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Succession Planning: Developing and Retaining
Your BestPresented by: Victor Assad
CREDIT QUESTIONS TOPIC
HOUSEKEEPING
The use of this seal confirms that this activity has met HR Certification Institute's® (HRCI®) criteria for recertification credit pre-approval.
Recertification Credit Hours Awarded: 1 Specified Credit Hours: HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™, SPHRi™ recertification through HR Certification Institute's® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
Recertification Credit Hours Awarded: 1 Specified Credit Hours: HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™, SPHRi™ recertification through HR Certification Institute's® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
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Victor Assad is a Managing Partner of InnovationOne and the CEO of Victor Assad Strategic Human Resources Consulting.
With over 25 years of experience, Victor has been an active member of executive business teams and leader of human resources organizations in fast growth, high-technology, global businesses with Honeywell and Medtronic.
Masters of Arts degree in human resources and industrial relations from the University of Minnesota. Executive certificates from Harvard and Kellogg.
Today’s Presenter
Victor Assad
1. The empirical research behind identifying the best
2. How to set up an ongoing process for succession
planning
3. The tools you will need
4. How to make it relevant for your organization
5. How to succeed
What You Will Learn
Succession Planning Defined
Talent & Capability Strategy
Business VisionMission & PurposeCultureBusiness StrategyCustomer Feedback
Organization & Workforce Analytics
Surveys & Sensing SessionsDemographicsCompetenciesModels, Measures, MetricsArtificial Intelligence
Talent & CapabilityStrategy
Employer Branding & Recruiting
InnovationCulture
Org. Learning &Capability to Change
Leadership & Succession Planning
Results Aligned &
engaged employees
Successful strategy execution
Improved performance
Improved returns to shareholders
Measure and Monitor
Performance Management
& Rewards
External EnvironmentLaws & RegulationsWorkforce
• Employment seekers• Contingent/Platforms
AI & Digital Technology
Only 54% of Boards are grooming a specific CEO successor*
39% have no viable candidate to replace the CEOs*
Up to 40% of new CEOs fail to meet performance expectations in the first 18 months.**
Certain firms are “CEO Factories”: GE, P&G, and IBM
What are they taught:• Good general management practices
• Lead across various industries and functions.*David F. Larker and Stephen A. Miles (June 2010), “2010 CEO Succession Planning Survey, Heidrick and Struggles and Stanford University
**Eban Harrell (Dec. 2016), “Succession Planning: What the Research Shays,” Harvard Business Review
Poorly deployed process
Certain firms are “CEO Factories”: GE, P&G, and IBM*
What they are taught:• Good general management practices
• How to inspire and lead teams.
• Persistence
• Operating mechanisms
• Lead across various industries and functions
• Tend to implement what has worked for them • Raises questions about leading in new industries/circumstances
*Ye Cai, et. al, June 8, 2015), “Are They Different? CEOS Made in CEO Factories,” Leavey School of Business, Santa Clara University
CEO Factories
High Potential vs. High Performance
• How do you define potential?
• Competencies by leadership/technical level
• Problem of “culture fit”
• Problem of “unconscious bias”
• Stability vs. need for speed, adaptability, and innovation
• The increasing perceived importance of outsiders
• Business context: industry, start up, turn around, restructuring, growing existing business
What to stop doing? What skill do you learn?
*Ram Charan (2012) Leadership Pipeline
Six Leadership Passages*
Succession Planning Begins with 1st Passage
Begins with 1st level management & technical talent
• Defined competencies
• Ongoing learning and challenging assignments
• Career development
• Mentors
• Retains your best
Foundational Dimensions: Most stable consistent components
Growth Dimensions: Facilitate or hinder growth
Career Dimensions: Early indicators of later career skills
Three Components of Potential
Foundational Dimensions: Mostly stable consistent components Cognitive
Conceptual or strategic thinking
Cognitive abilities (Not genius!)
Dealing with complexity/ambiguity
Personality & Emotional Intelligence
Interpersonal skills, sociability
Dominance
Emotional stability, resilience
*Rob Silzer and Allan H. Church, “The Pearls and Perils of Identifying Potential,” Industrial and Organizational Psychology, 2 (2009), pp 377-412.
Three Components of Potential*
Growth Dimensions: Facilitate or hinder growthLearning
Adaptability
Learning orientation
Openness to feedback
Motivation
Drive, energy, achievement, resiliency
Career ambition
Risk taking, results orientation
*Rob Silzer and Allan H. Church, “The Pearls and Perils of Identifying Potential,” Industrial and Organizational Psychology, 2 (2009), pp 377-412.
Three Components of Potential*
Career Dimensions: Early indicators of later career skillsLeadership
Leadership capabilities, managing people
Developing others
Influencing, challenging status quo, change
Performance
Performance record—career relevant
Career experiences
Knowledge and values
Technical/functional skills and knowledge
Cultural fit—career relevant values and norms. Be careful!*Rob Silzer and Allan H. Church, “The Pearls and Perils of Identifying Potential,” Industrial and Organizational Psychology, 2 (2009), pp 377-412.
Three Components of Potential*
What companies do to develop high potentials
Potential in organizations is qualified as follows:
1. By Role: Ability to rise to CEO, business leader, or top functional role
2. By Level: Two levels above current role
3. By Breadth: Broader scope and leadership
4. By Technical Competence
Rob Silzer and Allan H. Church, “The Pearls and Perils of Identifying Potential,” Industrial and Organizational Psychology, 2 (2009), pp 377-412
How to make it relevant in your company?
Tools You Will Need
Involve relevant stakeholders• Certainly the Board
• Relevant funders
Robust talent management process
Use relevant and predictive tools
Start early
How to succeed?
Enter your questions into the “Questions”
section of the GoToWebinar panel on your computer screen
QUESTIONS
The use of this seal confirms that this activity has met HR Certification Institute's® (HRCI®) criteria for recertification credit pre-approval.
Recertification Credit Hours Awarded: 1 Specified Credit Hours: HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™, SPHRi™ recertification through HR Certification Institute's® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
Recertification Credit Hours Awarded: 1 Specified Credit Hours: HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™, SPHRi™ recertification through HR Certification Institute's® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
Be watching using YOUR
unique URL for login
Stay on the webinar, online for the full 60
minutes.
Certificates delivered by
email no later
HOUSEKEEPING
than 12/1/17
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