Transcription
Developing leaders from withinPlan ahead to prepare your workforceOctober 24, 2019 2019 Ceridian HCM Inc. All rights reserved.
PresenterSpandana KondaProduct Owner, CeridianSpandana brings 10 years of product management experience and 5 years of HRexperience. She is responsible for the Dayforce performance management and successionplanning modules where she became an integral member of the team since the launch ofthese products. She brings a wealth of information to her role with her substantial experienceworking in various areas of Human Resources. Spandana holds an MBA in HR and IT fromIndia. She is also a certified Scrum Master, helping teams with Agile development practices.
US national unemployment rate4%macrotrends
A need for internally sourcing talentTransparency intocareer paths anddevelopmentopportunities for highpotential employeesOrganizations can beleft scrambling to fillthe void without aplan in placeJob hopping hasbecome the newnormVacating employeestake their skills andcompetencies withthemSuccession planningis often consideredfor C-suite, but thereare critical roles at alllevelsFilling positionsexternally is timeconsuming andexpensiveExternal hires have asteeper learningcurve and longer timeto productivityOnly 40% ofcompanies have asuccession plan inplaceSHRMXpertHR
What are the two most important areas of focus for your HR department in the coming year?(select two, top five answers)ChallengeAll responses1,000 or moreemployeesUnder 1,000 employeesEmployee learning anddevelopment44%39%46%Recruit talent tosupport growth38%38%39%Streamline HR back officethrough processimprovement/ automation26%28%26%Reduce turnover26%26%Improve overallemployee experiencewith HR services ortools24%24%4.1%25%24%Ceridian HR.comReport
It’s in the numbersCompanies who scramble to finda CEO replacement forgo 1.8 billionin shareholder valuesPoor CEO planning leads tolonger tenure of ineffective CEOsin stock returns45% less than industrypeersHarvard Business ReviewDon't be left scrambling when employees leave.
Understand your organization’sneeds and understand yourpeople’s career goals
The key is mapping these together todevelop your leaders of tomorrow
Tips for developing talentfrom within
Commitment at the senior level Importance of planning for thefuture Hold the executive teamaccountable Align plans with business goalsand strategy“Succession planning helpsbuild the bench strength of anorganization to ensure thelong-term health, growth andstability.”– Teala Wilson
Pipeline approach Be proactive by identifying future talent requirements What are the current and future talent gaps Create “Hi-Po” talent pools Develop sourcing and recruitment plans for external talent“Succession planning does not start with the people. It starts with the requirements of the position.”- David Ulrich
Assess performance & potential Have regular talent reviews Leverage performanceconversations, continuousfeedback Take a strengths-based approachto abilities and skills
Learning & development Leaders don’t just appear – we need to build leaders Targeted career pathing and development Formal, structured development plansDirected, individual activitiesCoachingMentoring and/or sponsors“Effective Succession involves more than just a replacement planning process. Italso includes a comprehensive employee development system”.- SHRM Developing Talent 2010
on
Employees want more guidance on career growth
Career ExplorationYou’re in the driver’s seat!
Engagement of high potentialsImportance: Investment of resources and dollars Don’t keep it a secret, but follow through on development plans forhigh potential employees Decrease regrettable turnover Continuously measure engagement of high potential group
Your leaders of today hold the key todeveloping your leaders of tomorrow
Dayforce Succession Planning
Create Succession Plans
Add successors
Use the Talent Matrix
Future enhancementsEditableTalent ProfileDevelopmentplansConnect keypositions tosuccessionplansSuccessorcomparisonManageraccess toplans
The future of organizations depends onthe growth of the people within them
Polling questionI would like to be contacted by a Ceridian representative to get more information about DayforceSuccession Planning. Yes NoHow to get in to polling?Log into to the i2go: INSIGHTS 2019 App Enter Verification Code Go to My Schedule Findthis session Open session and select Live Poll
Questions? 2019 Ceridian HCM Inc. All rights reserved.
Spandana brings 10 years of product management experience and 5 years of HR experience. She is responsible for the Dayforce performance management and succession planning modules where she became an integral member of the team since the launch of these products. She brings a wealth of information to her role with her substantial experience
