Effective Succession Planning: Ensuring Leadership Continuity and Building Talent from Within / Edition 4

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Overview

Let’s say tomorrow morning your most valuable executive announced that she was leaving to accept a similar position elsewhere. What if you had to cope with the loss of certain key members of the management team you’ve come to rely on? Are there certain technical or specialized positions at your company with only one person who knows how to do them? Is your organization prepared for the loss of your most crucial players? In short: Do you have a rock-solid succession plan in place?

The most comprehensive and authoritative book on the subject, now updated and expanded to reflect the latest trends and best practices, the fourth edition of Effective Succession Planning provides you with the tools and guidance you need to revamp your succession strategy, create and put in place a new one, and arm yourself against the trauma of personnel shakeups…all without missing a beat.

Praise for Previous Editions of Effective Succession Planning:

“...A valuable resource.” — HR Professional

“If you’re leading the succession planning charge in your company, you can find most anything you need to know in this book.” — Training magazine

“Rothwell, through his aggressive research and a systematic approach to succession planning, has developed a guide for today’s leaders and HR managers on how to be prepared to deal with changes in key human capital.” — Patrick E. Gerity, Ph.D., Executive Director, State System University Center for Southwest Pennsylvania

“This book is practical, readable, and highly useful to anyone seeking long-term solutions to the succession planning dilemma.” — Stephen B. King, Ph.D., Executive Director, Leadership and Management Development, Management Concepts

“Dr. Rothwell brings the practices of succession planning into the fifth generation in this new book. Practitioners and others who are faced with planning and implementing state-of-the-art succession planning programs in organizations will find this to be a must-have resource.” — David D. Dubois, Ph.D., President, DuBois & Associates, and author of Competency-Based Performance Improvement

“Rothwell brings succession planning into proper perspective for organizations. From an in-depth strategic viewpoint to an operational, applications-based approach, the author has captured and delivered a compre­hensive approach to succession planning.” — Dr. Robert K. Prescott, SPHR, Director, Management Development Institute, Eckerd College, affiliate of the Center for Creative Leadership

“This book equipped me with the skill set I needed to create and implement an effective succession plan for my organization. I found the activities and practical guides and tips extremely helpful for making my succession planning initiative a reality. This will make a huge difference in our ability to retain and develop our employees.” — Marsha King, Ph.D., Senior Management Development Consultant, Capital One Financial

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Product Details

  • ISBN-13: 9780814414163
  • Publisher: AMACOM
  • Publication date: 4/28/2010
  • Edition description: Fourth Edition
  • Edition number: 4
  • Pages: 448
  • Sales rank: 463,356
  • Product dimensions: 7.40 (w) x 10.00 (h) x 2.00 (d)

Meet the Author

WILLIAM J. ROTHWELL (State College, PA) is Professor of Workplace Learning and Performance at Pennsylvania State University and President of Rothwell & Associates, a business consultancy with more than 35 multinational clients in the private, public, nonprofit, and government sectors.

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Read an Excerpt

Preface to the Fourth Edition

The world moves faster than ever. Since the third edition of this book, many changes

have occurred to shape succession planning and management as well as the related

field of talent management. Just consider the changes:

In the World

▪ The Recession of 2007 and Beyond: As this edition goes to press, unemployment

in the United States has exceeded 9 percent, and the United Nations projects

that the global unemployment rate could climb higher than 6.1 percent. As a

result, some business leaders question whether the time and money devoted

to succession planning and talent management are worth it when layoffs are

increasing.

▪ The Lingering Aftereffects and Legacy of 9/11: When the World Trade Center

collapsed, 172 corporate vice presidents lost their lives. That tragic event reinforced

the message, earlier foreshadowed by the tragic loss of life in Oklahoma

City, Oklahoma, that life is fragile and that talent at all levels is increasingly at

risk in a world where disaster can strike unexpectedly. In a move that would

have been unthinkable ten years ago, some organizations are examining their

bench strength in locations other than their headquarters in New York City,

Washington, or other cities that might be prone to attack if terrorists should

wipe out a whole city through the use of a dirty nuclear weapon or other

chemical or biological agent. Could the organization pick up the pieces and

continue functioning without headquarters? That awful, but necessary, question

is on the minds of some corporate and government leaders today. (In

fact, one client of mine has set a goal of making a European capital the alternative

corporate headquarters, with a view toward having headquarters completely

reestablished in Europe within 24 hours of the total loss of the New

York City headquarters, if disaster should strike.)

▪ The Aftereffects of Many Corporate Scandals: Ethics, morality, and values have

never been more prominent than they are today. The Bernard Madoff scandal

followed on the heels of earlier scandals affecting numerous Wall Street firms

and, years before that, Enron, Global Crossing, and WorldCom. Many business

leaders have recognized that ethics, morality, and values do matter. Corporate

boards have gotten more involved in succession planning and

management owing in part to the requirements of the Sarbanes-Oxley Act and

to the recognition that many senior corporate leaders are at or beyond the

traditional retirement age. And corporate leaders, thinking about succession,

realize that future leaders must model the behaviors they want others to exhibit

and must avoid practices that give even the mere appearance of impropriety.

