Creating A Talent Driven Organization

Succession Planning Nancy Rehbine Zentis, Ph.D Creating a Talent Driven Organization

Agenda Purpose Benefits Best Practices Talent Management Model Steps to Develop a Succession Planning Process

Introduction “ Failing to plan is planning to fail” Organizations must have plans in place so that the right people are in the right place at the right time to achieve successful organizational outcomes.

Why Is Succession Planning Important? 27% of high potentials are at risk because of career derailment 1 in every 4 high performers will never reach his or her potential 17% of high performers are disengaged with their jobs and 5% of thinking of quitting Dwindling Pool of Talent Lack of qualified internal candidates Number of Baby Boomers Retiring

Benefits Identify a talent pool for future replacements Keep employees engaged and challenged Recognize your “A” players Identify competencies critical for success Create a talent driven culture that focuses on training and development, rewarding performance, and attracting top talent

Just-in-Time (JIT) Select Hire Advance and Promote Evaluate Results Develop Retain Recruit Transfer Knowledge Manage Performance Train Compen-sate Classify jobs

Strategic Integrated Approach Program Evaluation Workforce & Succession Planning Competency Model Recruitment, Selection, Hiring Training & Development Promotion & Career Mobility Retention Knowledge Management Compensation

Who’s in the Pipeline? Time High Potentials and Replacement Pool for Sr. Managers Middle Managers 1st-line Supervisors Technical Specialists All Employees?

Alignment is key . . . Hiring and Recruitment Compensation & Benefits Learning & Development Performance Management Career Management Talent Management Succession Planning Assessment & Selection

Best Practices Define standards of performance Communicate how to move up and across career ladders Identify criteria for selecting high performers Specify development opportunities - job rotation, special assignments, mentoring, leadership development programs, team projects Train managers to identify and coach high potentials Define the reward and recognition process - promotions, compensation , job progression, internal recruiting and selection

Steps to Developing A Strategy IV. MEASURING THE IMPACT OF SUCCESSION MANAGEMENT III. DEVELOPING CANDIDATES FOR LEADERSHIP ROLES II. IDENTIFYING SUCCESSOR CANDIDATES I. ESTABLISH A SUCCESSION STRATEGY

Keys to Effective Succession Planning Identify Critical Positions to Develop A Pool Define Criteria for High Potentials Identify Candidates Determine Development Needs Create a Development Plan Determine their Readiness Follow Up, Feedback and Coaching Communicate Progress All materials copyrighted

Innovative Methods for Developing Leaders Identifying Leadership Competencies Define leadership by a set of competencies that guides leadership development at all levels Leadership competencies uniquely fit the organization, its particular strategy, and its business model.

Critical Positions Job Profile Analyze the current and future requirements based on needs of the organization and strategic business direction Identify the Competencies (skills, behaviors, traits, and knowledge) needed to be successful Benchmark other Leadership Development Studies to determine leadership success factors

High Potential Qualifications Define qualifications needed to be successful in a upward or lateral position Current Performance Past Performance Potential for Movement Readiness Now or Future

Identify High Potentials Achieves results in a variety of areas Recognized functional, technical, and managerial leader Can be counted on to perform, especially in tough times Demonstrates a high level of proficiency in job competencies Works independently with little or no supervision All materials copyrighted “ Performance” (past) “ Potential Ability *Competencies” (future) Business Acumen Strategic Thinking Leadership People Skills Agility Technology Predictors of Success Rating Scale - 3 - High Performer, 2 - Above Average, 1- Average Performer Rating Scale: 3 - Exemplary Effectiveness, 2- Effectiveness, 1 - Developing Effectiveness

Other “Potential” Indicators All materials copyrighted Current job role (over and above performance) History with the company (other positions held) Job experience prior to the company Education/Certifications Other significant events/accomplishments “ Turnaround” of business unit Leading a taskforce/special project Outstanding achievement Other Predictors of Success (High Potential’s Career Profile matched to Critical Position Job Profile)

Readiness Rating Scale All materials copyrighted 5 - Ready Now – 0 to 1 Year High performer and high potential 4 - Short Term Promotable – 1 to 2 Years Either high performance and moderate potential or average performance and high potential 3 - Long Term Promotable – 2 to 3 Years Either average performance and moderate potential or high performance and moderate potential 2 - Wait and See – 3+ Years Average performance (may be due to being new in the job, having an inappropriate assignment, little or no coaching/development, etc.), but shows signs of potential 1 - Well Placed – Average performance, but few signs of potential

Developing Performance Potential Pipeline 4 High Professional/ Master Contributor 2 Key Performer/ Solid Professional 1 Low Performer 3 Inconsistent Performer 5 Adaptable Key Performer 7 Adaptable High Performer/ High Professional 9 Strategic Star 8 Rising Star 6 Diamond in the rough POTENTIAL PERFORMANCE The “Pipeline” First line of development (9,8,7) Next line of development (5,6, 4) Less learning agility More learning agility Less than effective Highly effective Not Classified

