4. Workforce Planning DEPTH CHART As of October 25, 2007 Senior Team First Team Back - Up Back - Up Why settle for good, when you have the opportunity to be great! Chief Executive Officer President Chief Financial Officer Chief Operations Officer Chief Human Resource Officer Chief Information Officer Chief R & D Officer Vice President of . . . Vice President of . . . Manager of . . . Manager of . . . Supervisor of . . .
5. Do you know where you will find your future leaders? Source: Beazley, et. al, Continuity Management, Mackay, Alan. “Mature Age Workers: Sustaining Our Future Labor Force.” An Ageless Workforce - Opportunities for Business' Symposium Conference Paper. August 27, 2003. www.ageing.health.gov.au/ofoa/wllplan/aawpapers.htm ,
18. Succession Planning Report Position Job Match Percent Sales Manager 91% Business Development 90% Sales, Team leader 87% Senior Account Manager 85% Account Manager 81% Branch Sales Manager 75% Vice President, Sales 68% Division Sales Manager 63%
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20. Timothy Butler & James Waldroop “ Job Sculpting” Harvard Business Review September-October 1999 “ In these days of Talent Wars, the best way to keep your stars is to know them better than they know themselves -and then use that information to customize the career of their dreams”
Why – #1 -Execellence of Execution as their top concern – this drives profits and revenues – Great plan wrong people to implement Which positions require planning? Where – Internal candidate pool – “To adequately prepare for succession, you should evaluate the skill and attitudes of everyone in the organization who is a candidate for a leadership position.” Goals – financial strategic - Interns can they be your next Supervisor, Manager, CEO. Look beyond just current position you’re looking to fill.
You should always be looking for the next person You have people in these positions – How long they have been with the company? How long they have been in their current position? Who is their replacement?
Because the leadership dynamics of corporate America are changing so rapidly we must all ask ourselves “Do we have a strategic plan (best practices) for identifying, developing and retaining our future leaders?” For example … (next slide)
This trend relates to the entire labor/talent pool. The supply and demand lines have already crossed … (next slide)
Fortune 1000’s – Look 7 people deep in your organization. If this person retires or leaves for any reason, who will be taking that position? Then who? Then who? Who’s now coaching?
Take an objective look at your company’s internal talent pool. Develop internal people. Eastman Chemical is looking for long term candidates. Within 5 years – 70% of leaderships will be eligible for retirement. They started back filling their leadership pipeline. Younger generations is not thinking long term. Incentive for career path. Their value to the organization. “ We’re looking to develop You”
Using the same tools you already have.
We’re already assessed candidates that were hired and those top performers that were used to build patterns. So now it’s a matter of assessing the others.
Most successful leaders have had diverse experiences and opportunities to make mistakes Looking at time lines – When do I anticipate someone retiring? What’s the career path? Developing & Coaching
There are two ways to do this … Observation which can be time consuming, expensive and highly subjective or assessments which are quick, inexpensive and highly objective.
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