reimagining succession management - korn ferry · 2020-01-28 · reimagining succession management...

REIMAGINING

SUCCESSION

MANAGEMENT

Thank you for joining us.

This webinar will start on the hour.

© 2019 Korn Ferry. All rights reserved 2

Ilene R. Gochman, Ph.D.

Global Head of Assessment

and Succession Solutions at Korn Ferry

1 WHERE IS YOUR ORGANIZATION ON THE SUCCESSION CONTINUUM?

2 OUR RESEARCH

3 EIGHT IDEAS FOR REIMAGINING SUCCESSION MANAGEMENT

4 THE KORN FERRY SUCCESSION QUIZ

5 Q&A

Agenda

3© 2019 Korn Ferry. All rights reserved

How to engage with us


Chat

For general comments and technical queries.

Q&A

To submit questions for the Q&A at the end of the webinar.

The Succession Continuum


MAINTAIN EVOLVE REFRESH DISRUPT

Compliance mindset:

Meeting regulatory commitments.

Think“Have I complied with

the process?”

DoHit process deadlines.

TalkRatings.

Risk management mindset:

Ensuring business continuity.

Think“Have I clarified the risk?”

DoFocus on “ready now”

replacements.

TalkEmergency successors.

Asset management mindset:

Making the most of the individual

talent you have.

Think“Do I know who my best people

are, what they want and how

to grow them?”

DoFocus on really getting to know

their people and getting them the

stretch they need.

TalkGoals, ambitions, capabilities.

Portfolio management mindset:

Managing the talent eco-system.

Think“Have I got the best people in the

market, no debate?”

DoScouts for talent, takes bold decisions.

TalkCapability, personal challenge,

sector leadership.

Poll question:

Where is your organization on the Succession Continuum?



Compliance mindset:

Meeting regulatory commitments.

Think“Have I complied with

the process?”

DoHit process deadlines.

TalkRatings.

Risk management mindset:

Ensuring business continuity.

Think“Have I clarified the risk?”

DoFocus on “ready now”

replacements.

TalkEmergency successors.

Asset management mindset:

Making the most of the individual

talent you have.

Think“Do I know who my best people

are, what they want and how

to grow them?”

DoFocus on really getting to know

their people and getting them the

stretch they need.

TalkGoals, ambitions, capabilities.

Portfolio management mindset:

Managing the talent eco-system.

Think“Have I got the best people in the

market, no debate?”

DoScouts for talent, takes bold decisions.

TalkCapability, personal challenge,

sector leadership.

Our research

Where our insights have come from:

Interviews with

30 leading global

organizations.

Comprehensive

research to establish

the most contemporary

thinking on the future

of talent management.


Our eight core ideas for reimagining succession


Find the best

people, wherever

they are.

Focus on future

capabilities.1

5

Create talent

intimacy.

Think team,

not individual.

2

6Measure

impact.

It’s about

the journey.3

7

Know your points

of differentiation.

Structure

HR around

business issues.

4

8


Growth

Product expansion

and development

Operational excellence

Cost effectiveness

Digital

1. Focus on future capabilities

Business priorities should drive talent needs


Success profiles identify future requirements



Process based on roles

Process based on business needs

Person 1 Person 2 Person 3 Person 4

Business challenge 1 x x

Business challenge 2 x x x x

Business challenge 3 x x x



Business challenge 6 x




Key statistics

9-box grid

Succession plans

Action plans


Reframe talent reviews in terms of future capabilities

2. Create talent intimacy

Talent intimacy builds talent development


Organizations

are getting to

know their people.

Organizations are

adopting a more

people-centric

conversation.

Greater focus

is being placed

on supporting

the individual.


Women CEOs Speak

Of the 57 former

female CEOs we

interviewed last year,

only 12% always

knew they wanted to

be a CEO.

More than half gave no thought to

being a CEO until

someone explicitly

told them they had it

in them.


Get to know your people

67% of the world’s

most admired

companies have

leaders who devote

a significant amount

of time to developing

talent, compared

with 48% among

peer companies.

Check

in often

Don’t make

assumptions

Find the

deep drivers

Minimize

labels

Shape

aspirations



Career advice on critical experiences is crucial


High touchCareer advice offered to

the most valued talent

through specialist,

internal career experts.

Low touchCareer advice for all via

web-based solutions.

3. It’s about the journey

Careers move up, down, diagonally, and sideways


3. It’s about the journey

Career assignments can build capabilities


61% of World’s Most Admired

companies use career

assignments extensively

to develop high potentials

and key executives.

