Succession Planning

Succession Planning

Deepti Sangra 47 B.Meenakshi 08 Rajalakshmi R 38 Rohita Salvi 45 Ompal Singh Arya 29

BUSI

NES

SST

RATE

GY BU

SINESS

RESULTS

Integrated Approach

PerformanceManagement

TalentManagement

RewardsManagement

Recruitment &Selection

Career Management

Succession Planning

Senior ManagementDevelopment

Training &Development

Why study Succession Planning ?

Here’s a scary thought…

What would happen to your business if you suddenly

couldn’t function?

Reasons for Succession Programs

• To identify replacement needs• To provide opportunities for high potential employees

(retention)• To increase pool of promotable employees• To support implementation of a strategic business plan• To guide individuals in their career paths• To improve ability to respond to changing

environmental demands• To improve employee morale• To cope with the effects of downsizing and attrition

Individual

Contributo

rs

Managers Leaders

Succession planning accelerates the transition of qualified employees from…..

Strategic, systematic and deliberate effort to develop competencies in potential leaders through proposed learning experiences such as targeted rotations and educational training in order to fill high-level positions without favoritism .(Mathew Tropiano, 2004)

Deliberate and systematic effort by an organization to ensure leadership continuity in key positions and encourage individual advancement .(St-Onge, Mercer) A structured process involving the identification and preparation of potential successors to assume a new roles.

Succession Planning -Definition

ExplanationSuccession planning is a process for identifying and developing internal personnel with the potential to fill key or critical organizational positions.

Succession planning ensures the availability of experienced and capable employees that are prepared to assume these roles as they become available

Please Note: Constant change (Planning) An organizational journey, not a project Ensuring continuity of leadership Identifying gaps in existing talent pool Identifying and nurturing future leaders

Reality Bytes

Sports

Anil Kumble at the nets as Mahendra Singh Dhoni looks on during a training session in New Delhi. Succession management on the field and in corporate India aren’t so very different. (AFP)

POLITICS

Leadership by Absence

Public Service

Opportunity Deprived

CAUTION!!

Aging Workforce In 2001, one of six workers was 55 or over 45% of today’s workforce is between the ages of 40 and

57 Over the next decade, the 55-and-older age group will

rise from 13 to 20 percent of the total workforce Fewer people work longer

Low birth rate 76 million Baby Boomers in workplace

10 million fewer Gen-Xers to replace them upon retirement

Widespread retirement of baby boomer’s generation

Impatience of Gen X & Gen Y ers’

Resurgence of the “War on talent”

Seller’s market for skills

Need for Speed (Who are you trying to hire?)

Succession Planning Process

ActualRecruitment

process

Training &

Development

Career Counseling Planning for

Career paths

Analysis of demand for managers & professionals

Identify Key Position and their

Competencies

Identify long term &

Short term Objectives

Control & Evaluation

Succession Planning

Example – Dow Chemical Company's

Acquiring

Applying

Leveraging

Visioning

General Electric Inc . (1981-2001)

A multinational American Technology and services conglomerate incorporated in the State of New York. In 2009, Forbes ranked GE as the world's largest company. The company has 323,000 employees around the world.

process BY Jack Welch

Succession Planning applied across all tiers of management

With the use of various analytical tools and the involvement of the top management in succession planning

Annual Human Resource Reviews -Session C

Every employee's assessment

Continues……

The succession planning by Welch for his post had started way back in 1994

Developed a list of qualities, skills and characteristics which an "ideal CEO" should posses

“You don't get succession candidates if you don't start with a pipeline.”

- Jack Welch, April 2002

CHALLENGES Emphasis on Planning

Involvement & Support

Distance from Business

Resources

Accountability

CURRENT TRENDS

Demography

Economy

Loyalty

Recognition

CURRENT TRENDS Practices

Top Management Participation

Rigorous & Comprehensive Assessment

Identification of Future Talent Requirements

CURRENT TRENDSPractices

Structured & Individualized Developmental Programs

Creation of Talent Database

Open Communication

Succession Planning

Thank You

“There is no success

without a successor.”