succession planning and knowledge management€¦ · –ifma fmp prep course –building...
TRANSCRIPT
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Succession Planning and Knowledge Management
Tackle what seems like an uphill battle
Jake Smithwick, PhD, FMP, SFPThe Simplar Institute
University of North Carolina at Charlotte
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• Group of researchers and educators
• Integrated within the parties (clients/buyers and vendors)
• Developed tools, methods, & training to enhance:
– Organizational Transformation
– Procurement & Sourcing
– Project & Risk Management
– Operational Efficiency
– Human Dimensions
– Performance Measurements
– Benchmarking & Workforce
– Facility Management Professional Training
Simplar Institute
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• Knowledge Inventory built on a career of successes and failures,
• Knowledge provides:– operational efficiency
– foster innovation
– reduce errors
What Are We Actually Talking About?
Knowledge Management
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Why We Need to Address It
Strategic Issues Challenges
• Reduced efficiency and an increase in critical errors
• Inhibits innovation
• Reduces the ability to pursue growth strategies
• Industry keeps growing.
• Finding new FM talent is a challenge
• Maintaining a head count guarantees a net loss of an organization’s knowledge
Construction Industry Institute (CII). (2013). Transferring Experiential Knowledge from the Near-retirement
Generation to the Next Generation (No. 292–1). University of Texas at Austin.
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Average Age in Construction
36
37
38
39
40
41
42
43
1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014
Ave
rage
Age
SOURCE: Data Ferret – Current Population Survey, U.S. Bureau of Labor Statistics.
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Construction Demographics
SOURCE: Data Ferret – Current Population Survey, U.S. Bureau of Labor Statistics.
15
19
23
27
31
35
39
43
47
51
55
59
63
67
71
75
79
Age
2014
2007
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• National Healthcare Facility Director Study – 217 unique directors and healthcare systems (US only)
• 57% Healthcare FM workforce will be retiring with 10 years– 35% in 5-10 years– 22% in less than 5 years
• Average experience prior to being a Healthcare FM – Build Tradesperson: 10yrs trade + 3yrs Management– Facility Professional: 5yrs trade + 7yrs Management– Construction Professional: 10yrs trade + 9yrs Management
• Average of 5 years to advance from entry level Healthcare FM
Key Healthcare FM Info
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• Traditional approach: promote mid-level employees to senior positions
• An adjustment is needed – the “bubble” is addressed, but experiential knowledge loss is a problem
Filling the gap is only half the battle
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Space Managed (SF)Entry-level FMs
(avg.)O&M Staff (avg. range)
<500,000 1 1-10
500,000 - 1,000,000 2 11-50
1,000,001 - 2,000,000 2 11-50
2,000,001 - 4,000,000 5 51-100
4,000,001 - 7,000,000 7 101-200
>7,000,000 10 201-500
General Healthcare FM Staffing
More than 80% of Healthcare FM staff is in-house
Spend on Works Orders highly correlated to FTEs
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Research Methodology
➢ Interviewed twelve
contractors who
recently experienced
leadership transition.
➢ Analyzed data for
trends, insights, and
bright spots.
➢ Review existing books,
papers, etc.
Some research in the area
Perrenoud, A. J., & Sullivan, K. T. (2016). Analysis of Executive Succession Planning in 12 Construction
Companies. International Journal of Construction Education and Research, p 1–17.
https://doi.org/10.1080/15578771.2016.1143892
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Findings
➢ Typical Successful Plan Duration - 9 yrs
➢ Planning & Selection - 2 yrs
➢ Preparing the Successor - 3 yrs
➢ Transitioning & Mentoring - 4 yrs
➢ Poor/unexpected health issues leading factor to succession
and high correlation to difficulties with transition
➢ Average successor had 15yrs experience & was 45yrs old.
Findings
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Findings
➢ 100% of companies used outside consultation
➢ 30% used a succession consultant to assist with positive
internal relationships during the transition
➢ 50% lost senior leadership as a result of the transition
➢ Average loss was 1/3 of senior leaders
➢ half left due to selection, 33% due to new boss’
management style
Findings cont’d
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Knowledge Retention
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Prepare Assess Plan Execute Monitor
Knowledge Retention Program
Construction Industry Institute (CII). (2013). Transferring Experiential Knowledge from the Near-retirement
Generation to the Next Generation (No. 292–1). University of Texas at Austin.
