Succession Planning: Developing Talent from Within

Research shows that most companies have little or no deliberate succession planning in place—and aren’t fully aware of how much the lack of it can cost their organization, especially in an unstable economy. Managing the succession of talent is a vital strategic process that minimizes gaps in leadership and enables your best people to develop the skills necessary for possible future roles.

This seminar will show you how to design and implement an effective and flexible succession plan that will help your organization continue to grow and achieve its business goals.

• Learn to formulate strategies for attracting, retaining and developing skilled individuals
• Know how to develop future leaders from within while retaining intellectual/operational expertise
• Be able to sustain business relationships that are vital to your organization’s success
• Develop a targeted approach to identify the competencies needed for specific positions
• Help increase retention by matching your company’s needs with the aspirations of individuals

• Succession planning: an overview of its importance, function and methodology
• The role of HR in setting up a succession planning system
• Forecasting future needs and strategic alignment
• Developing the succession planning process
• Building individual development plans
• Effective monitoring, measuring and follow-up processes

Learning Objectives

• Define Succession Management and Why Leaders Must Focus on It
• Identify Where Succession Management Fits Within Managing Talent
• Recognize Where Your Organization Is on the Succession Journey and What Your Role Is In Continuing the Journey
• Identify What to Assess to Have Leaders Ready for Change
• Write Individual Development Plans (IDPs) That Help Leaders Grow Faster
• Develop Succession Strategies That Are Aligned with the Organization’s Business Strategies, as Well as Millennial Values and Goals
• Develop Metrics for Measuring and Evaluating the Organization’s Succession Process
• Implement Succession Management Programs That Meet the Needs of Your Employees and Your Organization

Building Competitive Advantage with Talent—It’s a Journey

• Recognize How Traditional Succession Planning Fits into an Organization’s Overall Talent Management Strategy
• Identify the Six Levels of Succession Management Programs and Recognize Where Your Organization Is on the Journey
• Describe the Five Steps of Succession Management in Today’s Organizational Environment

Using Business Strategy to Determine Talent Needs

• Identify Trends Impacting Your Business Strategy
• Explain Your Organization’s Business Strategy and How That Impacts Succession Planning
• Describe the Attributes, Traits, and Competencies That Align to Specific Business Strategies
• Recognize Your Own Personal Strengths and Weaknesses Related to Learning Ability

Assessing Leadership Potential

• Define Leadership Potential and High Potential
• Describe Criteria for Identifying High Potentials
• Utilize Tools for Identifying and Assessing Potential
• Support the Use of Assessments as the Best Practice for Assessing Talent
• Recognize the Impact of Transparency or the Lack of Transparency on Employees
• Facilitate Talent Review Meetings

Identifying Readiness and Thinking Creatively About Development

• Create a Process for Reviewing and Developing Employees Throughout the Year
• Select Tools and Forms That Support Your Process
• Recognize What Makes Leaders Grow Faster
• Apply the 70-20-10 Framework to Individual Development Plans
• Conduct Interim Review Meetings Initiated By the Employee
• Identify the Impact of Millennials on Talent Management

Measuring and Evaluating Succession Management

• Recognize the Importance of Using Metrics to Evaluate Succession Planning in an Organization
• Identify Areas That Should Be Measured
• Describe How Predictive Analytics Can Be Used in Succession Planning
• Determine Which Metrics Will Be Most Useful to Your Organization
• Recognize the Role Intuition May Have in Succession Planning

Action Planning to Advance Overall Succession Planning for the Organization, Yourself, and Your Team

• Apply Some of What You’ve Learned to the Three Major Areas of Your Organization