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SUCCESSION PLANNING

MFM 20122015
Presented by:
Name
Roll No.
ABHIJEET DESAI
66
MANDAR KADAM
77
SUBODH KOKATE
84
ABHISHEK NAGVEKAR
96
SANDEEP PALVANKAR
97
ROHIT RAUT
106
Succession Planning

Flow of Presentation

Definition

What is Succession Planning

Important of Succession Planning

Overview of Succession Planning

Step of Process

Conclusion

Succession Planning

Succession Planning

Succession planning is the process of


identifying high-potential employees, evaluating
and honing their skills and abilities, and
preparing them for advancement into positions
which are key to the success of business
operations and objectives.

Succession Planning

Succession Planning

Succession planning involves:

Understanding the organization's long-term goals


and objectives.

Identifying the high-potential candidates and


their respective developmental needs.

Determining workforce trends and predictions.

Succession Planning

WHY IS IT IMPORTANT
To

avoid extended and costly vacancies in key


positions and assure the stability of business
operations.
To

provide meaningful developmental


opportunities for both the organization and its
employees as it targets key leadership positions at
varying levels.
To

help develop a diverse workforce by enabling


decision makers to look at the future make-up of
the organization as a whole.
Succession Planning

SUCCESSION PLANNING IS NOT

A one time event

Decided by an individual

Used solely for individual career advancement

opportunities

Reacting only when a position becomes open

Succession Planning

Succession Planning

STEPS IN THE PROCESS

Phase 1: Indentify Key/ Critical Positions

Phase 2: Conduct Position Analysis

Phase 3: Develop Succession Plan

Phase 4: Monitor, Evaluate, Revise

Succession Planning

Phase 1: Identifying Key/Critical


Positions

Key Contributor - in achieving the organisations


mission or would hinder vital functions

Specialized Leadership The position requires


specialized or unique expertise

Geographic The position is the only one of its kind


in particular location

Vacancy Position will be vacant due to


retirement/advancement in the organisation/later
moves
Succession Planning

Phase 2: Conduct Position Analysis

What are the external and internal factors affecting


this position?

What competencies or skill sets will be required?

What are the gaps (competencies or skill sets not


possessed by the current staff) ?

What strategies will be used to address the gaps?

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Phase 3: Develop Succession Plan


The succession plan is the culmination
of Phase 1 and 2

Reviews of the individual positions and strategies


are formulated at an organisational or unit level.

The strategies to overcome the gaps are outlined


to include target completion dates, responsible
parties and required resources.

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Phase 4: Monitor, Evaluate, Revise

Status/Progress updates should be monitored via the


succession planning template and EPAs ( depends
what Holly chooses here)

Select evaluation period-typically reviewed annually

Be prepared to respond rapidly to unforeseen


changes to the plan

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Keeping the Plan Current


How will the plan be kept current?

Develop a recurring timeframe, whether semiannually or


annually.

Determine effectiveness of existing plan.

Determine whether the current plan still meets the


organizational objectives.

Determine whether the candidates have changed and


make necessary adjustments in the plan.

Assess and develop new candidates as with initial plan.


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Communicating the Plan to


Employees

Determine the method of communication; all staff


meetings, employee newsletter, public affairs
announcement, etc.

Take this opportunity to inform employees about the


benefits of developing a succession plan and how it
affects them.

Employees recognize that the organizations


management looks toward the future with optimism
and invests in employee development and growth.
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Conclusion

It is an ongoing process where the players will


changes continuously

It is a strategic effort that utilises inputs from


multiple sources

Have a well-developed and current succession plan


in place is important in avoiding vacancies in key
positions

The organisational direction may also change, so be


flexible
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