … The Basics • Talent Development Philosophy of the Organization : Long-Term Approach as part of Talent Mgt • Top Management Commitment : Time, Coaching, Review , Opportunities, Exposure • Internal Vs External • Leadership Assessment and Development Framework/Architecture • Ownership at all Leadership Levels
Developing Successors – The Enablers… • A deep conviction: leadership strength is critical to the organization • Culture of growing People from within • Career Management/Planning Process • Individual Career Aspirations process • Consistency and Uniformity • Making People Known and comfortable
Developing Successors – The Enablers… • Mechanism of catching them young and giving responsibilities/challenges and testing in various situations • Continuous Feedback/ Coaching and Mentoring • Leaders develop leaders • Competitive Compensation and Rewards • Learning and Development opportunities – Best in Class
TIME AND ENERGY INVESTMENT BY CEO TO THE PROCESS • Devoted between 30-40% of his time in first two years on job to leadership issues, and a good 20% later • “That’s a huge amount of time for a CEO to devote to any single task but I’m convinced it accounts in large part for Allied Signal’s success” • Larry Bossidy • 30-40% of his time on people issues • Personally reviewed top 400 people; involved in selection and compensation for 125 in detail, • Jack Welch • 40% of his time on people issues • 2 months each year spent on reviewing top 550 managers • “There’s nothing I do that’s more important. I spent 80 hours preparing for the people reviews – its more important than our budgeting reviews” • Wayne Calloway
Succession Planning Framework Develop Initiate Identify Evaluate Identify candidates and competency gaps Provide leadership Trg/Exp/ Coaching Review process and evaluate the effectiveness Define scope and establish accountabilities Identify critical positions • Gain commitment from senior management for the process • Define scope of succession planning (in terms of levels for which applicable) • Establish accountabilities • Identify key jobs: Business Critical Positions • The above to be aligned with retirement, business growth, Career Plans, attrition, scarce skill sets and future risks of loosing etc • List high performing high potential candidates • 3/3 Matrix • Assess candidates against competencies for target jobs and identify competency gaps • Develop training and development programs for individuals which include • Job rotation • Job enrichment • Special Projects • Shadow Running • Development programs • Establish a review schedule for the succession plan • Develop metrics for evaluating effectiveness of the process
Leadership Assessment and Development Framework • Review and Feedback • System • Leadership • Competency Model/ • Framework • Assessment / Evaluation • Robust Performance Mgt System • - Assessment and Development Center • Leadership Profiling • 360-degree Feedback • Leadership Programmes • Planned input at all important career change • Coaching & Mentoring • Projects
A Development Framework…. Leadership competency framework a Assessment and development center/ 360-Degree Feedback Leadership Profiling through Leadership Assessment Tools Administration of The Tool Conduct of assessment and development centre/ 360-degree Assessment of Leadership Potential and Identification of gaps and development needs Preparation of individual Reports and recommended interventions/Positions Follow-up on development initiative
Some Development Initiatives On-the-job training Regular review of high potential Talent Stretch Assignments Mentoring In-house Development Programs Talent Development Initiatives External Training programs Exposure to senior managers Coaching Job Shadowing External Certifications On-line learning programs Rotational assignments
Planned Leadership Programmes LDP-4 LDP-2 LDP-1 LDP-3 Profit Centre/Functional Heads Business Leaders First Time Leaders Leaders of Leaders Preparation for senior leadership positions Preparation for company key positions Preparation for general management positions First level management positions Strategy for Growth & Transformation Business Leadership Leadership Qualities Management of others Local G-Local G-Local Global
LEADERS DEVELOP FUTURE LEADERS • It is not enough to have leaders. Leaders need to develop leaders under them. Winning organizations have leaders at every level • Top Management spends quality time with Top performers – To be led by CEO of the Orgn • Needs to be part of KRA/Individual Goals • Developing others – a part of Orgn Culture • Continuous feedback to all leaders in terms of their ‘Leadership and Supervisory Style’
DEVELOPMENT PLAN: RESPONSIBILITY CENTER • - Identify areas • of development • - Individual to work • alone • - Identify initiatives • for the individual & • the Organization • Provide all support • Organize intervention • for the individual • - Review after one year • - Identify the • Organisational • gaps • - Organize • Organisational • level intervention Individual Plans : Responsibility of Individual Individual Plans : Responsibility of Individual & Orgn. Organizational level plan : Responsibility of Orgn.
“ At the end of the day you bet on People not on Strategies” Larry Bossidy CEO-Allied Signals