SUCCESSION PLANNING PRESENTATION MBA presentation 1

SUCCESSION PLANNING AGENDA Succession Planning Presentation Overview What & Why Succession Planning Q&A Benefits of Succession Planning Key Success Factor Presentation Overview Create a clear definition of Succession Planning Understand why Succession Planning is important Understand how Succession Planning impacts you Overview a clear and effective Succession Planning process What is Succession Planning Succession Planning is a process of identifying, developing and transitioning potential successors for the companies present and future key roles, aligned with the talent and ambitions of its current employees and talent network An example of replacement chart Leadership Potential Succession Planning Grid High Leadership Potential/ Low Performance High Leadership Potential/High Performance Low Leadership Potential/ Low Performance Low Leadership Potential/High Performance Current Performance Career Development Planning Individual Development Plan (IDP) Example at PV Drilling Apple Siemens "The Siemens Leadership Framework is a big step forward in establishing a culture of inclusiveness that empowers employees to realize their full potential We now use one common language worldwide for all key Human Resources processes This makes evaluations of Performance, Potential and Expertise comparable throughout Siemens." (Peter Löscher, Chairman) GE GE’s Session C aims to review performance, identify rising talent, have a crosscalibration of talent across the organisation and plan for the succession planning or leadership development actions Individual Resume and Self Assessment Chronological InDepth structured Interviews Performance Appraisal Latest Career Potential Assessment Complete one page Resume- Career History, Skills and Development needs  Show ideal next moves, as discussed with Associates Manager  Examine key accomplishments, failures, mistakes  Assessment and Development report generated  Completed by direct managers  Includes Associate’s reactions to the assessment, 360° feedback  A manager two levels above the reviewed individual formulates and assessment of the potential  Effective Succession Planning: Key Elements Assessment of Key Positions Top Management, Function Management & HR Monitoring & Review Identification of Key Talent Key Elements Top Management, Function Management & HR Development of Action Plans Top Management, Function Management & HR Top Management, Function Management & HR Assessment of Key Talent Leadership potential, skills, knowledge, attitude & ambition 11 2.Why Succession Planning To ensure the long-term stability, continuity and sustainability of PVD-DD To optimize PVD-DD’s ability to attract and retain talented people To create a strategy for developing ‘high potential’ leaders and managers To create opportunities for team members who want to embrace leadership role One of the most important actions leaders take is the development of their subordinates—leaders must ensure there is always someone ready to take their place 12 Benefits of Succession Planning Attract, retain retain Attract, (minimize turnover) turnover) (minimize and develop develop the the best best and Reduce costs costs ((by by Reduce people people reducing turnover turnover and and reducing Invest your your limited limited Invest recruitment expense, while recruitment expense, while developmental developmental ensuring you you have have aa strong, strong, ensuring qualified ‘bench’), ‘bench’), qualified resources wisely wisely resources Increase Value Value EFFECTIVE EFFECTIVE Increase SUCCESSION SUCCESSION Operate most most Operate efficiently, effectively effectively efficiently, and productively productively and PLANNING PLANNING Optimize Leadership Leadership & & Optimize Managerial Managerial Effectiveness Effectiveness Aligns People People and and Aligns Business Strategy Strategy Business 13 KEY SUCCESS FACTORS Clear Program Goals Senior LeaderEmployee Commitment Commitment to learn 14 For 04 Learning Methods On-The-Job Experiences Ment oring or Coaching 55-65% 25-30% Training or Cont inu Educat ion Mot ivat ed SelfDevelopment Picture for illustration purpose only 15 Choosing to be PROACTIVE vs REACTIVE Thank You! 16 ...AGENDA Succession Planning Presentation Overview What & Why Succession Planning Q&A Benefits of Succession Planning Key Success Factor Presentation Overview Create a clear definition of Succession. .. Succession Planning Understand why Succession Planning is important Understand how Succession Planning impacts you Overview a clear and effective Succession Planning process What is Succession Planning. .. Assessment of Key Talent Leadership potential, skills, knowledge, attitude & ambition 11 2.Why Succession Planning To ensure the long-term stability, continuity and sustainability of PVD-DD To