Effective Succession Planning: Ensuring Leadership Continuity and Building Talent from Within [NOOK Book]

Overview

When an employee leaves, there’s more at stake for your organization than just an open position that needs to be filled. Every company’s heart and soul—not to mention its bottom line—is dependent on the collective wisdom of its people. If you fail to plan for the sudden absence of those who have either been groomed to continue their ascent up the ladder—or those whose knowledge you simply can’t function without—consistent leadership and institutional memory can get lost in the ...
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Effective Succession Planning: Ensuring Leadership Continuity and Building Talent from Within

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NOOK Book (eBook - Fourth)
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Overview

When an employee leaves, there’s more at stake for your organization than just an open position that needs to be filled. Every company’s heart and soul—not to mention its bottom line—is dependent on the collective wisdom of its people. If you fail to plan for the sudden absence of those who have either been groomed to continue their ascent up the ladder—or those whose knowledge you simply can’t function without—consistent leadership and institutional memory can get lost in the shuffle.
Every serious organization needs a succession plan. And now—as baby-boomers retire en masse and companies of every size and type feel the various effects of globalization, the economy, and other factors—it is more necessary than ever to be prepared for change. In this extensively updated fourth edition, Effective Succession Planning provides the tools you need to establish, revitalize, or revise your own succession planning and management (SP&M) program. You’ll learn how to: • Identify competencies and clarify organizational values for both planning and managing a succession program. • Plan for and quickly fill crucial vacancies at all levels from top management to sales, administrative, technical, and production positions. • Develop and retain top talent, building and preserving your organization’s intellectual capital. • Assess current needs and future resources for seamless succession planning. • Use the latest technology to organize and implement succession planning and management programs.
Incorporating the results of two extensive new surveys, and including a Quick Start Guide to help begin immediate implementation, this essential resource reflects the latest trends and best practices in succession management. Packed with forms, tools, examples, and guidance, this is an essential resource for any organization concerned with retaining the accumulated wisdom built up over time by its most valued employees.
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Product Details

  • ISBN-13: 9780814414170
  • Publisher: AMACOM
  • Publication date: 4/28/2010
  • Sold by: Barnes & Noble
  • Format: eBook
  • Edition description: Fourth
  • Edition number: 4
  • Pages: 496
  • Sales rank: 755,705
  • File size: 10 MB

Meet the Author

WILLIAM J. ROTHWELL is Professor of Workplace Learning and Performance in the Workforce Education and Development program on the University Park campus of The Pennsylvania State University, and the President of Rothwell & Associates, a business consultancy with more than 35 multinational clients in the private, public, nonprofit, and government sectors. An internationally respected authority on human resources issues, he is a frequent speaker at conferences and seminars around the world, and the author of The Manager’s Guide to Maximizing Employee Potential, a sister book to accompany this book that focuses on the tactical responsibility of the manager to build talent every day.
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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


Chapter 1: What Is Succession Planning and Management?
Chapter 2: Trends Influencing Succession Planning and Management
Chapter 3: The Need for a Newer Approach
Chapter 4: Competency Identification and Values Clarification: Keys to Succession Planning and Management
Chapter 5: Making the Case for Change
Chapter 6: Starting Up a Systematic Succession Planning and Management Program
Chapter 7: Refining the Program
Chapter 8: Assessing Present Work Requirements and Individual Job Performance
Chapter 9: Assessing Future Work Requirements and Individual Potential
Chapter 10: Developing Internal Successors
Chapter 11: Assessing Alternatives to Internal Development
Chapter 12: Applying Online and High-Tech Approaches to Succession Planning and Management Programs
Chapter 13: Evaluating Succession Planning and Management Programs
Chapter 14: Special Issues in Succession Planning and Management
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