Succession Planning and the Development of Your High Potentials | Webinar 05.05.15
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Transcript of Succession Planning and the Development of Your High Potentials | Webinar 05.05.15
Improve employee performance with the largest
and fastest-growing library of training videos.
?What is your most pressing
concern about your next
generation of leaders?
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.
What we hope you’ll take-away
What Keeps HR Leaders Up at Night?
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.
SOURCE: 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?
Continuous adjustments based on organizational goals
REQUIRES EXECUTIVE INVOLVEMENT
Alignment
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
Self selection, assessments, observation
EVALUATING READINESS
Capabilities
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
PERFORMANCE RATINGS ON SELF AND OTHERS
5
4
3
1
2
High
Low
OTHERS
541 2 3
HighSELFLow
Understanding of current and future trends for organization.
CURIOUSITY, INSIGHT, ENGAGEMENT, DETERMINATION
Potential
Low Performance and
High Potential
High Performance
and
High Potential
High Performance
and
Low Potential
Low Performance and
Low Potential
PERFORMANCE TO POTENTIAL
5
4
3
1
2
High
Low
POTENTIAL
541 2 3
HighPERFORMANCELow
CLEARLY DEFINE STANDARDS, REQUIREMENTS AND
COMPETENCIES
Relevancy
Communicate the why, how and when.
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.
SOURCE: Ron Ashkenas, The Paradox of High Potentials , Harvard Business Review
Learning How to Learn
Developing Relationships
Formal Training
Receiving Feedback
Self-Awareness
On-the-Job Experiences
Developing Leaders at All Levels
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
EXPLORATION
CONSIDERATION
TRANSITION
ADOPTION
Succession Planning Phases
Succession Planning for New Managers
CONSIDERATION EXPLORATION TRANSITION ADOPTION
• Seminars
• Informational
interviews
• Job shadowing
• Focus groups
Selection
• Formal and informal
training
• Acting manager
• Job rotation
• Project manager
• Formal and informal
training
• Mentoring
• Networking
• Formal and informal
training
• Mentoring
• Feedback
• Peer evaluation
Roles and
Responsibilities
Processes and
Procedures
Professional Identity
Information
PRE-PROMOTION POST-PROMOTION
SOURCE: A Succession Plan for First Time Managers, Maria Plakhotnik and Tonette S. Rocco,
T&D Magazine, December 2011
What are my development
objectives?
What activities do I
need to undertake to
achieve my objectives?
What support/resources
do I need to achieve my
objectives
What are the
measures of
success?
Target date
for achieving
my objectives
Create an Individual Development Plan
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.
A method for determining key competencies and
development plans for your high potential employees.
Key Take-Aways
QUESTIONS
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Course: Problem Solving:
Process, Tools, and Techniques
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and fastest-growing library of training videos.
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Jessica Petry
Sr. Marketing Specialist
@JessLPetry
@BizLibrary
Chris Osborn
Vice President of Marketing
@chrisosbornstl
#BIZWEBINAR
