StrategyDriven » Succession & Succession Planning

Recommended Resource – The Executive Guide to High-Impact Talent Management

StrategyDriven — Thu, 03 Nov 2011 11:16:15 +0000

The Executive Guide to High-Impact Talent Management: Powerful Tools for Leveraging a Changing Workforce
by David DeLong and Steve Trautman

About the Reference

The Executive Guide to High-Impact Talent Management: Powerful Tools for Leveraging a Changing Workforce by David DeLong and Steve Trautman provides a complete talent management program blueprint covering:

Diagnosis of talent related organizational risks
Evaluation and measurement of talent management initiatives
Acceleration of leadership development
Transference of individual and organizational knowledge

This blueprint provides the details needed to institute each of these programs and achieve real, measurable results.

Benefits of Using this Reference

StrategyDriven Contributors like The Executive Guide to High-Impact Talent Management because the blueprint provided is implementable, actionable, and based on many of the practices endorsed by StrategyDriven. These practices focus on continuous programmatic assessment and performance measurement to drive superior results. If we had one criticism of the book it would be that the solutions presented appear too academic and unaltered by the realities of the business world.

The Executive Guide to High-Impact Talent Management provides a thorough, implementable talent management program based on sound principles of accountability; making it a StrategyDriven recommended read.

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Recommended Resource – The Talent Masters: Why smart leaders put people before numbers

StrategyDriven — Wed, 19 Oct 2011 11:26:14 +0000

The Talent Masters: Why Smart Leaders Put People Before Numbers
by Bill Conaty and Ram Charan

About the Reference

The Talent Masters: Why Smart Leaders Put People Before Numbers by Bill Conaty and Ram Charan provides unprecedented insight to the people development programs of several legendary organizations including General Electric, Proctor & Gamble, and Novartis. Conaty and Charan illustrate in great detail the specific programs these organizations use to develop talent and plan for and execute on succession plans; including the behind-the-scenes consideration of organizational, cultural, and operational impacts such changes incur. They also share their experience-based insights on the critical personal traits and organizational supports needed for succeeding leaders to excel in their new positions.

Benefits of Using this Reference

StrategyDriven Contributors like The Talent Masters because of its in-depth, behind-the-scenes insights to the talent management practices of globally recognized ‘leadership factories.’ Many case studies highlight the mechanics of these organizations’ programs but Conaty and Charan present the intimate executive discussions and thought processes on personnel development and succession that only insiders possess. This book captures the nuance of thought that makes these processes work so well at creating some of the world’s most sought after leaders.

The in-depth real-world business experience of leading companies presented in The Talent Masters makes this book on personnel development a StrategyDriven recommended read.

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StrategyDriven Podcast Special Edition 52b – An Interview with Ken Ball and Gina Gotsill, co-authors of Surviving the Baby Boomer Exodus, part 2 of 2

StrategyDriven — Tue, 23 Nov 2010 16:10:02 +0000

StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website.

Special Edition 52b – An Interview with Ken Ball and Gina Gotsill, co-authors of Surviving the Baby Boomer Exodus, part 2 of 2 explores methods for effectively capturing, retaining, and transferring the knowledge of departing workers thereby enabling those who remain to continue to use this hard-won information to the benefit of the organization. During our discussion, Ken Ball and Gina Gotsill, co-authors of Surviving the Baby Boomer Exodus: Capturing Knowledge for Gen X and Y Employees, share with us their insights and illustrative examples regarding:

the characteristics of a good knowledge retention program
how to identify those individuals whose knowledge should be captured and retained
how to identify when someone is likely to retire, including the legal and ethical restrictions surrounding such activities
overcoming employees’ fear of personal value loss when sharing their hard-won knowledge
actions leaders should take to ensure captured knowledge reaches those who need it in a way and at a time that makes it useful to them
how a knowledge retention program’s return on investment and overall programmatic success can be measured

Additional Information

Ken and Gina’s book, Surviving the Baby Boomer Exodus: Capturing Knowledge for Gen X and Y Employees (Course Technology PTR, Cengage Learning 2010), can be purchased by clicking here.

