Succession Planning Objectives, Principles, and DefinitionsDownload
- An agreed-upon succession plan for potential successors
- Identified successors for each key position
- Leadership development is a formalized aspect of every leader’s accountabilities (i.e., not just identified successors)
- Successor development is viewed as the responsibility of the entire executive team, rather than one executive responsible for a specific functional area
- 100% executive positions have high performance key talent
- 100% identified successors are high potential talent (e.g., jumpers, growth, mastery)
- 100% retention of identified successors
- 50% of the identified successors are “ready-now” candidates and the other 50% are developing
- Identified candidates become “ready-now” within 1-3 years
- 100% of the identified successors have approved (30, 60, 90 and 180 day) individual development plans in place for immediate action
- Focus on strengths.
- Play big.
- Think out of the box.
- Identify experience, skills, and behaviours (e.g., persuasiveness, assertiveness, attention to detail, tolerance for repetition) for success.
- Break down silos.
- Offer no guarantees.
- Clarify who has the D.
- Develop action plans and commit.
- Hold people accountable for execution.
- Communicate with clarity and honour anonymity and confidentiality.
1. Standards for evaluating risk to lose status (retirement, promotion, external):
- High- (I plan to resign/retire next year)
- Medium – (Will there be any new opportunities for me soon?)
- Low–(I love my job and I plan to stay here)
2. Standards for evaluating promotion readiness status:
- Participant is ready now for promotion
- Participant can be ready to advance in 1 year
- Participant can handle responsibilities at present level or one level above D – Participant should be held over or cut
3. Standards for evaluating performance:
(Source: Winning by Welch and Welch):
- Stars: Top 20 Percent – keep these people
- Sliders: Once a good performer but no longer – needs to be reenergized
- Disrupters: A good performer but causes trouble
(Sources: The Leadership Pipeline: Drotter Human Resources Inc.)
- Consistently exceeds operating, technical and professional output requirements
- Consistently exceeds requirements for managerial tasks
- Demonstrates excellent leadership ability, including establishing and communicating strategic direction and enabling staff to perform at the highest standards
- Achieves results in a way that always builds and maintains constructive working relationships with many constituencies including subordinates
- Consistently active in the community and enhances the reputation of the company.
- Is usually given the toughest assignments; their manager would fight to keep this person Effective Performance
- Consistently meets or exceeds operating, technical and professional output requirements
- Consistently meets or exceeds requirements for managerial tasks
- Demonstrates effectiveness in leadership
- Achieves results in a way that usually builds and maintains constructive working relationships
- Is occasionally active in the community and reflects favourably on the reputation of the company.
- Is occasionally assigned extra work
- Is considered a good performer, but equivalent talent could be found, if needed Not Yet Full Performance
- Is below standard execution of most operating, technical and professional output requirements and managerial tasks
- Occasionally demonstrates necessary leadership ability
- Achieves results in a way that does not always build and maintain constructive working relationships
- Has infrequent community involvement
- Requires a lot of their manager’s time in management.
- Would not elicit their manager’s concern if this person left the organization
4. Standards for evaluating potential:
(Source: The Leadership Pipeline: Drotter Human Resources Inc.)
Within the Leadership Pipeline model, there are three categories of potential:
- Turn potential: able to do the work at the next level in three to five years or sooner.
- Growth potential: able to do work at bigger jobs at the same level in the near term.
- Mastery potential: able to do the same kind of work currently being done, only even better. Turn Potential
- Exhibits operating, technical and professional skills that are extremely broad and deep.
- Exhibits managerial skills that are expected at the next highest organizational level.
- Demonstrates leadership skills that are expected at the next highest organizational level.
- Regularly works at building news skills and abilities.
- Aspires to higher level challenges and opportunities.
- Demonstrates “fire in the belly”.
- Has a business perspective beyond current organizational level.
- Is oriented toward total business results, not just focused on the success of own area. Growth Potential
- Exhibits operating, technical and professional skills that are high for current organizational level.
- Exhibits managerial skills that are high for current organizational level.
- Frequently demonstrates leadership skills that are high for current organizational level.
- Adds news skills and abilities when the job calls for it.
- Aspires to greater challenges and opportunities primarily at the same organizational level.
- Is motivated to do more than expected.
- Has a business perspective beyond current position.
- Is focused on the success of own area and the team.
5. Mastery Potential:
- On balance, exhibits operating, technical and professional, managerial and leadership skills that are acceptable for current organizational level.
- Demonstrates little effort to build news skills but keeps current skills sharp.
- Aspires to stay with the company, as opposed to assuming bigger challenges or higher ￼￼personal contributions.
- Is motivated to do what is needed in current job.
- Understands the job.
- Is focused primarily on technical success.