More Related Content Similar to Bridging the Gap in Corporate Succession Planning (20) Bridging the Gap in Corporate Succession Planning3. CHALLENGES
•
The percentage of executives eligible for
retirement is 50% and for non-executives is 40%.
Q U I C K S TAT S
Revenue
$5B with goals to hit $10B by 2016
Employees
•
No formal succession planning process in place to
prepare for anticipated turnover.
9,000 FTEs
Product Profile
60 Products from tractors to
valves
Offices
100 offices internationally
©2013 TalentGuard
11. 1. How does the
organization currently
identify leadership talent?
2. How are employees
currently developed for
future positions?
3. What are we doing right
and what can we improve?
4. What factors could help
or hinder the successful
implementation of a
formal succession plan?
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15. Sarah collaborated with management to bridge
the gap in corporate succession planning
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20. ACHIEVE FULL USE OF
COMPETENCIES
• Need to incorporate behavioral competencies
into all talent management processes.
• Need to develop standardized job
competencies so that employees understand
must-haves for various positions.
• Ensure that training is tied to both behavioral
and job competencies for targeted
development.
• Ensure managers are adequately trained to
coach employees and give feedback.
©2013 TalentGuard
21. LEADERSHIP
COMPETENCY MODEL
Accountability
Adaptability
Communication
Conflict Resolution
Cultural Sensitivity
Decisiveness
Development
Orientation
Ethics
Political Acumen
Risk-taking
Service Orientation
Strategic Agility
Team Orientation
Vision
BEHAVIORAL
ROLE-BASED
Competencies are based on the technical aspects of the job role.
Channel Strategy
Corp. Advertising
Event Management
Market Research
Marketing Comm.
Mkt. Strategy
Product Development
Measurement
Product Management
Media Relations Public Relations
Positioning
Business Acumen Consistency
Connection
Decision-Making
Confidence
Decisiveness
Initiative
Integrity
Listening
Persistence
Personal Drive
Realistic Goal Setting
©2013 TalentGuard
22. JOB ROLE PROFICIENCY LEVELS
(MARKETING SPECIALIST – MUST HAVES)
Proficiency
Levels Per Job
Competency
Channel Strategy
Corporate Strategy
Event Management
Basic
(Level 1)
Intermediate
(Level 2)
Advanced
(Level 3)
Managing internal and external
interfaces (e.g. with other
channel groups and
functional departments,
relationships with channel
partners and manufacturers of
complimentary products).
Design competitive positions
and strategies that capitalize
on corporate strengths;
Ability to review information
about meeting or similar events
including historical data, e.g.,
surveys, evaluations
©2013 TalentGuard
23. JOB ROLE PROFILE – MUST HAVES
Requirements for Role
Role
Position(s)
Business Unit
US Retail
Geographic Location
World Headquarters
Job Grade
C
Pay Scale
50K – 75K
Time to Proficiency
• Minimum education required: Bachelor degree
• 3+ years of experience
Marketing Specialist
18 Months
Where would individuals
come from?
Junior Analyst
Where would individuals move to?
Retail Execution Manager
Analyst, Customer Development
Business Development
Job Description
• Provide analysis of all customer specific reports leveraging our third party broker’s information to ensure consistency and linkage
to Sales objectives in total and by team.
• Work with WHQ Sales Team and Retail Team to develop reports that measure retail execution progress versus joint business
plans.
• Owns regular and consistent communication of retail reports comparing objectives for customer and/or geography behaviors
linking our third party broker’s information to joint business plans.
• Supports training and be knowledgeable of our third party broker’s system ensuring universal usage into objective setting and
measurement of in store results.
Behavioral
• Business Acumen
• Connection
• Confidence
Job-Based
• Channel Strategy (Level 1)
• Corp. Advertising (Level 2)
• Event Management (Level 2)
Qualifications
• Certification in Marketing
• Spanish
Preferences
• Willingness to travel
• Experience in global role
• Willingness to live abroad
©2013 TalentGuard
31. Jill has no
way to
express her
career
interests.
She believes that management doesn’t
understand all of her talents.
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32. DEVELOP A MECHANISM FOR EMPLOYEES
TO DOCUMENT, ASSESS & ANALYZE
THEIR…
• SKILLS
• EXPERIENCES
• QUALIFICATIONS
• PREFERENCES
©2013 TalentGuard
©2013 TalentGuard
39. Jill’s Current Role to Marketing Manager
Match 60%
Functional Work Competencies
Needs Assessment
RATING
GAP
• Ask Questions
Indicator description.
x
• Collects Relevant Information
Indicator description.
x
• Uses Systems
Indicator description.
Market Understanding
RATING
GAP
Prospecting Management
RATING
GAP
Networking Strategies
RATING
GAP
©2013 TalentGuard
40. WITH THIS INFORMATION,
MANAGEMENT CAN:
• See the types of roles that interest
employees
• Gain a better understanding of the
depth of the talent pools
• Understand role readiness, skill gaps
and timeline to fill gaps.
• Search for employees with specific
skills, qualifications and preferences.
©2013 TalentGuard
43. SARAH’S 5 QUESTIONS…
1. Which positions are most critical in
achieving current and future goals?
2. Which positions, if vacant, could
cause harm to the organization?
3. Which positions require specialized
skills and/or knowledge?
4. Which positions have been hard to
recruit for?
5. Do projected labor shortages exist
for skills that you need in the future?
