Succession Planning and the Development of Your High Potentials

Presenting Today

Jeremy LiebDirector of Recruiting

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Follow along on Twitter: #BizWebinar @BizLibrary

Erin BoettgeContent Marketing Manager,

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BizLibrary helps organizations succeed by improving the way employees learn.

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? What is your most pressing concern about your next generation of leaders?

When well managed, succession planning is a cost-effective, motivational process that helps organizations ensure they have the right leaders in the right place at the right time.

A practical model you can use for selecting participants for a succession planning or HIPO development program.

How to determine key competencies and development plans for your high potential employees.

What we hope you’ll take-away

What Keeps HR Leaders Up at Night?

It’s not just succession to the top – it’s getting the right person in place for every job. Some of tomorrow’s key jobs may not even exist now.

SOURCE: Robert M. Fulmer, Growing Your Company’s Leaders

Critical Trends

• Broad market forces and trends

• Emerging competencies

• Future job needs – likely unknown today

• Reduced employee loyalty

Succession Planning and The Bottom Line

Aligned with organization’s strategic objectives.

Analysis of current and future capabilities.

Focused on potential and values.

Perceived as relevant and real by participants.

Drives a culture of continuous learning and development

O

ST

STRENGTHSWill our strengths prepare us for future

success?

WEAKNESSESWhat steps must we take to improve or

minimize risk?

OPPORTUNITIESWhat are our greatest opportunities for

growth?

THREATSWhere are we vulnerable?

W

Continuous adjustments based on

organizational goals

Requires executive involvement and

support

Alignment

• What are our greatest opportunities for growth?

• Are our strengths aligned to take advantage of them?

• Do our weaknesses stand in the way?

• Where are we vulnerable?

• Are our biggest threats external or internal?

• Market-driven or competition?

• Lack of talent or not the right talent?

OPPORTUNITIES THREATS

Deciding Whom to Groom…

Self selection, assessments, observation

Evaluating readiness

Capabilities

LOW SELF AND HIGH OTHERS

• Under utilized skills• Motivation to excel may be issue

- career goals may not be aligned with area

HIGH SELF AND HIGH OTHERS

• Areas of true strength• Focus for development• Opportunity for major gains in

productivity and career growth

HIGH SELF AND LOW OTHERS

• Blind Spots• Substantial need for coaching• Opportunities for significant

career conflict and disaster

LOW SELF AND LOW OTHERS

• Areas to avoid and move away from to the extent possible

• Coach techniques to minimize potential career harm

Performance Ratings on Self and Others5

4

3

1

2

High

Low

OTHERS

541 2 3

HighSELFLow

Potential

Understanding of current and future trends for

organization.

Curiosity, insight, engagement, determination

Low Performance andHigh Potential

High Performance and

High Potential

High Performance and

Low Potential

Low Performance and Low Potential

Performance to Potential5

4

3

1

2

High

Low

POTENTIAL

541 2 3

HighPERFORMANCELow

Relevancy

Communicate the why, how and when.

Clearly define standards, requirements and

competencies

Managers need to stretch, challenge, and coach their high-potential employees…

Without multi-dimensional dialogue about these issues, managers tend to hold on to their high-potential people instead of helping them along an intentional developmental pathway.

High-potentials then may interpret this as a lack of company support and will be inclined to look elsewhere.

SOURCE: Ron Ashkenas, The Paradox of High Potentials , Harvard Business Review

Learning How to Learn• Developing relationships

• Formal training

• Receiving feedback

• Self-awareness

• On-the-job experiences

Developing Leaders at All LevelsSupervisory And Team LeadHigh Potential Employees

ManagingNew Managers and Newly Promoted

Advanced LeadershipMid and Senior Level Managers

Executive DevelopmentSenior Directors and Vice Presidents

EXPLORATION

CONSIDERATION

TRANSITION

ADOPTION

Succession Planning Phases

Succession Planning for New Managers

CONSIDERATION EXPLORATION TRANSITION ADOPTION

• Seminars• Informational

interviews• Job shadowing• Focus groups

Selection

• Formal and informal training

• Acting manager• Job rotation• Project manager

• Formal and informal training

• Mentoring• Networking

• Formal and informal training

• Mentoring• Feedback• Peer evaluation

Roles and Responsibilities

Processes and Procedures

Professional Identity Information

PRE-PROMOTION POST-PROMOTION

SOURCE: A Succession Plan for First Time Managers, Maria Plakhotnik and Tonette S. Rocco, T&D Magazine, December 2011

What are my development objectives?

What activities do I need to undertake to achieve my objectives?

What support/resources do I need to achieve my objectives

What are the measures of success?

Target date for achieving my objectives

Create an Individual Development Plan

Key Take-Aways

When well managed, succession planning is a cost-effective, motivational process that helps organizations ensure they have the right leaders in the right place at the right time.

A practical model you can use for selecting participants for a succession planning or HIPO development program.

A method for determining key competencies and development plans for your high potential employees.

Getting Started with Succession Planning

4 Part Video Series

• Succession Planning: People Back-Up

• Succession Planning: 8 Critical Steps

• Succession Planning: The Transition Process

• Succession Planning: The Private Business

Create a Mentoring Program

5 Part Video Series

• What is Mentoring• Why a Mentoring Program• Creating a Mentoring Program• Mentoring Meeting Guidelines• Making a Mentoring Agreement

Try out these video lessons and more!

Let us know through the poll if you’d like a free trial of BizLibrary’s online course collection.

www.bizlibrary.com/free-trial

Join us for future webinars!

www.bizlibrary.com/resourcesFor Upcoming and On-Demand Webinars

Steps to Success: Improving the Overall Effectiveness of Your

Employee Engagement ProgramLive Event: Wednesday, September 7th

1:00PM Central/2:00PM Eastern

Push or Pull: Making Training Work for Your Organization

Live Event: Thursday, August 18th1:00PM Central/2:00PM Eastern

The Power of Stay Interviews for Employee Engagement and

RetentionLive Event: Wednesday, September 13th

1:00PM Central/2:00PM Eastern

Stay in Touch

Thanks for attending, feel free to reach out and connect!

Erin BoettgeContent Marketing Manager

[email protected]

Jeremy LiebDirector of Recruiting

[email protected]