35% amongst peer

companies.

4. Know your points of differentiation

Make choices and focus


Top 250

The traditional deep-dive hierarchical

approach can lack commercial focus.

Traditional model

Segm

ent

1

Segm

ent

2

Segm

ent

3

Top 50

Business-centric model

5. Find the best people, wherever they are

Is the talent you have, the talent you need?


Leaders who are a close fit with traits and drivers in

Korn Ferry’s unique target profiles were up to 13x

more likely to be highly engaged in their jobs.

▪ Be absolutely rigorous at the point of specification.

▪ Use each vacancy as an opportunity to challenge the profile.

▪ Look for talent in non-obvious places.


BUILD?

BORROW?

BUY?


Successors may not be in plain sight



Do successors have to be regular

full-time employees?

CONTRACT PART-TIME

PROJECT REHIRES

RETIREES GIG

FULL-TIME SHARED

ROTATIONS FLEXIBLE

6. Think team, not the individual

Don’t fill the role – pick the team


Team-centered model



Business challenge 2 x x x x

Business challenge 3 x x x






7. Measure impact


High managescomplexity

score

Low managescomplexity

score

High strategicvision score

Low strategicvision score

Korn Ferry report: Blazek, Lewis, Jones, & Orr (2017)

Str

ate

gic

vis

ion

Manages

com

ple

xity

8. Structure for business, not expertise

Structure HR according to business issues


Refreshed

COE structure:

Segment- or BU-based

Transformed

COE structure:

Issue-based

Traditional

COE structure:

Expertise-based

Take the Korn Ferry succession quiz


SU

CC

ES

SIO

N

MA

NA

GE

ME

NT

DE

VE

LO

PM

EN

T

AN

D C

AR

EE

R

SU

PP

OR

T

TA

LE

NT

MO

BIL

ITY

SUCCESSION

PLANNING

TALENT

REVIEWS

STRETCH MOVES

/ RISK TAKING

DEPLOYMENT /

INTERNAL

MOBILITY

CAREER

DEVELOPMENT

LEARNING AND

DEVELOPMENT

REPLACEMENT PLANNINGPerson to job

PEOPLE PLANNINGTalent review as risk management

STRETCH MOVES AS REWARDSStretch moves linked to promotion

JOB POSTINGIndividuals posted to jobs

HIERARCHICAL CAREER PROGRESSION‘One-step’ moves up the ladder

SKILL-BASED TRAININGImproving capability to perform the current role

REPLACEMENT POOLMultiple people toone job

ORGANIZATION AND TALENT REVIEWSTalent review as asset management

STRETCH AS DEVELOPMENTStretch moves planned for growth

PREFERENCE POSTINGIndividuals input to the decisions on posts

CAREER ‘CLIMBING FRAMES’Movement occurs across, down and up

BLENDED LEARNINGImproving capability to perform the next role

SUCCESSION POOL Multiple people tomultiple jobs

DUAL RHYTHM TALENT REVIEWSTalent reviews people centered and dual rhythm

STRETCH AS EXPERIENCEStretch linked to breadth

SELF NOMINATED MOVESIndividuals drive choice of internal move

SPIRAL CAREERSCareers spiral in and out of the organization

STRETCH LEARNINGOpening up career options

CAPABILITY PLANNINGPeople mapped against future capabilities

INFECTION POINT TALENT REVIEWSTalent reviews drive transformation

STRETCH AS ALLStretch is everyday

OPEN MARKETInternal market mirrors freedom of external market

PLASTIC CAREERSThe lines between organizations cease to exist

LIFELONG LEARNINGImproving employability


Poll question:

How will you reimagine your succession practices?


Find the best

people, wherever

they are.

Focus on future

capabilities.1

5

Create talent

intimacy.

Think team,

not individual.

2

6Measure

impact.

It’s about

the journey.3

7

Know your points

of differentiation.

Structure

HR around

business issues.

4

8

Q&A

Q&A For further information:

Download the report:

http://bit.ly/2LFWQ4R1


Complete the two question survey at the end of the webinar to

request to be contacted by one of our succession experts to learn more

about our solutions in this area.3

Take the succession continuum quiz:

http://bit.ly/30PnDPA2

http://bit.ly/2LFWQ4R

Thank you

reimagining succession management - korn ferry · 2020-01-28 · reimagining succession management...

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