Transcription
Simple Succession Planning WorkbookGetting Buy-In From Your Management TeamSIGMA’s Simple Succession Planning process is designed to help organizations identify and develop internal highpotentials to replenish existing talent when it exits the organization.This workbook walks through a series of exercises that can provide you with the information you need to sellsuccession to your management team. 2019 SIGMA Assessment Systems Inc. All rights reserved.
SIGMASuccessiongetting buy-in from your management teamA proven Succession Planning process provides a roadmap for success. This structure ensures consistency acrossthe company, aides in the communication of the plan across all levels of the organization, and provides theingredients for success.It is estimated that 70% of succession planning initiatives fail within two years because they lose support fromsenior leadership. This is why it is essential that your first step in developing a succession plan be to build a strongbusiness case for its importance. This should be personalized to both your industry and your organization to be asrelevant and compelling as possible.This workbook will walk you through a series of exercises to help build your case for succession planning.After completing this workbook you will be able to identify: why succession planning is important, what your organization’s current succession process entails, how your current process compares to expert recommendations, which areas in your organization are particularly vulnerable to sudden departures, the depth of your current talent pool, and next steps in the succession planning process.2www.SIGMASuccession.comSIGMASuccession Workbook
SIGMASuccessionsetting up for successto get the most from succession planning, you need complete support from the CEO alignment with strategic planning a systematic approach to identify and develop future leaders transparent communication to incorporate objectivity, accountability, and measurement a simple process that is customized to your organization’s unique needs3www.SIGMASuccession.comSIGMASuccession Workbook
SIGMASuccessionwhere to beginto gain buy-in from your senior management team, consider why succession planning is important to your organizationwhy succession planning (p.5) your current succession planning processyour current process (p. 6) the structure of your companyyour team (p. 9) the strength of your current candidatessuccession bench: nominate succession candidates (p. 12)4www.SIGMASuccession.comSIGMASuccession Workbook
SIGMASuccessionwhy succession planningthe reason:succession planning allows your company to plan for thefuture and ensure business continuity, despite potentialpersonnel changesthe benefits: retaining organization-specific knowledge motivating employees to grow their skills withopportunities for development or promotion preventing high recruitment costs and associated delaysthe bottom line: all organizations face turnover, and preparing for thisinevitability will protect your organization and help trainyour next generation of leaders today5www.SIGMASuccession.comSIGMASuccession Workbook
SIGMASuccessionyour current processUsing the questions below, complete the worksheet on the next page. Write youranswers under the current succession process column, leaving the recommendationscolumn blank for now. who is involved? what are the selection criteria? how formalized is the succession program? how transparent is the succession program? how is the program perceived in the organization? how is the succession process communicated?Then, complete the is your succession plan set up for success? checklist on p. 8 toassess the maturity of your current process and what areas need to be improved.6www.SIGMASuccession.comSIGMASuccession Workbook
SIGMASuccessioncurrent succession process / recommendationscurrent succession processrecommendationswho involvedpersons with inputhow decidedforms of selection criteriahow formal andtransparentdegree recognized andunderstood by employeeshow perceivedmanagement and employeeperceptionshow communicatedinformation forms sion Workbook
8www.SIGMASuccession.comSIGMASuccession Workbook
SIGMASuccessionyour teamTo get a better sense of those roles that should be a priority for your succession plan,fill in the at-a-glance organizational chart on p. 10. place the CEO at the top of the chart add direct and indirect reports below the CEO, using as many pagesand layers as necessary for your organization for each individual, check the boxes based on their: readiness to move into the CEO position in the next 3 years plans to remain with the organization for at least the next 5 years availability of replacements for their current roleTake a moment to evaluate your completed organizational chart. Any role withunchecked boxes should be considered for succession planning. Roles with more thanone empty box, or where several blank boxes appear together in a department shouldbe flagged as high priority.9www.SIGMASuccession.comSIGMASuccession Workbook
