Download - Successful Succession Plan
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Successful
SuccessionPlanning
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Table of Content
What is Succession Planning
Why Succession Plan
Succession Plan Model
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What is Succession Planning?
It is a process for identifying and developing internalpersonnel with the potential to ll key or criticalpositions
It increases the availability of eperienced and
capable e!ployees that are prepared to assu!ethese roles as they beco!e available
It accelerates the transition of "ualied e!ployeesfro! individual contributors to !anagers and
leaders It reduces risk# creates a leadership !odel# develops
a plan for s!ooth business continuity and i!provesta$ !orale
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Why Succession Planning?
I!pending retire!ents of aging workforce
Increased turnover fro! a growing econo!y
Surge in interest of beco!ing an entrepreneur
Continued global epansion which re"uires leaderswith broader skill sets
%evelop talents and long ter! future growth
I!proves workforce capabilities and overall
perfor!ance %ecrease the high costs of eternal recruiting
Provides !ore e$ective !onitoring and tracking ofe!ployee prociency levels and skill gaps
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Succession Planning Model
&' Identicationof (ey Position
)' *or!ation ofSuccession
Planning Tea!
+' Preparing ofSuccessor,s list
-' Identifying of.eadership
Characteristics
/' Identication
of successorfro! currentbench
0' %esigning ofSuccessor,s
career path orlling Succession
Plan for!
1' *illing
%evelop!entreview for! forTalent 2eview
3' Successor,sreadiness
fra!ework
4' Monitoringand follow up of
develop!ent
progress
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Categori5e (ey .eadership Position
1. Identifcation o Key Position
*actors
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Position Impact Factor
Rating: 1 = Strongly Disagree; 2 = Disagree; 3 = Agree; 4 = Strongly Agree
Span of Control
Managing 6est use of li!ited resources as per organi5ation7s re"uire!ent andaction plan to achieve the ob8ectives through the people
:ctive participation in decision !aking
2ole is critical to business success and stu$ed by e!ployees with high degree ofManage!ent or Technical Co!petency
Signicant nu!ber of people reporting to the role
Accountability
The role is accountable;responsible for successful operation of a specicdepart!ent
The top !anage!ent re"uires constant reporting fro! the role on signicantissues
The role has to ensure successful co!pletion of critical pro8ects assigned to it
Impact on Business
The role has regularly and directly interface with signicant business partners;
key custo!er relations thereby represents the public face of the organi5ation
2ole is continuously facing the key challenge and uni"ue to the organi5ation;6usiness; *unction
The role is dinits goal
The role has signicant nancial attach!ent
Position Impact Factor=
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Vacancy Risk Factor
MarketabilitySuper Marketability
(!igh Marketability
("!
ModerateMarketability
(#!
Weak Marketability($!
Age)1 = /1
(!/1 = 31
("!)) = )1
(#!31 and above
($!
Vacancy Risk Factor=
Score of PositionI!pact *actor
@ut of 31%
Score of Aacancy2isk *actor
@ut of 1=
AttritionFactor
Scale o Judgment
igh B3+ andabove
Mediu! B/3 to 33
.ow Bbelow /3
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Succession Planning Model
&' Identicationof (ey Position
)' *or!ation ofSuccession
Planning Tea!
+' Preparing ofSuccessor,s list
-' Identifying of.eadership
Characteristics
/' Identication
of successorfro! currentbench
0' %esigning ofSuccessor,s
career path orlling Succession
Plan for!
1' *illing
%evelop!entreview for! forTalent 2eview
3' Successor,sreadinessfra!ework
4' Monitoringand follow up of
develop!ent
progress
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Identifying Successor for (ey .eadershipPosition
2. Forming Succession Planning Team
&roup Comprises of'
6oard of %irectors; CD@; C@@Eead of 2
E2espective *unctional ead
E
Mini!u! ) DC Me!ber
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Identifying Successor for (ey .eadershipPosition
3. Identifcation o Successor (ey Position
6ench
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Identifying Successor for (ey .eadershipPosition
3. Identifcation o Successor
Co!!on Criteria
I' Dperience
II' Dducational Fualication
III'Co!!on 2ole 6ehavior
IA'Co!petencies B.eadership G *unctionalA' Perfor!ance :ppraisal
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Identifying Successor for (ey .eadershipPosition
3. Identifcation o Successor
Dperience Matri *actor
)periencePoints
Rele*ant Rele*ant % +on,rele*ant
", years/=3 years of relevant eperience
B+
/=3 years of relevant E non=relevant eperience
B3
,- years3=+ years of relevant eperience
B0
3=+ years of relevant E non=relevant eperience
B+
- yearsabo*e
+ years above relevanteperience
B-
+ years above relevant E non=relevant eperience
B0
)perience Matri) Factor=
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Identifying Successor for (ey .eadershipPosition
3. Identifcation o Successor
Dducation Matri *actor+ame of t.e /egree
Points0otal
Rele*ant +on,rele*ant
Bac.elor /egree
