Succession planning

1. Presentation On Succession Planning -Sumit Sharma -(09101187) 1

2. SUCCESSION PLANNING Succession planning is a strategic, systematic and deliberate activity to ensure an organizations future capability to fill vacancies consistent with the merit principle. It specifically focuses on ensuring the availability and sustainability of a supply of capable staff that are ready to assume key or critical organizational roles as they become available. . 2

3. What is Succession Planning ? Succession Planning is the process of training & preparing employees in an organization so that there will always be someone to replace an employee who leaves. OR In other words… The continual business of monitoring and developing internal talent to assure that employees have the knowledge, skills and abilities necessary to succeed in future leadership roles.

4. Meaning “ A defined program that an organization systemized to ensure leadership continuity for all key positions by developing activities that will build personnel talent from within.” PRESENT TALENT = FUTURE TALENT 4

5. Reasons for Succession Planning Identify Highly Talented Individuals Promoting Employee Development Refining Corporate Planning Establishing the Talent Pool 5

7. Driven by the line function and not HR executives.

8. Develop key candidates, in anticipation of future openings.

9. Training & Development.

10. Take into account the culture of the organization.

11. Consistent with the future strategic direction of the company.6

13. No strategic vision

14. Problem in dealing big picture.

15. Promotions & employee aspirations.

16. Lack of transparency 7

17. Other Factors Affecting Economic Forces Organization Size Organization Location Stability Type of Business/Service Additional Workload Requirements Diversification of Workers Technology Fewer Resources Competition Global Market Changing Views 8

18. Succession Planning Vs. Replacement Planning 9

19. “There is no stimulus like that which comes from the consciousness of knowing that others believe in us” Orson Swett Morden 10

21. A- Advise with Information

22. R- Reward the Positive

23. E- Energize the Relationship11

24. “There is no success without a successor.” 12

25. Succession planning process Succession Planning 13

26. Link Strategies & Workforce Planning Identifying the long-term vision & direction. Analyzing future requirements for products & services. Use data already collected. Connecting succession planning to the values of the organization. Connecting succession planning to the needs & interests of senior leaders.

27. Analyze Gaps Identify core competencies & technical competency requirements. Determining current supply & anticipated demand. Determining talents needed for the long term. Developing a business plan based on long-term talent needs , not on position replacement.

28. Identify Talent Pools Using pools of candidates vs. development of positions. Identifying talent with critical competencies from multiple levels- early in careers & often. Assessing competency & skill levels of current workforce, using assessment instrument(s). Using 360 degrees feedback for development purposes. Analyzing external sources of talent.

30. Recruitment & Relocation bonuses.

31. Special programs.

32. Identifying retention strategies :

33. Retention bonuses.

34. Quality of work life programs.

35. Identifying development / learning strategies :

36. Planned job assignments.

37. Formal development.

38. Coaching & mentoring.

39. Assessment & feedback.

41. Compensation

42. Recognition

43. Recruitment & retention

44. Workforce planningImplementing strategies for maintaining senior level commitment.

45. Monitor & Evaluate Tracking selection from talent pools. Listening to leader feedback on success of internal talent & internal hires. Analyzing satisfaction surveys from customers & employees. Assessing response to changing requirements & needs.

46. Some Successors… Rahul Gandhi…Indira Nooyi of PepsiCo.VikramPandit of the Citigroup.Former Vodafone Group CEO-ArunSarin.

47. 21

48. ? 22

49. THANK YOU 23

Succession planning

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