SIGMASuccessionat-a-glance organizational chartReady to move into the positionwithin the next 3 yearsReady to move into the positionwithin the next 3 yearsReady to move into the positionwithin the next 3 yearsReady to move into the positionwithin the next 3 yearsPlans to remain with theorganization for more than 5 yearsPlans to remain with theorganization for more than 5 yearsPlans to remain with theorganization for more than 5 yearsPlans to remain with theorganization for more than 5 yearsHas a replacement ready for theirrole if they were to be promotedHas a replacement ready for theirrole if they were to be promotedHas a replacement ready for theirrole if they were to be promotedHas a replacement ready for theirrole if they were to be promotedReady to move into the positionwithin the next 3 yearsReady to move into the positionwithin the next 3 yearsReady to move into the positionwithin the next 3 yearsPlans to remain with theorganization for more than 5 yearsPlans to remain with theorganization for more than 5 yearsPlans to remain with theorganization for more than 5 yearsHas a replacement ready for theirrole if they were to be promotedHas a replacement ready for theirrole if they were to be promotedHas a replacement ready for theirrole if they were to be promoted10www.SIGMASuccession.comSIGMASuccession Workbook
SIGMASuccessionsuccession benchThe purpose of the succession bench is to evaluate the depth of your talent pool bytracking the readiness of succession candidates for critical roles. identify your most critical role for succession planning based on p. 10 indicate the incumbent and urgency information for this position list succession candidates according to three levels level A: candidates ready for role in less than 3 years level B: individuals ready for role in 3 to 5 years level C: potentials ready for role in more than 5 years use the organization demographic columns to track candidates’intermediate growth through the organization via positions thatmove the individual closer to readiness for the focal role record progress toward succession position with time at each levelThis worksheet will help you track the overall strength of your talent pool, as well aseach candidate’s progress over time. Ask yourself, how strong is the bench? Is there aformal plan to strengthen the bench? How frequent is movement between levels?11www.SIGMASuccession.comSIGMASuccession Workbook
nSIGMASuccessionnominate succession candidates2019SuccessionBenchCurrent IncumbentExit YearUrgencyC:Bench StrengthB:A:Candidate ListCandidate NameProgression to Succession PositionFirstLevel CLevel BLevel AOrganization DemographicsCurrent PositionNext PositionReadiness for NextLevel CReady in 5 yearsLevel BReady in 3-5 yearsLevel AReady in 1-3 yearsLastSuccession Position12www.SIGMASuccession.comSIGMASuccession Workbook
SIGMASuccessionnext stepsNow that you’ve had an opportunity to evaluate your organization’s succession processand succession bench strength take some time to review your organizational chart for dependencies or areas of concern identify areas of high need: roles where incumbent is eligible or likely to retire positions that experience high rates of turnover individuals that possess knowledge that is needed but not widely known consider the skills needed for success in these high-need roles do you have anyone that already has these skills? if a skilled person is promoted, who will fill their role? review SIGMA’s simple succession process on p.14 return to p. 7 and record gaps between your process and SIGMA’s13www.SIGMASuccession.comSIGMASuccession Workbook
SIGMASuccessionsimple succession process recommendationsibnadmidentify criticalrolesIdentify which roles your organization should target throughits succession program.Critical Role Identification Questionnairebuild successprofileDescribe the talent composition required for each critical roleat the present time and according to your organization’sfuture needs.Success ProfilenominatesuccessorsSelect succession candidates for each critical role using theNomination Questionnaire.Succession Nomination SurveySuccession Bench SummaryassessdevelopmentneedsSummarize the talent profile of each succession candidate,and identify gaps to target through development.Succession Profiledevelop talentOutline or update development plans for each candidate, andtrack recommended and completed development activities.Development PlanDevelopment Activities TrackermeasureprogressUpdate the scorecard, tracking various indicators of improvedsuccession planning outcomes.Talent Progress Scorecard14www.SIGMASuccession.comSIGMASuccession Workbook
SIGMASuccessionhow SIGMA can helpAfter completing this workbook you should possess the information needed to speakwith your management team about the importance of succession planning, particularlyfor those roles which may be vulnerable to sudden departures.If your company is interested in developing a succession plan, SIGMA can help.We have designed a simple process to help your company create a personalizedsuccession plan that will cater to your current needs while helping your company toplan for the future.Contact us to learn more about how we can help you prepare for tomorrow15www.SIGMASuccession.comSIGMASuccession Workbook
SIGMASuccessioncontactGlen Harrisongharrison@SigmaSuccession.com800-265-1285 ext. MASuccession Workbook
US: SIGMA Assessment Systems, Inc. PO Box 610757 Port Huron MI 48061-0757 P: 800-265-1285 E: support@sigmahr.comCanada: Research Psychologists Press, Inc. PO Box 3292 Stn. B London ON N6A 4K3 P: 800-401-4480 E: support@sigmahr.comwww.SIGMASuccession.com
The purpose of the succession bench is to evaluate the depth of your talent pool by tracking the readiness of succession candidates for critical roles. identify your most critical role for succession planning based on p. 10 indicate the incumbent and urgency information for this position list succession candidates according to three levels