Pass Course & H
66: 3 /
6:;6co!;6SC; 6SSBons'
/ )
Master /egree
M: / )
Mco! / )
MSC / )
M6: + /
MSS / )
Professional/egree
DM6: 3 /CM: 3 /
C: + 3
:CC: 3 /
M66S 3 /
ngineering/egree
6SC 3 /
%iplo!a ) &
/iploma
Post raduate / )
eneral & H
1ucation Matri) Factor=
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Identifying Successor for (ey .eadershipPosition
3. Identifcation o Successor
Co!!on 2ole 6ehavior %e!onstration Matri *actorRating: Critical Development = 1; Development = 2; Competent = 3; Strength = 4; ExceptionalStrength =
$2Responsi*enessto3ar1 3ork
6e proactive rather reactive' Take responsibility and challenges indoing 8obs'
#2 Meet t.eorgani4ational1eman1
:bility to set prioriti5es of work' Meet the work dead=line and begoal oriented'
"2 5ork for all 2espect towards others work' Should be good tea! player'
2 Intelligibilityto 3ork
>nderstand the work' Dchanges views with others' Take rightdecision at the right ti!e to !eet the target'
-2 6se talentDnsure continuous creativity and i!agination of doing 8obs byusing available scare resources of the organi5ation'
Common Role Be.a*ior /emonstration Matri) Factor=
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Identifying Successor for (ey .eadershipPosition
3. Identifcation o Successor
Co!petency %e!onstration Matri *actor
!ea"ership
Rating: Critical Development = 1; Development = 2; Competent = 3; Strength = 4; Exceptional Strength =
$2 Focuses onBusiness
Should be result oriented' :ble to !ake "uick decisions on the basis of appropriate level ofanalysis and eperience' Make every e$ort to achieve business ob8ective and e$ectivelyutili5e resources to !ake things happen'
#2 7ea1s t.ec.ange process
Work as a change agent by consistently looking for newer G better ways of doing things'Dncourages the acceptance of change by providing leadership that !otivates others tolook for and e!brace change opportunities'
"2 0eam player 6uilds e$ective result=oriented tea!s and encourages !utual respect and cooperativetea! spirit in both own and cross functional work areas
2Communicationcapabilities
Co!!unication with eternal as well as internal custo!ers in a skillful !anner' :lsoengages and co!!unicates with relevant stakeholders including custo!ers# suppliers#and govern!ent agencies to reali5e business ob8ectives'
Competency /emonstration Matri) Factor=
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Identifying Successor for (ey .eadershipPosition
3. Identifcation o Successor
Co!petency %e!onstration Matri *actor
#$nctional
Rating: Critical Development = 2; Development = 4; Competent = %; Strength = &; Exceptional Strength= 1'
Functionalcompetency
Please rate on the above scale as per relevant key functional co!petencies andrelevant level as per co!petency fra!ework
Competency /emonstration Matri) Factor=
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Identifying Successor for (ey .eadershipPosition
3. Identifcation o Successor
Perfor!ance Matri *actor
8ear Point 0able 0otal
Jear &
==================
DtraordinaryB&HHE(9!
DcellentB4H=&HH(!
oodB1H=4H(#!
Jear )
==================
DtraordinaryB&HHE
(9!
DcellentB4H=&HH
(!
oodB1H=4H
(#!
Jear /
==================
Dtraordinary
B&HHE(9!
Dcellent
B4H=&HH(!
ood
B1H=4H(#!
Performance Matri)Factor=
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Identifying Successor for (ey .eadershipPosition
3. Identifcation o Successor
Successor :ssess!ent *actor
)perienceMatri) Factor
@ut of - points
E
1ucationMatri) Factor
@ut of )&points
E
Common RoleBe.a*ior
/emonstratio
n Matri)Factor
@ut of )+Points
E
Competency/emonstratio
n Matri)
Factor
@ut of /HPoints
E
PerformanceMatri) Factor
@ut of &1Points
K
Scale o()$"gment
4H and above K *ast Tracker
1H to 14 K igh Potential
6elow 1H K ood Potential
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Identifying Successor for (ey .eadershipPosition
4. Successors eadiness Frame!or"
Short ter! G .ong ter! successors
.ength of period
+ame of :ey Position'/ate'
5a*e $ 5a*e # 5a*e "
2eady now or
within & year
2eady after )years but within /
years
2eady after 3years but within +
years
La!e of the personLature of the
Successor
La!e of the personLature of the
Successor
La!e of the personLature of the
Successor
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Succession Planning Model
&' Identicationof (ey Position
)' *or!ation ofSuccession
Planning Tea!
+' Preparing ofSuccessor,s list
-' Identifying of.eadership
Characteristics
/' Identicationof successorfro! current
bench
0' %esigning ofSuccessor,s
career path orlling Succession
Plan for!
1' *illing%evelop!ent
review for! forTalent 2eview
3' Successor,sreadinessfra!ework
4' Monitoringand follow up of
develop!ent
progress
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%esigning Career Path
#. Pre$aring Successor %ist
Successor Pool
I/ +o2 +ame 0estScore
PresentStatus
Successor;s+ature Rea1inessStructure
:ey Position
AgainstSuccessor
:ey
Position;s&ra1e&ra1e
Position
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%esigning Career Path
&. 'esigning o Successors (areer Pat) or Filling SuccessionPlan Form
La!e of SuccessorNNNNNNNNNNNNNNNNNNNNNNN %esignationNNNNNNNNNNNNNNNNNNNNNN I% LoNNNNNNNNNNN
%ept';6usNNNNNNNNNNNNNNNNNNNNNNNNNN *unctionNNNNNNNNNNNNNNNNNN %ateNNNNNNNNNNNN
Successor;sInfo
:ey PositionInfo
Inception Info&ra1e Mo*ement (Pleasemention 1esire1 1ate