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SHRM Assignment TASMAC
Date: Dec 05, 2010
Succession Planning
Vivekanandan M
Vivekanandan M
Presented by…..
Slide No: 1
SHRM Assignment TASMAC
Date: Dec 05, 2010
Succession Planning
Vivekanandan M
1. Introduction to Succession Planning
Slide No: 2
2. Succession Planning Process
3. Challenges in Succession Planning
4. Example for Succession Planning
SHRM Assignment TASMAC
Date: Dec 05, 2010
Succession Planning
Vivekanandan M Slide No: 3
Introduction
Definition:
"Succession planning" is a process for identifying and developing internal people with the potential to fill key leadership positions in the company.
Why succession planning is important:
a) Succession planning is vital to the success of the organization because
the individuals identified in the plan will eventually be responsible for
ensuring the company’s future growth and tackling future challenges.
b) Aging workforce
SHRM Assignment TASMAC
Date: Dec 05, 2010
Succession Planning
Vivekanandan M Slide No: 4
Succession Planning Process
Succession planning process identifies which individuals should be included in a candidate pool and evaluates each individual’s
readiness and development needs for assuming new leadership roles. The outcome of the planning process is a “pool” or group of
candidates, who can fill future positions and whose development is the priority in building leadership and professional capab ilities.
•Identify
candidates for
succession
through self-
nomination
process
•Managers review
list of candidates
•Compile list of
candidates
• Candidate builds
the profile by:
Collecting relevant
performance
information
Documenting work
history
Conducting self-
assessment
• Manager completes:
Review 360 roll-up
Review the profile &
self-assessment
Rate candidate’s
readiness to assume
greater responsibility
Rate Risk for
Separation
Identify positions for
future succession
Aggregate
Readiness
Assessments
•Review Roles &
LSA process
•Discuss candidates
against succession
needs and each
other
- Strengths
- Weaknesses
•Finalize readiness
ratings
•Conduct Feedback
meeting with each
Candidate
•Candidate updates
Development Plan &
Goals in Development
Engine
1. Identify
Candidates for SP
5. Modify/Update
Development Goals
& Action Plan
2. Build
Candidate
Profiles
3. Assess
Readiness
4. Conduct Leadership
Skills Assessment
(LSA) Session
SHRM Assignment TASMAC
Date: Dec 05, 2010
Succession Planning
Vivekanandan M Slide No: 5
Succession Planning Process
Create & maintain Candidate
Profiles
Report and maintain information
on Candidate pool as a whole
Discuss Candidate pool needs
on a macro level
Consider other approaches to meet
the position need
Identify best
candidate to fill
vacancy
Identify new candidates for
succession
Revise candidate
pools
7. Respond to
Vacancies
& Risks
6. Compile, Maintain
& Report Data
SHRM Assignment TASMAC
Date: Dec 05, 2010
Succession Planning
Vivekanandan M Slide No: 6
Challenges in Succession Planning
a) Not having a job description to establish expectations and role
accountability.
b) No process for identifying and developing high potential employees.
c) Low priority given by senior management.
d) Organization culture/politics
e) Lack of role models in organization
f) Retaining talents
SHRM Assignment TASMAC
Date: Dec 05, 2010
Succession Planning
Vivekanandan M Slide No: 7
Example for Succession Planning
In 1981 Jack Welch became the CEO of General Electric and served in that
position until he retired in 2000.
in 1991, Jack Welch stated: "From now on, choosing my successor is the most important decision I'll make. It occupies a considerable amount of
thought almost every day.“
GE had three candidates - Jeff Immelt, W James McNerney and Robert L Nardelli. All three were ideal candidates and aspirants for the top job. All
three exceeded every expectation required. Finally, the youngest of the
three, Immelt was chosen.
W James McNerney and Robert L Nardelli, moved on as the CEOs of 3M
and Home Depot, respectively
SHRM Assignment TASMAC
Date: Dec 05, 2010
Succession Planning
Vivekanandan M
Thank You!
Slide No: 8
