Succession Planning :It refers to the plans a company makes to fills most importance executive position .In practice the process involves a fairly complicated and integrated series of steps.
A most comprehensive definition of succession planning is that it is the process of ensuring a suitable supply of success or for current and future senior or key jobs arising in the business strategy, so that the career of individuals can be planned and managed to optimize the organization needs and the individual aspirations.
Succession planning is done in 3 time frames:
Immediate - within one year
Intermediate - one year to 3 years
Organizations gear most by their management succession activities to the immediate future. This is mostly because it is integrated closely with the annual budgets and business plans. However, the real succession plan should be geared towards intermediate and long-range time frames.
Elements of Succession Planning:
As a first step, management staffing plans should be developed. These plans should be prepared on an individual basis for all anticipating needs in the intermediate years ahead and for key position in the intermediate and long-range future. The potential effects by external factors, such as economic forecasts and overall manpower market forecasts should be received and considered. The business plans should be received to determine their effect all-managerial needs. As business plans for both the near and long term are developed, the organizations plans and human resources forecasts should be formed.
The Second Step concerns staffing and development. Staffing includes recruitment, selection and placement of candidates from the outside and inside the organization and development of managerial personnel should be ensured through approaches such as formal training both within the organization and outside, planned job rotation performance planning and appraisal, counseling and coaching.
The third step concerns needing a congenial environment, where people give their best. The organization’s environment should ensure the retention of the most desirable employee.
The Fourth Step consists of doing appraisals. Appraisals and analysis of results achieved should provide an organization with essential feedback on the performance of managers.
The Fifth Step is the S.P exercise in the preparation of management resource statutory consisting of the following:
Personal Data
Performances
Potential
Skills Career Goals
Career Plans
Potential appraisals are done to know the potential of the employees so that the employees who have more potential become eligible for promotions.
As assessment center is used to assess the potential of management candidates considered are asked to perform realistic tasks under observation of expert appraisers.
Simulated exercises in a typical assessment center includes:
In basket:
The candidate is given a number of reports, names, and notes on incoming phone calls, letters and the material collected in the in-basket of the simulated jobs he is supposed to take over. The candidate is asked to take appropriate actions on each of these materials.
Group Discussion:
A leaderless group discussion is given a topic for discussion and asked to arrive at a group discussion. The raters then evaluate each group member’s personal skills, acceptance by the group, leadership ability and individual inference.
Management Games:
Participants engage in realistic problem solving. E.g., as member of two more companies that are competing in the marketplace. Decisions would have to be made about matters like how to advertise and manufacture and how much inventory to keep in stock.
Individual Presentation:
A participant’s communication skill and persuasiveness evaluated by having the person take an oral presentation on an assigned topic.
Objective Tests:
Papers and pencil tests for personality, mental ability, interests and achievement may be conducted to measure the participant’s sense on factors to be assessed.
Interview:
are conducted to determine the participant’s current interests, background, past performance and motivation.
Through these processes, the participant’s potential is assessed and management development and placement decisions taken. Potential of the existing candidates working with the company can be evaluated by their past performances with the company.
No comments:
Post a Comment