This document discusses succession planning practices and provides recommendations for improvement. It begins by outlining goals and discussing the urgency of succession planning given trends like an aging workforce. It then compares past, present, and recommended next practices for various aspects of succession planning such as linking it more closely to business strategy, increasing leadership accountability, focusing on multiple levels of the organization, assessing potential more rigorously, providing targeted development, and integrating it within talent management. Recommendations emphasize collaboration, transparency, metrics, and strengthening the connections between succession planning and other talent processes.
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Succession Planning: Developing Leaders for the Future
1. Succession Planning:
There is No Me Without
You.
Lepora Menefee, PhD, SHRM- SCP, Prosci, PMP, SSBB
HR & Strategy Innovation Summit
January 22-24, 2017
2. GOALS FOR TODAY’S JOURNEY
The
Burning
Platform
Past
Practices
Present
Practices
Next
Practices
2
5. Why the Urgency?
10,000
Baby Boomers
Turn 65
everyday
GLOBAL SKILL SHORTAGE
36% of U.S.
Companies
34% of
Companies
in EMEA
29% of
Companies
in Asia
Pacific
CEO Average
Tenure has
decreased from
10 to 8 years
since 2000
75 million Baby
Boomers will be eligible
to retire this year. Only
45 million workers will
be available to enter
the workforce
5
6. 96
96
100
96
84
73
76
78
75
41
0 20 40 60 80 100
Identification of a leader's current
performance v. future potential
Assessment of Potential for advancement
Assessment of Leadership skill gaps
Development of Successors for specific
positions
Workforce Plan (3-5 years)
Global Top Companies are Serious About Succession Planning
All Others Global Top CompaniesAon 2013 6
7. Are You Experiencing Pain in Your
Succession Planning Process?
Dissatisfaction with the status quo
Too much bought vs. built
Confusion about Potential vs. Performance
Not Enough Ready Now Talent
1
2
3
4
7
9. Present Practices Next Practices
Select, develop, assess,
reward and retain
leaders who have
competencies to deliver
the short & long- term
Business Strategy
Make Succession
Planning a key business
strategic priority
Past Practices
Limited to who
”thought” like the CEO.
Skill replacement for the
CEO.
Alignment with Business Strategy is key.
Replacement of current
competencies of CEO &
SLT
Select leaders who
have competencies to
deliver the short- term
Business Strategy
9
10. Practices are more linked to Business Strategy among Global High
Performing Companies…
68
84
80
76
72
36
42
42
42
41
0 20 40 60 80 100
Retaining Leaders
Rewarding Leaders
Developing Leaders
Assessing Leaders
Selecting Leaders from within your organization
All Others Global Top Performing CompaniesAon 2013
10
11. Present Practices
Leaders are
encouraged to build
healthy succession
pipelines for their top
pleaders
HR owns the Succession
Planning Process
Next Practices
Leaders are held
accountable for healthy
succession pipelines
MBOs on Performance
Reviews and recognition
and rewards are linked
to leadership and
succession planning
HR defines the
Succession Planning
process in collaboration
with Leaders who own
it.
Past Practices
CEO/ Board was
accountable for
choosing CEO
replacement
Leadership Accountability: Who is the Last Throat to Choke?
11
12. Present Practices
Once a year,
companies refresh their
leadership slate with
HiPos for VPs and up.
Next Practices
Potential is continuously
assessed.
Leaders provide
feedback to employees
regularly.
Development is
regularly tracked.
Talent Review
discussions take place
on quarterly basis or
more.
Past Practices
Once a year, the slate
for the CEO was
refreshed.
What is the Timing of your Succession Planning?
12
13. Present Practices
Most major companies
will focus on senior
leadership roles (eg.,
VP) up to CEO/ Layer 1
Next Practices
Succession Pipelines will
need to be applied to
all of the generations of
the organization
Segmentation is
important beyond
hierarchical layer, but
apply to critical of roles.
Precedence should be
placed on the most
pivotal/ critical roles
Past Practices
There was a slate for the
CEO/ Layer 1 only..
At what Position Layers do you Focus?
13
15. Present Practices
Ability
Aspiration
Engagement
Experience
Competencies
Next Practices
Agility
Aspiration/ Drive
Influencing Change
Values
Calibration/
Collaboration
Assessments &
Simulations
Past Practices
You’re smart and we
like you.
How do you Assess Potential?
15
16. Present Practices
Leadership
Competencies
General Leadership
Competencies Training
Exposures to Senior
Leaders
Stretch Assignments
Next Practices
Targeted Role
Development/ Feeder
Roles
Strategic Cross- Training
Expedite Development/
Bootcamps
Simulation
Mentoring & Sponsoring
360; Crowd Sharing
Past Practices
No direct alignment to
specific roles
General Leadership
Training provided
General Organization
Cross- Training
Development is an essential key for effective Succession Planning
16
17. Have you ever been Sponsored?
What did it do for your Career?
17
18. Present Practices
On the radar of most
large organizations
A stated desire for most
major organizations
Next Practices
Mentorships
Sponsorships
Targeted development
programs
What gets measured,
gets done
Require diverse slates
Objective assessments
Past Practices
Is Diversity a Targeted element of Your Succession Planning?
Good ol’ boy network
Skills + Relationship
18
19. Present Practices
Some transparency of
good news only to
direct recipients
Next Practices
Clear Career Paths
Transparent Potential
Feedback regarding
good and bad
Development needed
for next step
Frequent feedback
Past Practices
Zero Transparency
How Transparent is your Succession Planning process?
19
20. Top Companies are more likely to communicate to an individual when he or
she is no longer considered high potential (71% versus 33%).
Aon, 2013
Transparency is Ultimately Healthy for Your Organization
TRUSTCLARITY
FOCUS BRAND
20
21. Present Practices
Hi- Potential Employees
are informed of their Hi-
Potential status
Hi- Potentials are
assigned to
developmental tasks
Next Practices
Collaborate with
employees through
regular conversations
Collaborate regarding
Engagement
Collaborate regarding
developmental paths
Collaborate regarding
assignments
Past Practices
No conversation with
employees regarding
potential
Are You Collaborating with Your Employees?
21
22. Present Practices
What has already been
done on the leadership
level, eg.,
% of Internal Hires for
the year
% of Diversity
Leaders
Next Practices
Also, forecast what we
are likely to accomplish
# of Unique
candidates per
succession position
% of Diverse
Candidates per
Successor Role
Retention Risk of
HiPos
Past Practices
Are you best utilizing Metrics in your Succession Planning?
No measurement
22
23. Present Practices
Some targeted
development toward
Succession Planning
Some Performance
Management ratings
are incorporated into
Succession Planning
decisions
Next Practices
Integration with:
Talent Acquisition
Onboarding &
Engagement
Development
Retention
Performance
Management
Past Practices
No Integration
Is Your Succession Planning integrated into the rest of your
Talent Management?
23
24. Is Your Succession Planning Process
seamlessly integrated into Talent Management?
Succession
Planning
Retention
Do we know why our
best people leave or
stay?
Talent
Acquisition
Are we hiring and
building external
pools that align with
future needs?
Workforce
Planning
Are we identifying
successors who align
with future business
requirements, values
& vision?
Performance
Management
Are our managers
held accountable for
developing our
leaders?
Development
Are we developing
our employees to be
successors?
Onboarding &
Engagement
Are we facilitating
relationship- building
on the onset of our
employee tenures?
24
25. Strong Leaders
Re- Hire Cost Savings
Business Growth
ROI/
Increased Profits
Happy Employees
= Retention
Business
Continuity
=Increased
Productivity
Rigorous Succession Planning is worth it.
25