TM - June 2008 - (Page 46) recruitment & retention assessment & evaluation compensation & benefits performance management learning & development succession planning good succession plan should identify multiple people for any one position, and multiple positions for any one person. If a company is separated by specific business units or geographic areas, they tend to miss potential pools of talent outside of immediate work groups. For example, many companies look to each individual leader to identify successors within each business unit. Although there may be likely candidates in this pool, the Pushing the Right Development Experiences for Succession When successors have been identified, the development process begins. Successors can be given general development opportunities and specific exposure to the roles they most likely will be asked to fill. Providing experiences does not need to be an activity separate from real work. In fact, development activities or experiences should be integrated with the host organization’s business needs in the same way a company’s strategic plan should align with its succession planning process. Consider a high-level executive who is being groomed for the CEO position at XYZ Corp. This individual may have exceptional skills but might need more exposure to the overall business. This exposure might mean a stint as the CFO. In this particular company, the CFO position certainly has a high level of responsibility, but placing the high-level executive there offers lower business risk due to the overall strength of the finance function and the existing financial systems in place across the company’s business units. By providing this experience, the high-level executive is able to do useful work while getting the necessary exposure and experience needed to further his readiness for the CEO position. Address Business Risks and Talent Constraints Finally, a good succession plan should address talent-related business risks. For key strategic initiatives or critical parts of the business, talent managers can’t afford to lose a person in a pivotal role. The succession process should ensure there are viable successors being groomed, and where none are available, it should provide ways to bring in talent from outside. When designing a program, it’s important to understand work silos that may exist and block the organization’s comprehensive succession plans. approach doesn’t offer much breadth on an enterprise level. A director in one unit may have several traits and characteristics that, with some minimal additional experiences or skills training, could be a perfect fit for another business unit. Looking across business units allows talent managers to expand their potential talent pool and take advantage of leaders from different business units who can bring a broader range of business knowledge to a new position. The goal of a succession program is to create the largest qualified pool of candidates possible for each position. When planning for the unknown, talent managers certainly do not want to put all of their employees/eggs in one basket. Executing comprehensive succession planning proactively, before there is a crisis, will minimize the likelihood of business disruption. Similarly, a good succession process will identify where an organization’s business plan may be at risk and highlight alternative approaches to achieve an organization’s strategic goals. Succession planning is not just for CEOs anymore. A solid succession plan should reflect business challenges, identify as many successors as possible and take the steps needed to ensure qualified candidates are ready to fill key positions and maintain business continuity. Cindy Marsh, Ph.D., L.P is president and COO ., for Personnel Decisions International. She can be reached at editor@talentmgt.com. 46 June 2008 talent management magazine www.talentmgt.com http://www.talentmgt.com