Resource: Succession Planning Readiness Tool
©2013 TalentGuard
44. DEFINED CRITERIA FOR KEY
POSITION SELECTION
Defining
Characteristics
“A” Position
Strategic
“B” Position
Support
“C” Position
Surplus
Scope of authority
• Has strategic
impact
• Exhibits high
performance
• Focuses on
upside potential
• Has indirect
strategic impact
• Minimizes
downside risk
• Creates
foundations
• May be required
for firm to
function
• Little discretion
in work
Primary detriment
Performance
Job Level
Market Price
Effect on value
creation
Enhances Revenue
or Reduces Costs
Supports Value
Creation
Has Minimal
Economic Impact
Consequences of
mistakes
Very Costly
Somewhat Costly
Can Destroy Value
Minimal
Consequence
Consequences of
the wrong person
Significant Expense
Easily Remedied via
Replacement
Easily Remedied via
Replacement
Adapted from The Differentiated Workforce, Pg. 60
©2013 TalentGuard
46. 1.
Customer Value Proposition
Strategic Capabilities
2.
3.
4.
5.
Research &
Development
Product
Design
Customerfacing Sales
Marketing
Leadership
1. A
Chief
Scientist
2. A
VP Products
3. A
VP
Sales
4. A
VP
Marketing
5. A
CEO
3. B
Regional
Managers
4. B
Product
Pricing
Specialists
5. B
Clinical
Managers
Strategic Positions
•
•
•
•
Best product value
Product variety
Professional expertise
Research and Development
•
•
•
•
Wealth impact
Competitive impact
Performance
Saving Lives
1. B
Technical
Director
2. B
Product
Designer
©2013 TalentGuard
48. to build critical career progression paths, enable employees to build career roadmaps and
enable managers to search and identify employees for key roles
Feeder Role
Senior Research Analyst, Technology
Manager, Researcher
Critical Role
Talent Pools
Research Scientist
Next Role
Chief Scientist,VP of Research
and Development
Mr.
(Have we identified employees (Do we have anyone ready to (Are we surfacing adequate
with career interest as
retire in these roles? Have we
numbers of high
Research Scientist?)
identified successors?)
potentials?)
Director of Marketing, Director of
Products, Director of Development
Director of Sales, Director of
Business Development, Director of
Products, Director of Field Sales
VP of Products
Senior VP Products, Business
Unit Manager, Divisional GM
VP Sales
Senior VP Sales,VP Products,VP
Business Development,
Business Unit Manager,
Divisional GM
©2013 TalentGuard
50. HOW “DEEP” DO YOU WANT THE POOL?
Name
Title
Performance
Scores
Carrie H
VP Sales
3.8
John A
Director
Sales
3.8
Mr.
©2013 TalentGuard
52. TALENT GRID FOR SUCCESSION PLANNING
Potential Dimensions
PERFORMANCE
5
Flashes of
Potential
9
Under
Performer
1
Future
Leader
6
3
Transitional High Impact
Contributor
7
Effective
•The Talent Grid is designed according to the competency model, which demonstrates
the specific skills needed to be mastered in each domain.
POTENTIAL
8
Scope
Change
2
Emerging
Leader
4
Specialist
©2013 TalentGuard
53. TALENT DEVELOPMENT USING THE GRID
Performance Dimensions
PERFORMANCE
1
High Potential but
Demonstrates Talent
Ready for
Advancement with
Development
Ready for
Advancements
Immediately
8
6
Potential to Improve
Performance
Potential to Take on
More Responsibility
9
7
Performance
Issues
Highly Valued in
Specific Area
3
High Performer
Transferable Skill
Sets
POTENTIAL
2
5
4
High Performer in
Key Area; Hard to
Replace
©2013 TalentGuard
54. TALENT GRID
Plotting Sales Employees
HIGH PERFORMANCE
Eddie V.
John A.
Carrie H.
5-Flashes of Potential
OR
1-Future Leader
Employee 16
6-Transitional
3-High Impact Contributor
Jamie A.
Troy A.
Frank G.
Tria B.
LOW POTENTIAL
8
HIGH POTENTIAL
2-Emerging Leaders
7-Effective
9
Amy F.
Allison T.
Jamie A.
4
LOW PERFORMANCE
©2013 TalentGuard
58. Allows for feedback, recognition and status updates
•
•
•
•
Stanford Article 1
Internal Curriculum
Strategy Book ISBN
Sales Course 201
Improve my ability to ask better
needs assessment questions with
the Stanford Article 1.
Identify the top 10 questions
during needs analysis with Strategy
Book ISBN.
©2013 TalentGuard
62. • Created all of the Feeder Roles
and Progression Paths
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65. External Coaching
Rationale
Steps for Success
•
Builds coaching culture
•
Create a coaching governance policy
•
Demonstrates support for development
•
Define the coaching methodology
•
Role Model Coaching Behavior
•
Define the coaching requirements
•
Define the coach selection criteria
•
Create coach matching system
•
Determine measure and ROI criteria
©2013 TalentGuard
66. Internal Coaching
Rationale
•
Build internal coaching competency
•
Embedded in the culture
•
Teach manager new skills
•
Steps for Success
More effective discussions
Consistency of process
•
Scalability and cost
•
Visible executive staff endorsement
•
Develop or purchase coaching
curriculum
Promote coaching definition in all
areas of company
•
Visible and intensive training program
—ongoing
•
Determine measures of success and
ROI criteria
Measurement ability
•
Commitment of CEO and Executive
Management
•
•
•
See Webinar: 5 Reasons all Manager Should be Career
Coaches
©2013 TalentGuard
71. How to Successfully Implement Succession Planning
6 Succession Strategies to Develop Managers with a
Global Mindset
How To Do Succession Planning in 7 Steps
Succession by TalentGuard Datasheet
Succession Planning by TalentGuard Product Demo
Succession Planning Consulting Services
©2013 TalentGuard