Browsing the archives for the Talent Management category.

Five thoughts about succession planning

Geek 5, Managing people, Talent Management

We’ve talked about what succession planning is, what succession ratings mean, and the difference between performance and potential.  Here are some key points to consider:

1.  Succession planning is about identifying key talent and developing employees for bigger roles.

2.  This planning is a form of risk management for the company.  It ensures that key roles have back up, so the business will not be significantly impacted if someone leaves.

3.  Performance and potential are not the same thing.  The best sales representative is not necessarily the best manager of the sales group.

4.  As a manager of people, you have a dual role in succession planning.  You must consider the potential and development of your direct reports and you, as an employee, are discussed in the process.

5.  You can improve your standing in succession planning by:

  • doing an outstanding job in your current role
  • showing a willingness to take on bigger responsibilities
  • living the values and competencies developed by your company
  • letting your boss and other key leaders know about your career goals
No Comments

Good Now Doesn’t Mean Great Later

Geek 5, Managing people, Talent Management

If you are a manager, or aspire to be a manager, you will probably be required at some point to evaluate the potential of your direct reports for a succession planning process.  It is part of the “Managing People” risk of the Geek 5.

One common point of confusion for managers is the difference between performance and potential.  Many managers assume that is an employee is a superstar at her job then she will be great for bigger roles and promotions.  Sometimes that is true, but just as often it is not true.

Performance and potential are not the same concept. 

Performance looks at the quality and quantity of what was done in the past.  It measures behaviors and actions and accomplishment of goals.  Performance is measured during performance reviews.

Potential looks at what an associate is capable of doing in the future.  Employees with high potential are also generally good performers.  They are good at their current job, but they also have the ability and drive and skills to take on bigger roles and to be successful at higher levels.

Some employees do outstanding work in their current jobs, but are best suited for staying in that role.  They are high performers in performance reviews but correctly placed for succession planning. 

Here are some possible scenarios with different performance and potential.

PAT:  Pat does well in the current job.  Pat’s does not exhibit any of the skills or competencies needed for future roles.  Pat is like a “Professional in Position”. Pat earns a good performance review rating and gets a bonus and a merit increase. In succession planning, Pat is rated as Correctly Placed.  He is best suited for his current role.

CHRIS:  Chris does well in the current job.  Chris also shows some of the skills and competencies needed to work at a higher level.  For example, Chris shows the ability to learn new information and is often seen as a “go-to” person.  Chris earns a good performance review rating and gets a bonus and a merit increase. Chris shows long-term potential for promotion and is rated as Promotable in succession planning.  With development, Chris is expected to be ready in 1-3 years to move to a bigger role.

SAM: Sam was rated as Highly Promotable in previous succession planning.  Having strong potential and strong performance, Sam just got an exciting promotion into a challenging new role.  Sam earns a great performance review rating and gets a bonus and a merit increase. Sam is learning the new position and working to adapt key skills to the new role.  Although all signs indicate success in the future, Sam is rated in the current succession planning as Correctly Placed.  In the new role, Sam has some growth and learning to do.

In all of these scenarios, the employees were strong performers and they were rewarded during performance reviews.  However, they were rated differently in succession planning.

No Comments

The Mysteries of Succession Planning

Leadership, Managing people, Org savvy, Talent Management

I find that succession planning is often perceived in organizations as a mysterious and unknowable and threatening process. Employees know that it impacts promotions and career decisions, but they are not sure exactly how. What magic happens in succession planning?

Over the next few posts, I’m going to pull back the curtain and reveal some truths about succession planning – what it is, how it typically works, what you might be expected to do as a leader of people and how you can position yourself positively for the process. This relates to the Geek 5 in terms of actions you may need to take as a leader and a manager. It also relates to your own organizational savvy and career growth.

Succession planning is a key talent management process – especially at larger organization. Each company executes it differently, but it usually follow some basic assumptions and goals.

Succession planning is intended to:

  • identify a pipeline of talent for key positions and create a bench chart
  • discuss the identification of high potentials, with a focus on development needs and possible actions
  • discuss the career potential, performance, and development needs of targeted individuals

Succession planning is about getting people ready for bigger and more critical roles in the organization. It is about risk management. The company needs to make sure that there are employees ready to fill in if a key person leaves or if there is growth and new roles open up. The company wants to have a group of employees who are well-trained and ready to take on expanded roles. Succession planning is about finding those people, setting plans to work on skills gaps, tracking them and getting them ready for when they are needed.

A pipeline of talent refers to the need to think about talent at all levels in the company. For instance, you can’t just focus on successors for one key role. Because if you move a successor into that role, then you need to backfill the old role. You need to know which employees are ready for that.

A bench chart is a document that actually lists positions and indicates who would be considered a successor for that role. Sometimes positions have multiple people listed on the bench chart as potential successors. Some of them might be “Ready Now” for the role and some might be ready in 1 or 2 or 3 years.

If a position comes open, the leadership team can use succession planning information like the bench chart and determine if there is a good internal candidate ready for the role. If so, it is a much easier and cheaper transition than hiring someone from the outside.

In the next post, we’ll talk about succession planning ratings (such as high potential) and explain the difference between performance and potential.

No Comments