Lesson 7: Succession Planning

Succession Planning

The continuity of leadership within organizations. It includes the process of identifying and developing talent.

It promotes employee growth and career advancement opportunities, fosters a culture of talent development and retention

• Talent Management and Development

• Human Resources

• Department Heads

• Top Management

Key Positions

• Urgency

• Impact

• Skills

• Internal Talent

• External Talent

Defining Criticality

Successors

Identified based on performance, potential, skills, and competencies.

Are either internal candidates or sourced externally.

• Talent Profiling

• Talent Review

• Talent Development

• Talent Monitoring

Succession Planning Activities & Tools

Talent Profiling

Identify talents that have a good understanding of key responsibilities of the critical position and possess the capability or have the potential to learn the capability.

Talent Review

Assess critical talent’s aspirations, abilities, and readiness to craft a development plan following the role.

Talent Development

Execute development plans to ensure the steady growth of talent towards desired level of proficiency.

Talent Monitoring

Track the progress of talent’s development and gauge if the talent is ready for the new position or if there is a change to their readiness.

Capabilities

innate or developed abilities and attributes of individuals or organizations.

It represents a capacity to perform tasks.

These are often the foundation which competencies and skills are built.

Competencies

specific clusters of knowledge, skills, and behaviors that individuals or teams need to perform a role or function effectively.

are more job-specific and encompass a range of capabilities and skills.

Skills

are practical, learned abilities or techniques that enable individuals to perform specific tasks or actions.

Development Planning

created for identified successors, outlining specific actions, training, experiences, and mentorship opportunities aimed at preparing employees for future roles.

• Coaching and Mentoring

• Training

• Stretch Assignments

• Job Rotation

• Shadowing

Individual Development Plan Interventions

Coaching and Mentoring

Individualized guidance provided by a mentor or supervisor to enhance specific skills or address developmental needs.

Training

Formal instruction or learning activities designed to develop or improve specific job-related skills, knowledge, or competencies.

Stretch Assignment

Challenging projects or tasks assigned to individuals to expand their skills, knowledge, and abilities beyond their current role or comfort zone

Job Rotation

A structured program that involves moving individuals through different roles or departments within an organization to broaden their experience and perspective.

Shadowing

Observational learning method where individuals closely observe and learn from experienced colleagues or mentors as they perform their job tasks.

Talent Mobility

Opportunities for lateral moves, temporary assignments, and special projects are provided to broaden successors' experiences and perspectives.

Communication

including identifying successors and development plans with relevant stakeholders to ensure alignment and support

• PROMOTION

• PERFORMANCE APPRAISAL

• OICship/Officership/Management Trainee

• EMPLOYEE MOVEMENT - horizontal, lateral, vertical, backfilling

Talent Mobility Activities

Talent Retention

Implement talent management strategies to promote employee engagement, job satisfaction, and retention, including competitive compensation and benefits, career development opportunities, work- life balance initiatives, and a positive work environment.

• Build

• Borrow

• Bind

• Buy

• Bounce

• Boost

• Bot

Talent Retention Strategy

Build

Identifying high-potential individuals within the organization and investing in their development to prepare for future leadership roles.

Borrow

Involves temporarily filling leadership gaps by assigning interim or temporary leaders from within the organization or through external

partnerships

Bind

Emphasizes retaining key talent critical to the organization's success, thereby reducing the risk of talent shortages and turnover.

Buy

Involves recruiting external talent to fill critical leadership roles that cannot be filled internally or require specialized expertise

Bounce

Facilitating smooth transitions for departing leaders and ensuring knowledge transfer to successors.

Boost

Continuously enhancing the capabilities and readiness of potential successors to meet evolving organizational needs.

Bot

Assess the potential impact on employees whose roles may be replaced and develop transition plans that may include upskilling or reassignment

• Clear and Measurable Objectives

• Timeline and Milestones

• Resource Allocation and Budgeting

• Team Responsibilities and Accountability

• Performance Tracking and Adjustments

Action Plan

• Ready Now

• Ready Next (1-2 years)

• Ready Soon (3-4 years)

• Ready Later (5-6 years)

Succession Readiness Chart

Ready Now

Candidate possesses the requisite skills, experience, and competencies to step into leadership roles immediately

Ready Next (1-2 years)

Candidate exhibits potential and readiness to assume leadership responsibilities within a relatively short timeframe.

Ready Soon

Candidate has the potential for leadership roles, but requires significant development and experience to full readiness.

Ready Later (5-6 years)

Candidate is in the early stages of their career development and requires substantial time and investment to reach readiness.