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Transcript of Succession Planning
Definition of Sucession Planning
Succession planning recognizes that some jobs are critical to the organization and must be filled by the most qualified persons. Succession Planning is a systematic approach to:
Succession planning is critical to a successful Talent Acquisition Strategy
The Succession Plan Initiatives
Lesson 9 - Homework
Building a Leadership and talent pool to ensure leadership continuity.
Identify top talent for the different positions within a company.
Dedicated resources to talent development for a greater return on investment.
Step 2: Analyze Gaps
Determine current supply and anticipated demand
Identify talents needed for the long-term
Develop plan based on long-term needs not position replacement
Identify core competencies and technical competencies
Step 3: Identify Talent Pools
Senior Leaders are personally involved.
Senior Leaders take responsibility for growing talent.
Senior Leaders and Human Resources forge a partnership.
Employees are committed to their own self-development.
Based on document created by www.opm.gov
Senior Leaderships Role
Leadership competencies are identified and used for selection process.
A pool of talent is identified within the company.
Recruiting challenges are addressed.
Employees are developed early for long-term success.
Use of Data
The process relies on workforce data and analysis for success.
Succession Planning Software
Step 1: Link Strategic and Workforce Planning Decisions
Identify the long-term vision and direction
Analyze future requirements for products and services
Using data already collected
Link succession planning to company values
Connect succession planning to needs of senior leadership
Capitalizing on talent pools vs. development of positions
Identify talent with critical competencies from multiple levels - early in careers
Assess competencies and skill levels of current workforce
360 feedback as development tool
Analyze external sources of talent
Step 4: Develop Succession Strategies
Identify recruitment strategies
Identify retention strategies
Identify development/learning strategies
Step 5: Implement Succession Strategies
Implement recruiting and retention strategies
Implement developing/training strategies
Determine and apply measures of success
Step 6: Monitor and Evaluate
Tracking selection from talent pools
Listening to leader feedback on success of internal talent and internal hires
Analyzing satisfaction surveys
Assess response to changing requirements and needs
Examine the need for succession planning in companies and identify various problems a company might face due to a lack of succession planning system as it relates specifically to recruitment and retention.
Why do you think the involvement of top leadership in succession planning process is important?
Use a word document and upload into Moodle.