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About the Author

Ken Ball is a Baby Boomer and has been tracking issues relating to aging in the workplace for several years. At TechProse, he drives business development for the consulting firm that specializes in knowledge/content management, training, and documentation for major U.S. clients. He has more than 30 years of experience in corporate sales and marketing, including years in book publishing business, working for IDG Books, publishers of the …For Dummies computer and general reference books. He has a marketing communications degree from Bradley University.

Gina Gotsill is a Gen X writer who has studied journalism at San Francisco State University and University of California, Berkeley. She is also a fellow of the Poynter Institute, a journalism think tank based in St. Petersburg, Florida. Gina has covered a wide range of business topics that include keeping Boomer skills in the workplace, teaching finance to non-finance professionals, and growth and change in urban and suburban business clients.

For more information about Ken Ball and Gina Gotsill and Surviving the Baby Boomer Exodus (Course Technology PTR, Cengage Learning 2010), please visit their website www.survivingtheboomerexodus.com.

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StrategyDriven Podcast Special Edition 52a – An Interview with Ken Ball and Gina Gotsill, co-authors of Surviving the Baby Boomer Exodus, part 1 of 2

StrategyDriven — Thu, 18 Nov 2010 11:05:33 +0000

Special Edition 52a – An Interview with Ken Ball and Gina Gotsill, co-authors of Surviving the Baby Boomer Exodus, part 1 of 2 explores methods for effectively capturing, retaining, and transferring the knowledge of departing workers thereby enabling those who remain to continue to use this hard-won information to the benefit of the organization. During our discussion, Ken Ball and Gina Gotsill, co-authors of Surviving the Baby Boomer Exodus: Capturing Knowledge for Gen X and Y Employees, share with us their insights and illustrative examples regarding:

the defining characteristics of Baby Boomers, Gen Xers, and Millennials
why the retirement of Baby Boomers is of particular concern with respect to organizational knowledge retention and which industries are at the greatest risk of knowledge loss
the direct and ancillary benefits of knowledge retention programs

Additional Information

Ken and Gina’s book, Surviving the Baby Boomer Exodus: Capturing Knowledge for Gen X and Y Employees (Course Technology PTR, Cengage Learning 2010), can be purchased by clicking here.

Final Request…

About the Author

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The Boomers are Leaving! – How to Create and Implement a Knowledge Transfer Program, part 2

StrategyDriven — Wed, 17 Nov 2010 11:18:36 +0000

Now that you’ve looked at your workforce (in The Boomers are Leaving! – How to Create and Implement a Knowledge Transfer Program, part 1), you’re ready to design and develop a program that retains Baby Boomers’ knowledge. But your program should do more than just capture and transfer valuable knowledge – it should also sow the seeds of a knowledge culture in the organization. More on that later. For now, let’s look at the four phases that will follow the organizational analysis you read about in Part 1. Like rungs on a ladder, each phase builds on the next, so it’s important that you consider each step as you create your knowledge retention program.

Surviving the Baby Boomer Exodus: Capturing Knowledge for Gen X and Y Employees (Course Technology PTR, Cengage Learning 2010)
by Ken Ball and Gina Gotsill

There are managers who can’t bear the thought of losing longtime, skilled employees due to the “brain drain,” yet it is occurring as experienced Baby Boomers retire and take with them their practical knowledge and business acumen. Despite the media coverage of Boomers and how a tidal wave of retirements could impact business, many senior managers are kicking the can down the road, putting off the job of creating a system and process for capturing knowledge. Keeping this a low priority could lead to a great deal of deep, tacit knowledge walking out the door, maybe for good. Manager can avoid this by taking some steps now to prepare for the day when key workers leave. These steps are outlined in Surviving the Baby Boomer Exodus.

This book provides a practical guide for capturing valuable knowledge, skills, and experience so it can be shared among employees of all the generations in the workplace. It examines methods for assessing a company’s knowledge gaps, creating a knowledge transfer plan, and nurturing a culture that encourages knowledge sharing and collaboration. Inside you’ll find scenarios, case studies, tips, templates, and checklists that will help you capture and retain your company’s intellectual capital as Baby Boomers leave the workplace.

Design: During the design phase, you’ll use the workforce data you collected and focus on who holds the knowledge, the recipient, the knowledge you want to capture, and the method you want to use. Some knowledge transfer methods to consider are mentoring, social networks, Communities of Practice, After Action Reviews, and storytelling programs. From this point on, it is critical that you follow the needs of your audience. Regularly ask yourself these questions:

Who will receive the knowledge?
What are their preferences?
What knowledge do they need to succeed in the organization?