OrganizationSubject
AreaSubject Experts
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• 1) Prepare for Knowledge Retention program– Support infrastructure
–Program scope
–Objectives
–Align internal team
Get Ready
Prepare Assess Plan Execute Monitor
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See Where You’re At
• 2) Business Unit Demographic Analysis– identify need to experiential knowledge mgmt.
• 3) Confirm Feasibility for Continued Efforts
• 4) Prioritize areas for Knowledge Retention–what is the FM units “bench strength”
Prepare Assess Plan Execute Monitor
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Make a Plan
• 5) Understand the Environment– identify need to experiential knowledge mgmt.
• 6) Identify What Knowledge to Transfer
• 7) Prepare a Business Case– identify the effort required, benefits, and cost
Prepare Assess Plan Execute Monitor
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Let’s Get Going!
8) Develop Implementation Plan
9) Begin Implementation– collect lessons learned as you go!
Prepare Assess Plan Execute Monitor
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See It Through to the End
10) Monitor Effectiveness– continuous improvement
– ensure goals are met
– what can be done for next time
Prepare Assess Plan Execute Monitor
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This is really all about PEOPLE
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• Benchmarking High Performers and High Potentials – top to bottom –currently focused on engineering and construction professionals
• Measuring performance, attributes, personalities, and aptitudes
• Fast Tracking, Preparation, and Transition
• Laser-guide Talent Development– Identify the skills gap: best v. normal
– Determine what can/cannot be taught
– Train and educate what you can
CII Research Right Now
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• Talent identification & development + training
• Industry expertise
• But more than anything… this is organizational change
Things To Immediately Consider
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• Hire the Right Talent– Increased probability of finding employees who are the right “fit”
• Identify Existing Talent– Assess likelihood of success
• Retain Talent– Grow employees to achieve their maximum potential
How might these be used?
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• Benchmarking Human Dimensions for High Performers
• Benchmarking Human Dimensions for High Performing Teams
• Benchmarking Organizational Performance and Production
• Early Identify Future High Performers
• Laser-Guided Talent Development
• Organizational Mapping
Profile & Benchmarking
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Over 30 Master Degrees and 4 PhD Dissertations–What Psychological Tools are Available
–How to Assess People and Teams
–How to Collect Data
–What Data to Collect
Top 3 Tools Identified–HEXACO
– Emotional Intelligence
–DISC
Road to Today
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Six major dimensions of personality categorized further into four facets
HEXACO Personality Inventory
HONESTY-HUMILITY
Sincerity
Fairness
Greed Avoidance
Modesty
EMOTIONALITY
Fearfulness
Anxiety
Dependence
Sentimentality
EXTRAVERSION
Social Self-Esteem
Social Boldness
Sociability
Liveliness
CONSCIENTIOUSNESS
Organization
Diligence
Perfectionism
Prudence
AGREEABLENESS
Forgivingness
Gentleness
Flexibility
Patience
OPENNESS TO EXPERIENCE
Aesthetic Appreciation
Inquisitiveness
Creativity
Unconventionality
- Each facet and dimension measured on a scale of 1 to 5
- 100 questions
- Respondents indicate agreement or disagreement with various statements
- Developed by Ashton & Lee
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• Four primary skills under two main competencies: personal competence and social competence, measured from 1-100
Emotional Intelligence Appraisal
Personal Competence
SELF AWARENESS
SELF MANAGEMENT
Social Competence
SOCIAL AWARENESS
RELATIONSHIP MANAGEMENT
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QDISC-101
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• Individualized reports created for every respondent
• Report provides a detailed insight into an individual’s personality type
• Each assessment illustrates how the individual’s personality compares with the rest of the organization, and the overall industry
• Where information about the best-in-class in the industry is available, the report provides insight into how the individual compares against the best-in-class
Customized Individual Reports
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Customized Individual Reports
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Enhanced Decision Making
HiPerf PM
Honesty 3.21
Emotionality 2.99
Extraversion 3.33
Agreeableness 2.75