Table of Contents Feed for the Digital Edition of TM - June 2008 TM - June 2008 Editor’s Letter Contents Human Performance Leading Edge Foundations The New Components of Compliance Candid Culture: Embracing Employee Complaints Transitioning to a New Era: C&B at Nonprofits Three Ways to Build Successful Manager-Employee Relationships Implementing Successful Learning Programs The Succession Fix Fifth Third Bank: Putting People First Zaxby’s: Making Employees’ Jobs as Palatable as Its Menu Workforce Readiness: Preparing Personnel to Meet Business Goals Kelley Blue Book: Writing the Book on Performance Management Advertisers’ Index Editorial Resources Full Potential TM - June 2008 TM - June 2008 - (Page Intro) TM - June 2008 - TM - June 2008 (Page Cover1) TM - June 2008 - TM - June 2008 (Page Cover2) TM - June 2008 - TM - June 2008 (Page 3) TM - June 2008 - Editor’s Letter (Page 4) TM - June 2008 - Editor’s Letter (Page 5) TM - June 2008 - Editor’s Letter (Page 6) TM - June 2008 - Editor’s Letter (Page 7) TM - June 2008 - Editor’s Letter (Page 8) TM - June 2008 - Contents (Page 9) TM - June 2008 - Contents (Page 10) TM - June 2008 - Contents (Page 11) TM - June 2008 - Human Performance (Page 12) TM - June 2008 - Human Performance (Page 13) TM - June 2008 - Leading Edge (Page 14) TM - June 2008 - Leading Edge (Page 15) TM - June 2008 - Foundations (Page 16) TM - June 2008 - Foundations (Page 17) TM - June 2008 - The New Components of Compliance (Page 18) TM - June 2008 - The New Components of Compliance (Page 19) TM - June 2008 - The New Components of Compliance (Page 20) TM - June 2008 - The New Components of Compliance (Page 21) TM - June 2008 - The New Components of Compliance (Page 22) TM - June 2008 - The New Components of Compliance (Page 23) TM - June 2008 - Candid Culture: Embracing Employee Complaints (Page 24) TM - June 2008 - Candid Culture: Embracing Employee Complaints (Page 25) TM - June 2008 - Candid Culture: Embracing Employee Complaints (Page 26) TM - June 2008 - Candid Culture: Embracing Employee Complaints (Page 27) TM - June 2008 - Candid Culture: Embracing Employee Complaints (Page 28) TM - June 2008 - Candid Culture: Embracing Employee Complaints (Page 29) TM - June 2008 - Transitioning to a New Era: C&B at Nonprofits (Page 30) TM - June 2008 - Transitioning to a New Era: C&B at Nonprofits (Page 31) TM - June 2008 - Transitioning to a New Era: C&B at Nonprofits (Page 32) TM - June 2008 - Transitioning to a New Era: C&B at Nonprofits (Page 33) TM - June 2008 - Transitioning to a New Era: C&B at Nonprofits (Page 34) TM - June 2008 - Transitioning to a New Era: C&B at Nonprofits (Page 35) TM - June 2008 - Three Ways to Build Successful Manager-Employee Relationships (Page 36) TM - June 2008 - Three Ways to Build Successful Manager-Employee Relationships (Page 37) TM - June 2008 - Three Ways to Build Successful Manager-Employee Relationships (Page 38) TM - June 2008 - Three Ways to Build Successful Manager-Employee Relationships (Page 39) TM - June 2008 - Implementing Successful Learning Programs (Page 40) TM - June 2008 - Implementing Successful Learning Programs (Page 41) TM - June 2008 - The Succession Fix (Page 42) TM - June 2008 - The Succession Fix (Page 43) TM - June 2008 - The Succession Fix (Page 44) TM - June 2008 - The Succession Fix (Page 45) TM - June 2008 - The Succession Fix (Page 46) TM - June 2008 - The Succession Fix (Page 47) TM - June 2008 - The Succession Fix (Page 48) TM - June 2008 - The Succession Fix (Page 49) TM - June 2008 - Fifth Third Bank: Putting People First (Page 50) TM - June 2008 - Fifth Third Bank: Putting People First (Page 51) TM - June 2008 - Zaxby’s: Making Employees’ Jobs as Palatable as Its Menu (Page 52) TM - June 2008 - Zaxby’s: Making Employees’ Jobs as Palatable as Its Menu (Page 53) TM - June 2008 - Zaxby’s: Making Employees’ Jobs as Palatable as Its Menu (Page 54) TM - June 2008 - Zaxby’s: Making Employees’ Jobs as Palatable as Its Menu (Page 55) TM - June 2008 - Workforce Readiness: Preparing Personnel to Meet Business Goals (Page 56) TM - June 2008 - Workforce Readiness: Preparing Personnel to Meet Business Goals (Page 57) TM - June 2008 - Workforce Readiness: Preparing Personnel to Meet Business Goals (Page 58) TM - June 2008 - Workforce Readiness: Preparing Personnel to Meet Business Goals (Page 59) TM - June 2008 - Kelley Blue Book: Writing the Book on Performance Management (Page 60) TM - June 2008 - Kelley Blue Book: Writing the Book on Performance Management (Page 61) TM - June 2008 - Kelley Blue Book: Writing the Book on Performance Management (Page 62) TM - June 2008 - Kelley Blue Book: Writing the Book on Performance Management (Page 63) TM - June 2008 - Kelley Blue Book: Writing the Book on Performance Management (Page 64) TM - June 2008 - Editorial Resources (Page 65) TM - June 2008 - Full Potential (Page 66) TM - June 2008 - Full Potential (Page Cover3) TM - June 2008 - Full Potential (Page Cover4)
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