Overview:
Definition of Succession Planning
- Objectives and Benefits of Succession Planning
- Tools Commonly Utilized for Developing and Implementing
- Provide a proven multi-step successful model for adoption or adaptation
- What an organization needs to do to achieve success & common obstacles to be aware of
- Potential Measures of the Program's Success
Why you should Attend:
Attendees will have a greater understanding of Succession Planning in order to:
- Sustain the business through a deliberate and systematic effort to anticipate and ensure leadership continuity in key positions
- Retain and develop the organization's high potential [HiPos]
- Encourage individual development via multiple methods
- Proactively determining:
- The talent needed in the future
- The talent it has now
- Where there are talent gaps
- The initiatives necessary to close those gaps
- Anticipate & hopefully avoid the common obstacles to success
You will be equipped to initiate Succession Planning or enhance your existing process by having a proven model and related processes and tools.
Areas Covered in the Session:
- Definition of Succession Planning
- A deliberate, systematic process of anticipating the need for talent and ensuring that the necessary employee competencies and experience are available when needed
- A strategic approach for avoiding an undersupply of talent, enhancing the organization's current talent pool, and meeting the organization's future needs
- A specific plan identifying, at a minimum, the senior executive positions along with their:
- A job description
- Those individuals in leadership positions who are potential successors with defined time periods
- A gap analysis of the experience, skills, attributes and relationships (internal and external) needed for success in comparison to those existing with potential successors
- Objectives and Benefits of Succession Planning
- Position the organization for success now, provide sustainability for tomorrow and prepare for continuity into the future
- Sustain the business through a systematic effort to ensure leadership continuity in key positions
- Attract, retain & develop high potential individuals (aka, HiPos, Rockets, Potential/Future Executives, Rising Stars, etc.)
- Encourage HiPos development by:
- Identifying career paths
- Conducting performance appraisals
- Providing regular coaching and/or mentoring
- Creating Individualized Development Plans [IDPs]
- Holding Talent Review meetings
- Tools Commonly Utilized for Developing and Implementing
- Self-appraisals and career goals
- Performance appraisals, 360º & other assessment tools
- Individual development plans [IDPs]
- Talent review meetings
- Provide a proven multi-step successful model for adoption or adaptation
- Including the importance of clear identification of roles
- What an organization needs to do to achieve success & common obstacles to be aware of
- Potential measures of success
Who Will Benefit:
- Business Owners (including private & family-owned ones)
- Adult Family Members of family-owned businesses
- Company CEOs/Presidents
- Other Executives (especially CFOs & CHROs)
- Accounting & Finance Professionals
- HR Professionals