Conscientiousness 3.71
Openness 2.9
EQ 71
MBTI ESTJ
DISC D
“Susan”
Honesty 3
Emotionality 2.65
Extraversion 3.9
Agreeableness 3.56
Conscientiousness 4.12
Openness 2.12
EQ 68
MBTI ISTJ
DISC D
Honesty 3.78
Emotionality 2.84
Extraversion 3.45
Agreeableness 2.89
Conscientiousness 3.89
Openness 3.02
EQ 72
MBTI ISTJ
DISC D
“Larry”
Honesty 4.51
Emotionality 3.12
Extraversion 3.45
Agreeableness 3.32
Conscientiousness 2.99
Openness 2.56
EQ 78
MBTI ISFJ
DISC D
“Bob”
94% 85% 78%Aptitude Match
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• Significantly Higher Extraversion– Enthusiastic
– Confident
– Positive
• Significantly Higher Conscientiousness – Organized
– Disciplined
– Precise
• Significantly Higher Altruism – Sympathetic
– Generous spirit
– Soft-hearted
Top Performers - Individuals
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• Problem:– Contractors and Designers typically pick their team for a project based on
who is available at the time, not necessarily who is the best match for the owner’s personnel.
Team Performance – Case Study
• HEXACO – Honesty-Humility
Emotionality
Extraversion
Agreeableness
Conscientiousness
Openness
Self Awareness
Self Management
Social Awareness
Relationship Management
Overall Emotional Quotient
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Team Performance – Case Study
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Organizational Profile Mapping
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Organizational Benchmarking
• How do you stack up?
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• Use of human dimensionality through advanced psychological tools will enhance the decision-making in:– Identifying key talent (if allowed by the organization)
– Talent development
– Creating optimized teams
– Assigning teams to clients based on compatibility
– Identifying whom to promote
– Identifying whom to retain based on potential
– Identifying like-for-like replacements if a team loses a member
• This helps an organization become more sustainable
• If done for long enough, human dimensionality can be used to make better decisions
What does this all mean?
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FM Training & Credentials
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• 70% of organizations rate IFMA credentialed employees as having significantly higher performance
• For every $2,000 that a company spends on an employee to get trained/credentialed, they experience a 12% increase in employee performance on average– The average cost of 1% enhancement in employee performance is $164
• The average training for an IFMA credential results in more than a 40% increase in employee performance
Key Finding: Organizational Impact
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FM Education & Training
• ASU FM Professional Training (also FM Master Degree available)– FM Core Courses (applied certificates)– IFMA FMP Prep Course– Building Information Modeling Courses
• Deliverables/projects are designed from the everyday tasks an FM performs
• Participant works on the deliverables/projects throughout the courses integrated into their job functions, buildings, and organizations
• Deliverables/projects are reviewed by the participant’s supervisor as well as an industry panel to further optimize and deliver value to their immediate job function.
• Expert professionals & teachers: numerous FM Experts, IFMA Fellows, etc. on curriculum
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Non-Degree Programs Offered
• 100% online
• Self-paced
• Taught by– Industry
– SME’s
– IFMA Fellows
• Very high Satisfaction
Visit: https://pdt.engineering.asu.edu/
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Participants Include…
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Summary
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• Not capturing the sum & substance of the predecessor
• No mentorship period after transition (or “too much”)
• Focusing too much on ownership/financial issues & not enough on leadership & organizational issues
• Not being prepared or last minute planning
• Only 40% of companies have a succession plan in place
Lessons Learned
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Recommended Readings• Books
❑ To prepare yourself
– Succession: Are You Ready? (Marshall Goldsmith)
❑ To prepare the large corporation
– Effective Succession Planning 5th Edition (William J. Rothwell)
• Journal Articles– Passing the baton: The importance of sequence, timing, technique and
communication in executive succession. (Journal of Business Venturing, Vol. 17)
• Simplar Blog Posts [construction business focused]
– http://letstalkbusiness.net/some-company-founders-forget/
– http://letstalkbusiness.net/success-ion/
– http://letstalkbusiness.net/you-are-the-company/