successful succession plan

7/25/2019 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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Planning Tea!



Characteristics

/' Identication

of successorfro! currentbench



Plan for!

1' *illing

%evelop!entreview for! forTalent 2eview

3' Successor,sreadinessfra!ework


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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3. Identifcation o Successor (ey Position

6ench


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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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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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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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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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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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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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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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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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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


Successor


Successor


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Planning Tea!



Characteristics

/' Identicationof successorfro! current

bench



Plan for!

1' *illing%evelop!ent

review for! forTalent 2eview

3' Successor,sreadinessfra!ework


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

successful succession plan

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