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Effective succession management

first_imgTop tips by International consultancy DDIA DDI survey of more than 1,000 executives and HR professionals found thatin most cases, organisations prefer to fill more than two-thirds of seniorleadership positions from within the company. Over the years, working with19,000 organisations worldwide, DDI has identified the most important driversthat provide effective succession management. Here are the top 10: Have an up-to-date succession management system Individuals need to be developed at an organisational level rather than forspecific positions, and then matched to the most appropriate positions asvacancies arise. Meaningful, measurable goals associated with tangiblesuccession management outcomes, should be set in place. Know all the high potential people within a company CEOs should be encouraged to look throughout their entire organisation forcandidates suitable for accelerated development instead of solely relying ontheir personal knowledge. Again, systems must be in place to find these people,particularly those who don’t typically interact with senior executives. ButCEOs should get to know the high-potential people within their organisations aswell as possible. Have common standards across your organisation Effective organisations have set up systems to identify exceptionallytalented individuals throughout their organisations, especially those workinginternationally. The criteria which constitutes high potential needs to beagreed upon to create transparency and help line managers and divisional HRpeople to spot talent. It is important to attach similar recognition topreviously unknown leaders from newly-acquired segments of the firm. The best people are not always the ones who get the most meaningful earlyassignments Not all potential leaders have equal access to the best job and developmentassignments, or the opportunity to take on significant responsibility early intheir careers. To level the playing field for all of an organisation’sprospective leaders, the evaluation of individuals with high potential shouldbe based on core, basic skills enhanced by well-crafted evaluation. Treat candidates as individuals Once individuals are identified as having high potential, their developmentneeds must be diagnosed so that they can be given the experience and trainingnecessary to prepare them for success at senior levels. Ensure that development plans are implemented Ideally, a development-planning discussion would be combined with settingjob objectives at the start of each new assignment. Once given their tasks, adeadline, and told of the support they can expect, those high potentialindividuals will be able to determine which of their development needs can bemet. Never assume short-term issues are more important The best companies act on the belief that their future depends on the peoplethey develop. And many make time for succession management activities becausethey believe that both their boards and the stock market are increasinglyconcerned about the depth of talent in a company. Understand that diversity can’t be left to chance Once a succession management system is in place, diversity goals must be setand aggressively re-inforced through the CEO’s behaviour. Leaders mustcommunicate the need for corporate diversity, but being involved in planningand championing the development of those with high potential sends out astronger message. Let people learn from their mistakes When an individual makes a wrong decision, it must be considered as anopportunity to learn from their mistakes. Fostering an atmosphere where peoplecan make mistakes and learn from the experience is an important part of asuccessful management programme. Remain patient Remember: just as it takes time to build a client base or penetrate newmarkets, people – even the brightest and most talented – need time to grow anddevelop. www.ddiworld.com Comments are closed. Effective succession managementOn 19 Nov 2002 in Personnel Today Previous Article Next Article Related posts:No related photos.last_img

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