During the design phase you will also establish the goals and objectives of your program. An example of a goal for a mentoring program could be that mentees will be more confident and knowledgeable when interacting with clients. An objective, on the other hand, should be measurable. An example of an objective for your mentoring program could be that after the first three months, a mentee will be able to complete a critical task in half as much time as they did before being mentored.

Development: During development, you will create all the materials you’ll use for your program, which could include sign-in sheets, handouts, check lists, templates, and websites. Before you launch the program in a big way, we recommend you test drive it with a small group of representative users first. While many organizations roll out their programs without a pilot, our experience has shown that this can backfire. Pilots give you the opportunity to test – and tweak – elements of your program while it’s early. This increases your chance of meeting the goals and objectives you noted during the design phase. We recommend you pilot each element of your program, from the sign-in sheet to the evaluation form to the website where participants enroll in the program.

Implementation: You’ve designed your program, tested it, and now it’s ready for prime time. Make sure you have a project manager in place to mind the details and ensure the program doesn’t veer off course. While it may be tempting to launch your program and move on to other tasks, remember that successful programs require maintenance and attention.

Evaluation: Managers who skip the evaluation phase may discover their program loses relevance if they don’t check in from time to time. To keep your program humming along, look at it from many different angles at regular intervals. Quantitative measures, such as attrition data, employee performance data, and program attendance rates give you the numbers you may need to defend your program to executives. And qualitative data, such as customer comments and user surveys, provide anecdotal information that helps you paint a more complete picture.

Now what? Your knowledge retention program has helped you prepare for the inevitable day when experienced Boomer workers begin to step away. But you’ve also set the foundation of a knowledge culture, where every member of the team contributes what they know for the benefit of the organization. Now that your program is off the ground, you must nurture this new culture – experienced workers, whether Boomer or Gen X or Y, leave the organization every day. Nurturing a culture that is more collaborative can help make knowledge transfer a part of how your organization runs. This is a good thing! All you need is a plan…

About the Authors

For more information about Ball and Gotsill and Surviving the Baby Boomer Exodus (Course Technology PTR, Cengage Learning 2010), please visit their website www.survivingtheboomerexodus.com.

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The Boomers are Leaving! – How to Create and Implement a Knowledge Transfer Program, part 1

StrategyDriven — Wed, 10 Nov 2010 11:11:46 +0000

The clock is ticking: next year, in 2011, the oldest of the 76 million Baby Boomers turn 65. While that has long been considered traditional retirement age, Boomers are known for bucking the system. Many will decide to stay in the workforce and replenish their savings and retirement accounts. But when they do leave, they will take with them years of institutional knowledge acquired on the job.

Surviving the Baby Boomer Exodus: Capturing Knowledge for Gen X and Y Employees (Course Technology PTR, Cengage Learning 2010)
by Ken Ball and Gina Gotsill

Workplace demographics paint a startling picture: Almost 40 percent of the U.S. workforce is between 45 and 64. Many business leaders are beginning to ask some tough questions: who will replace Boomers when they leave? Will younger workers have the knowledge and skills to run our organizations when they do? Companies in many industries stand to lose significant numbers of highly skilled, tenured workers. But that’s not all they’ll lose. After years on the job, Boomers have developed deep, often intuitive knowledge about their company’s way of doing business and the relationships that have made them successful – and much of that could be lost as they walk out the door.

You may find yourself reading this and saying, “So what?” The world of business has changed since Boomers appeared on the stage as self-assured, optimistic employees and managers. Technology has exploded, giving us instant access to information and knowledge, and it all moves and changes so fast that some of what Boomers have learned during their careers may be obsolete. Still, there are potentially alarming downsides when essential employees leave.

Consider this: a survey of America’s utilities (your local gas and electric company) found that 40 to 50 percent of workers in key positions will become eligible to retire or are expected to leave in the next five years. Some industry experts believe there won’t be enough qualified workers to run our utilities, which could threaten the industry’s ability to provide safe, stable, and reliable power.