Identifying Talent High Professional/ Master Contributor Consistently produces exceptional results and high performance ratings. Knows current job extremely well. May not effectively adapt to new situations. Low Performer Not delivering on results as expected. Does not adapt to change well and may be a blocked personal learner . Inconsistent Performer Delivers results inconsistently. Knows the job, and may be a passive learner. May adapt to new situations if necessary. Adaptable Key Performer Consistently meets expectations. Knows current job well and enhances skills as appropriate. Can adapt to new situations as necessary. Adaptable High Performer/ High Professional Consistently produces exceptional results and high performance ratings. Knows the job well and continuously enhances skills. Adapts to new situations if necessary. Strategic Star Outstanding, clearest example of superior performance and potential. Has the ability to take on major stretch assignments in new areas. Will challenge the organization to provide growth opportunities fast enough. Rising Star Consistently meets expectations. Knows the job well and enhances skills as appropriate. Has the ability to take on new and different challenges on a consistent basis. Diamond in the Rough Delivers results erratically. Has demonstrated potential but is not living up to it. POTENTIAL PERFORMANCE Less learning agility More learning agility Less than effective Highly effective Key Performer/Solid Professional Consistently meets expectations. Knows current job well. May not effectively adapt to new situations. 0 Not Classified

Developing Talent Inconsistent Performer Boost Performance Under Performer/Hasn’t Reached Potential May Need to Drop/Exit Dilemas, Performance Not Commesurate with Potential Improve or Exit Core Employee Boost Performance Growth Potential Deemed High Potential to Advance Boost Performance to Highest Potential Top Talent, Ready to move into key positions Develop, Recognize, Establish Career Retention Plan, Reward Rising Star - High Performer Stay on Track, Develop Challenge Reward Diamond in the Rough Transitional Performer Potential/Under Performer Improve Performance Short Term POTENTIAL PERFORMANCE Less learning agility More learning agility Less than effective Highly effective Accomplished Potential Develop and Train, Differentiate Rewards Low 1 2 High 1 High Potential Medium Potential Low Potential She had the boxes pop up

Development Activities Activities for High Potential Development 360 Feedback Succession Planning Development Plan Career Development Mentoring Job Related Activities Activities for the Organization Commitment Accountability Results Support Resources Embedded in the Culture Link to Performance Management Communication Internal recruitment and advancement policies Activities for the Manager Support Coach Advocate Feedback Promote Discuss Guide Plan

Development Plan Identify a plan for short and long term development Identify measurable goals and action items Identify development - On the job, training, conferences, books, certification, continuing education, rotational assignments, project teams, temporary assignments, etc. Develop a timeline for monitoring progress

Action Plan Grid Threats Strength Weakness Retention Plan Recommended Action Development Potential Speciality Years In Organiziaotn Promotion Promotion Potential Placement Perf Rating Job Title Employee Name

DeRailment 27% of High Potentials are at Risk of Career Derailment 1 of every 4 will never reach his/her potential DeRailers Sharp remarks Not a team player Aggressiveness Pushy Put Self Before Others Cold Hearted Arrogant Too Ambitious Self Glorification Hurrying to move ahead Sense of entitlement

Provide Feedback Meet regularly to discuss progress and give feedback Provide coaching and mentoring to help the high potential achieve his/her goals Discuss his/her progress with your manager and HR Monitor outcomes of performance and potential

Measure Outcomes Tie Succession Planning to Organizational Results Metrics: Employee Satisfaction Turnover/Retention/Potential for Leaving % of HIPO’s Replacements Improved Performance Improved Development Improved Readiness Talent Inventory - Pool available for future movement

Communication Process Should you tell them or not! 50% (no) 50% (yes) Why? Entitled Bad Feelings Competition Why? Retention Engagement Morale

Outcomes Effective Succession Planning Process Drives Business Results by Ensuring the Best People Get Promoted Ensure the Right People Are Developed For Future Needs Increase Leadership/employee Satisfaction Retain Key Talent By Providing a Process Toward Promotion Define a Career Development Process for Each Position Develop Functional Pools of Internal Talent Improve Productivity and Profitability Increase Employee Engagement, Collaboration, and Job Satisfaction All materials copyrighted

Summary and Close What questions do you have? What recommendations do you have? What are your next steps?

References Byham, W.C., Smith, A.B., & Paese, M.J. (2002). Grow your own leaders: How to identify, develop and retain leadership talent. New York: Prentice-Hall. Charan, R. (2008) Leaders at all levels: Deepening your talent pool to solve the succession crisis. San Francisco: Jossey-Bass. McCall, M.W. (1998). High flyers: Developing the next generation of leaders. Boston: Harvard Business School Press.

For More Information: Contact: Nancy Zenits, Ph.D [email_address] 954-341-2522 Check out our website for more information www.hrtalentpro.com

Creating A Talent Driven Organization

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Creating A Talent Driven Organization