Succession Management for the 21st Century
HRCI Category: Business | Credits: 3 | 40
You will receive HRCI recertification credits AND SHRM PDC’s
If organizations are to achieve their business goals and attain lasting success, they need qualified, capable leaders at the helm. Now and for the foreseeable future, demand for leadership talent far outstrips the supply. To ensure a full pipeline of candidates who are trained and ready to assume leadership positions, companies must have an effective succession management process in place.
The Corporate Leadership Council estimates that about 50% of promotions fail. How can we improve upon those numbers? By understanding that traditional succession planning may no longer be appropriate for the current environment, and identifying and implementing new methods that will give your succession planning process more meaning.
Succession management is the process of identifying those jobs considered to be at the core of the organization– too critical to be left vacant or filled by any but the best qualified persons—and then creating a strategic plan to fill them with experienced and capable employees. Effective succession management enables companies to react quickly to change and endure difficult times. At its best, succession management allows a company to seamlessly merge its employees’ capabilities and career aspirations with the company’s business strategy and talent needs.
In this course we will outline the business case for succession management, give you 10 strategies to ensure the success of your efforts, and give you the framework and tools for developing your own succession strategy.
After completing this course, you will be able to:
- Evaluate organizational readiness and overcome barriers to implementing a succession management process.
- Segment your succession management process into three key segments that mitigate both short and long term business risks
- Integrate your succession management process into the broader organizational strategy so that it aligns and supports corporate goals and objectives.
Participants will receive valuable tools:
- Issues to Consider in Developing your Blueprint for Action
- Sample Succession Planning Policy
- Succession-Development Strategy Tool
- Worksheet to Identify Alternative Approaches to Meet Succession Needs