What’s a manager or executive to do? Start by taking small bites of the problem and build a knowledge retention program that is sensible to initiate and paves the way for quick successes that will encourage senior management sponsorship. Assemble some preliminary data:

What are the demographics of your organization?
What are your employees’ retirement plans?
How do your organization’s strategic and operational goals inform what work roles will be needed in the future? Who will do this work?
What skill competencies are required to remain competitive and how do these map to critical roles and specific employees in those roles?
What is the historic attrition and turnover rate and how do these map to the skills that keep you competitive?

Once you’ve gathered this data, you can begin to assess the gaps that you might see in your workforce as longtime employees and managers step away. This is also an excellent time to begin planting the seeds of a knowledge culture – an environment where every member of the team enthusiastically shares what they know for the benefit of the organization. While impending Boomer retirements represent the immediate issue, developing a knowledge culture is a best practice that serves an organization well when any employee leaves.

About the Authors

For more information about Ball and Gotsill and Surviving the Baby Boomer Exodus (Course Technology PTR, Cengage Learning 2010), please visit their website www.survivingtheboomerexodus.com.

You just finished reading The Boomers are Leaving! - How to Create and Implement a Knowledge Transfer Program, part 1! Consider leaving a comment!

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Succession and Succession Planning Best Practice 3 – Continuing Education

StrategyDriven — Tue, 02 Mar 2010 11:45:16 +0000

It is simply not enough that individuals holding senior positions be highly experienced. The narrowness of early career positions and the limitations of time necessarily prevents an individual from being deeply experienced across the full range of functions within the organization. Thus, those relying purely on experience often lack an understanding of the broader spectrum of organization functions and opportunities that would help them be more successful in senior positions requiring multidimensional business understanding.

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Succession and Succession Planning Best Practice 2 – Rotational Development Plans

StrategyDriven — Tue, 12 Jan 2010 11:51:59 +0000

Integral to every succession plan is the ready supply of qualified talent to replace outgoing position holders. While some talent will come from outside the organization, many should come from within.

More senior positions within every organization necessarily demand an increasingly expansive knowledge and experience base commensurate with the role’s span of control. For truly senior positions, the needed knowledge and experience becomes multidimensional; covering several functional areas. In order for internal succession candidates to be successful, they need to gain this multidisciplinary knowledge and experience earlier in their careers. One way to accomplish this for those growing up within the organization is through rotational assignments.

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Succession and Succession Planning – Introduction

StrategyDriven — Tue, 01 Sep 2009 12:47:34 +0000

Advancement, transfer, retirement, resignation, and termination are all causes of position vacancies. Regardless of the reason for or timing of a position opening, the organization must continue to function through the subsequent transition. Organizations proactively positioning themselves for personnel changes maintain a higher degree of business continuity; realizing a shallower and shorter productivity dip and pursuing performance improvement more rapidly.

Effective succession and succession planning processes enable smooth transitions of power and operational continuity. Performed well, these processes help ensure the proactive identification and development of an adequate number of candidates to fill potential vacancies, careful selection of the right replacement, thorough preparation of the selectee for his or her new role and organization members to well receive the successor, and advanced provisions to support the entrant with the post transition coaching needed for their and the organization’s success.

Focus of the Succession and Succession Planning Topic

Articles in this topic are dedicated to discussing the leading practices of companies that successfully execute succession and succession planning processes; maximizing the new entrant’s probability of success and the organization’s operational continuity. The following articles, podcasts, documents, and resources cover those topics critical to effective leadership succession.

Articles

Best Practices

Best Practice – Turnover Checklists [StrategyDriven Premium Content]
Best Practice – Rotational Development Plans [StrategyDriven Premium Content]
Best Practice – Continuing Education [StrategyDriven Premium Content]

StrategyDriven Expert Contributor Articles

The Boomers are Leaving! – How to Create and Implement a Knowledge Transfer Program, part 1 by Ken Ball and Gina Gotsill
The Boomers are Leaving! – How to Create and Implement a Knowledge Transfer Program, part 2 by Ken Ball and Gina Gotsill

StrategyDriven Podcasts

StrategyDriven Podcast – Special Edition

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Succession and Succession Planning Best Practice 1 – Turnover Checklists

StrategyDriven — Wed, 26 Aug 2009 00:54:46 +0000

Every position in any company will necessarily be different than even the same position within any other organization. These differences stem from the unique organizational personnel, policies, culture, and marketplace positioning and environment. To be best prepared to assume his or her new role, a successor must have a thorough understanding of all of the position’s critical success factors, drivers, and influencers. Turnover checklists leverage the collective experiences of past position holders to help ensure successors receive all of this vital area knowledge.