And yet some CEOs receive large performance bonuses even when they

lead their firms into bankruptcy.

▪ Growing Recognition of the Aging Workforce: Everyone is still talking about the

demographic changes sweeping the working world in the United States and in

the other G8 nations. Some organizations have already felt the effects of talent

loss resulting from retirements of experienced workers.

▪ Growing Awareness That Succession Issues Amount to More Than Finding Replacements:

When experienced people leave organizations, they take with them

not only the capacity to do the work but also the accumulated wisdom they

have acquired. That happens at all levels and in all functional areas. Succession

involves more than merely planning for replacements at the top. It also involves

thinking through what to do when the most experienced people at all

levels depart—and take valuable institutional memory with them.

Increasing Globalization of Talent: Workers in the West are heading to the Far

East, where more opportunities exist even in the midst of financial crises.

Talent is becoming more willing to travel where pay and benefits, as well as

tax rates, are more favorable.

▪ Growing Interest in Tapping Retirees: Though experts may argue over whether

a talent shortage has emerged or will emerge, business leaders are increasingly

turning to their more experienced workers or seeking to find them.

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Table of Contents

Contents

List of Exhibits — xiii

Preface to the Third Edition — xvii

Acknowledgments — xxxi

Advance Organizer for This Book — xxxiii

Quick Start Guide — xxxvii

What’s on the CD? — xxxix

Part I

Background Information About

Succession Planning and Management — 1

Chapter 1 What Is Succession Planning and Management? — 3

Six Ministudies: Can You Solve These Succession Problems? — 3

Defining Succession Planning and Management — 6

Distinguishing SP&M from Replacement Planning, Workforce Planning,

Talent Management, and Human Capital Management — 12

Making the Business Case for Succession Planning and Management — 14

Reasons for a Succession Planning and Management Program — 16

Reasons to Launch Succession Planning and Management Depending on

Global Location — 27

The Current Status of Succession Planning: What Research Shows — 27

The Most Famous Question in Succession: To Tell or Not To Tell — 29

Management Succession Planning, Technical Succession Planning, or Social

Network Succession Planning: What Are You Planning For? — 30

Best Practices and Approaches — 31

Ensuring Leadership Continuity in Organizations — 36

Summary — 41

Chapter 2 Trends Influencing Succession Planning and Management — 42

The Ten Key Trends — 43

What Does All This Mean for Succession Planning and Management? — 56

Summary — 56

Chapter 3 Moving to a State-of-the-Art Approach — 58

Characteristics of Effective Programs — 58

Common Mistakes and Missteps to Avoid — 63

The Life Cycle of Succession Planning and Management Programs: Five

Generations — 75

Integrating Whole Systems Transformational Change and Appreciative

Inquiry into Succession: What Are These Topics, and What Added Value Do They Bring? — 78

Requirements for a New Approach — 82

Key Steps in a New Approach — 83

Summary — 86

Chapter 4 Competency Identification, Values Clarification, and Ethics:

Keys to Succession Planning and Management — 87

What Are Competencies? — 87

How Are Competencies Used in Succession Planning and

Management? — 88

Conducting Competency Identification Studies — 89

Using Competency Models — 90

Newest Developments in Competency Identification, Modeling, and

Assessment — 91

What’s the Focus: Management or Technical Competencies? — 92

Identifying and Using Generic and Culture-Specific Competency

Development Strategies to Build Bench Strength — 93

What Are Values, and What Is Values Clarification? — 94

How Are Values Used in Succession Planning and Management? — 96

Conducting Values Clarification Studies — 96

Using Values Clarification — 97

What Are Ethics, and How Are Ethics Used in SP&M? — 98

Bringing It All Together: Competencies, Values, and Ethics — 100

Summary — 100

Part II

Laying the Foundation for a Succession

Planning and Management Program — 103

Chapter 5 Making the Case for Major Change — 105

Assessing Current Problems and Practices — 105

Demonstrating the Need — 114

Determining Organizational Requirements — 118

Linking SP&M Activities to Organizational and Human Resource Strategy —119

Benchmarking Best Practices and Common Business Practices in Other

Organizations — 123

Obtaining and Building Management Commitment — 128

The Key Role of the CEO in the Succession Effort — 131

The Key Daily Role of Managers in the Succession Effort — 133

Sustaining Support for the Succession Effort — 133

Summary — 135

Chapter 6 Starting a Systematic Program — 136

Strategic Choices in Where and How to Start — 136

Conducting a Risk Analysis and Building a Commitment to Change — 137

Clarifying Program Roles — 139

Formulating a Mission Statement — 142

Writing Policy and Procedures — 149

Identifying Target Groups — 151

Clarifying the Roles of the CEO, Senior Managers, and Others — 155

Setting Program Priorities — 157

Addressing the Legal Framework — 158

Establishing Strategies for Rolling Out the Program — 167

Summary — 168

Chapter 7 Refining the Program — 169

Preparing a Program Action Plan — 169

Communicating the Action Plan — 170

Conducting Succession Planning and Management Meetings — 173

Training on Succession Planning and Management — 177

Counseling Managers About Succession Planning Problems in

Their Areas — 185

Summary — 188

Part III

Assessing the Present and the Future — 189

Chapter 8 Assessing Present Work Requirements and Individual Job

Performance — 191

Identifying Key Positions — 192

Three Approaches to Determining Work Requirements in Key

Positions — 196

Using Full-Circle, Multirater Assessments — 201

Appraising Performance and Applying Performance Management — 204

Creating Talent Pools: Techniques and Approaches — 207

Thinking Beyond Talent Pools — 212

Summary — 214

Chapter 9 Assessing Future Work Requirements and Individual

Potential — 215

Identifying Key Positions and Talent Requirements for the Future — 215

Three Approaches to Determining Future Work Requirements in Key

Positions — 218

Assessing Individual Potential: The Traditional Approach — 224

The Growing Use of Assessment Centers and Portfolios — 233

The Latest Issues in Potential Assessment — 236

Summary — 237

Part IV

Closing the Developmental Gap:

Operating and Evaluating an SP&M

Program — 239

Chapter 10 Developing Internal Successors — 241

Testing Bench Strength — 242

Formulating Internal Promotion Policy — 246

Preparing Individual Development Plans — 249

Evaluating Individual Development Plans — 257

Developing Successors Internally — 257

The Role of Leadership Development Programs — 265

The Role of Coaching — 265

The Role of Executive Coaching — 267

The Role of Mentoring — 268

The Role of Action Learning — 270

The Role of Acceleration Pools — 270

Summary — 271

Chapter 11 Assessing Alternatives to Internal Development — 272

The Need to Manage for ‘‘Getting the Work Done’’ Rather than ‘‘Managing

Succession’’ — 272

Innovative Approaches to Tapping the Retiree Base — 281

Deciding What to Do — 284

Summary — 286

Chapter 12 Integrating Recruitment with Succession Planning — 287

What Is Recruitment, and What Is Selection? — 287

When Should Recruitment Be Used to Source Talent? — 288

Internal Versus External Recruitment: Integrating Job Posting with Succession

Planning — 289

Recruiting Talented People from Outside — 290

Innovative Recruitment Approaches to Attract High Potentials — 293

Summary — 296

Chapter 13 Integrating Retention with Succession Planning — 298

What Is Retention, and Why Is It Important? — 298

Who Should Be Retained? — 299

What Common Misconceptions Exist in Managing Retention Issues? — 303

Using a Systematic Approach to Increase the Retention of Talented

People — 305

Summary — 306

Chapter 14 Using Technology to Support Succession Planning and

Management Programs — 309

Defining Online and High-Tech Methods — 309

Where to Apply Technology Methods — 315

How to Evaluate and Use Technology Applications — 315

What Specialized Competencies Do SP&M Coordinators Need to Use These

Applications? — 327

Summary — 328

Chapter 15 Evaluating Succession Planning and Management

Programs — 329

What Is Evaluation? — 329

What Metrics Should Be Used to Evaluate SP&M Programs? — 330

What Should Be Evaluated? — 331

How Should Evaluation Be Conducted? — 334

How Can SP&M Be Evaluated with the Balanced Scorecard and HR

Dashboards? — 339

Summary — 347

Chapter 16 The Future of Succession Planning and Management — 348

The Fifteen Predictions — 349

Summary — 370

Appendix I: Frequently Asked Questions (FAQs) About Succession Planning

and Management — 371

Appendix II: Case Studies on Succession Planning and Management — 377

Notes — 409

Index — 429

About the Author — 447

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  • Anonymous

    Posted March 5, 2003

    Succession Planning Step by Step

    Effective use of Succession Planning with sufficient knowledge to teach even first time planners what is required to proceed forward. Moves HR staff from tranactional process into the real world of transformation performance based outcomes. Although not covered this book, reading into and between the lines can serve useful with providing assistance in the incorporating the PMA (Presidents Management Agenda) in helping organizations in the Human Capital Scorecard and "Getting to Green." Of particular use was chapters nine and ten Replacement Charting and targeted Succession. I feel since most organizations that seek to put in place a Succession Plan find that a lack of concepts and working models with examples hinders progress. This book helps to get one startted in a forward direction. Recommend!

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