STRATEGIC SUCCESSION PLANNING for HIGH BUSINESS IMPACT

SUCCESSION PLANNING REDEFINED?

Succession planning is an organization strategy which outlines the pro-active planning and re-active measures that an organization needs to put in place, in it’s journey towards becoming a world-class organization with mature processes and established business practices.

Best-Fit Recruitment Strategies, Forward-looking Retention Strategies and key Learning & Development strategies are the most effective techniques for a rewarding succession planning.

SUCCESSION PLANNING LIFE CYCLE

 STRATEGIC WORKFORCE PLANNING

• Identifying the long-term vision and strategic direction well in advance
• Analyzing future requirements for people and process
• Using past data and lessons learnt
• Aligning succession planning to the DNA of the organization
• Aligning succession planning to the organizational goals

GAP ANALYSIS

• Identifying core /domain and technical competency requirements
• Determining current level of competencies and skills
• Anticipate demand for developed competency areas and skill areas
• Determining talents needed for the long term organizational growth
• Identifying “real” continuity issues
• Develop a business /department plan based on long-term talent needs, and not on immediate position replacement

IDENTIFY BEST-FIT TALENT POOLS

• Aligning candidate pools vs. development of positions
• Identifying talent with critical competencies for multiple levels /job families – typically early in careers and in planned periodicity
• Assessing competency and skill levels of current workforce, using assessment instrument(s)
• Using 360° feedback / 3600 training need analysis for employee development
• Analyzing external talent sources in case of lack of internal talent pools

DESIGN AND DEVELOP SUCCESSION STRATEGIES

• Identifying recruitment strategies like recruitment & relocation bonuses
• Identifying retention strategies like retention bonuses & quality of work life programs
• Identifying development/learning strategies like Planned job assignments, coaching and mentoring, periodic assessments & feedback and action learning projects

IMPLEMENT SUCCESSION STRATEGIES

• Implementing recruitment strategies (e.g., recruitment and relocation bonuses)
• Implementing retention strategies (e.g., retention bonuses, quality of work life programs)
• Implementing development/learning strategies (e.g., planned job assignments, coaching & mentoring & formal development)
• Linking succession planning to HR Processes like Performance Management, Compensation, Rewards & Recognition, Recruitment & Retention and Workforce planning

EVALUATE EFFECTIVENESS

• Tracking succession selections from Talent Pools
• Analyzing Leadership feedback on success of internal talent and internal promotional hires
• Analyzing satisfaction surveys from customers, employees, and stakeholders
• Assessing quality and quantity of response to changing requirements and needs