Turnover checklists represent a powerful transition tool because of knowledge conveyance they support. Founded on the experiences of past position holders, turnover checklists necessarily support transfer that hard won knowledge to the newcomer; knowledge beyond those core data points generally needed by all leaders. While not an all inclusive list, turnover checklists should in general contain information on the following topics:

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StrategyDriven Podcast Special Edition 12 – An Interview with Nat Stoddard, author of The Right Leader

StrategyDriven — Thu, 16 Apr 2009 06:26:41 +0000

StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website.

Special Edition 12 – An Interview with Nat Stoddard, author of The Right Leader explores the challenges and solutions to selecting executives who possess the needed skills and experiences while also being a good fit with the organization’s culture. During our discussion, Nat Stoddard, author of The Right Leader: Selecting Executives Who Fit and Chairman of Crenshaw Associates, shares with us his insights regarding:

importance of an effective executive transition and gaps in the contemporary selection process
why hiring organizations should identify actions a new executive needs to take in addition to results to be achieved
impact of culture alignment between the organization and new executive on the transition’s success
steps the hiring organization should take to prepare for and execute a more effective executive selection and transition

Additional Information

Complimenting the invaluable insights Nat shares in The Right Leader and this special edition podcast are the additional resources accessible from his website, The Right Leader (www.TheRightLeader.com). Nat’s book, The Right Leader, can be purchased by clicking here.

Final Request…

The strength of our community grows with the additional insights brought by our expanding member base. Please consider voting for us on Podcast Alley by clicking here. Casting your vote for the StrategyDriven Podcast improves our ranking and helps us attract new listeners which, in turn, helps us grow our community.

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Nat Stoddard, author of The Right Leader, is Chairman of Crenshaw Associates, a New York-based consulting firm specializing in career and transition management for senior executives. Nat is the former CEO of World Kitchen, a leading kitchen products manufacturer and former Chairman, President, and CEO of GE’s Canadian appliance affiliate Camco, Incorporated. To read Nat’s full biography, click here.

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StrategyDriven Podcast Special Edition 11 – An Interview with Marshall Goldsmith, author of Succession

StrategyDriven — Fri, 03 Apr 2009 03:28:55 +0000

StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag posts on the StrategyDriven website.

Special Edition 11 – An Interview with Marshall Goldsmith, author of Succession explores the personal issues that arise during executive succession and how to overcome them; achieving a positive outcome for the departing leader, the successor, and the organization. During our discussion, Marshall Goldsmith, author of Succession: Are You Ready? and co-founder of Marshall Goldsmith Partners, shares with us his insights regarding:

characteristics of a successful executive transition
reasons executives struggle with the succession process
benefits and focus of coaching for the successor and senior leadership team
examples of successful executive turnovers

Additional Information

Complimenting the tremendous insights Marshall shares in Succession and this special edition podcast are the additional resources accessible from his website, Marshall Goldsmith Library (www.MarshallGoldsmithLibrary.com). Marshall’s book, Succession, can be purchased by clicking here.

Final Request…

The strength of our community grows with the additional insights brought by our expanding member base. Please consider voting for us on Podcast Alley by clicking here. Casting your vote for the StrategyDriven Podcast improves our ranking and helps us attract new listeners which, in turn, helps us grow our community.

Thank you again for listening to the StrategyDriven Podcast!

Marshall Goldsmith, author of Succession, is co-founder of Marshall Goldsmith Partners, an executive coaching firm dedicated to developing business leaders. Dr. Goldsmith is recognized as a leading authority in helping leaders achieve positive, lasting behavioral change for themselves, their people, and their teams. He has coached scores of top executives in major corporations and wrote the number one best seller, What Got You Here Won’t Get You There. In 2006, Alliant International University recognized Dr. Goldsmith’s achievements by naming its schools of business and organizational psychology the Marshall Goldsmith School of Management. To read Marshall’s full biography, click here.

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