SUCCESSION CH 2 – TRENDS

INFLUENCING
PLANNING SP&M
THINGS TO PONDER..
1. What are the trends in Succession Planning & Management
which drives future workplace?
2. Is growing global awareness of similarities and differences in
succession issues important? Why?
3. Identify some ways through which you can contribute in
growing global awareness of similarities and differences in
succession issues.
TRENDS THAT DRIVE THE FUTURE
WORKPLACE AND WORKFORCE
1. Changing technology.
2. Increasing globalization.
3. Continuing cost containment.
4. Increasing speed in market change.
5. The growing importance of knowledge capital.
6. An increasing rate and magnitude of change.
TEN KEY TRENDS EXERTING
SPECIAL INFLUENCE ON
SP&M
1. The need for speed
2. A buyer’s market for skills
3. Reduced loyalty among employers and workers
4. The importance of intellectual capital and knowledge
management
5. The importance of values, ethics, and competencies
TEN KEY TRENDS EXERTING
SPECIAL INFLUENCE ON
SP&M (CONT.)
6. More software to support succession
7. The growing activism of the board of directors
8. Growing awareness of similarities and differences in succession
issues globally
9. Growing awareness of the similarities and differences of
succession programs in special venues: government, nonprofit,
education, small business, and family business
10. Managing a special issue: CEO succession
WHAT DOES ALL THIS MEAN
FOR SUCCESSION PLANNING
AND MANAGEMENT
Be based on sensitivity to the need for speed.
Align organizational needs with individual needs in order to be responsive
to a seller’s market for skills.
Emphasize a present orientation that will work in business settings where
neither individuals nor organizations possess long-term loyalty.
Be sensitive to unique needs by culture, industry, or economic sector, and
level on the chain of command.
FIVE KEY ISSUES
According to research conducted by blessing white, as cited by Angela
Hills, five key issues are essential to the success of succession planning:
1. Succession planning is aligned with business strategy;
2. There is a way to assess leadership potential;
3. Involve people in planning for talent;
4. Use a combination of methods to develop people; and
5. Cast a broad net for succession rather than assuming everyone should
be promoted from within.