Develop Leaders With Succession Planning

1. Develop Leaders With Succession Planning DEVELOP LEADERS WITH SUCCESSION PLANNING HOW-TO GUIDE

2. 2 Develop Leaders with Succession Planning Process How-to Guide Developing leaders is a top organizational development priority for every company. Effectively managing knowledge capital is especially important in highly competitive industries. Understanding and deploying a succession management strategy is an excellent way to manage your department, groom future leaders, and mitigate risk.   Use Demand Metric’s downloadable Succession Management Matrix tool to identify and develop the future leaders of your organization. HOW-TO GUIDE Develop Leaders with Succession Planning What is Succession Planning? 5 Levels of Employee Performance Succession Planning is the process of identifying and preparing suitable employees, through mentoring, training and job rotation, to replace key players within an organization. From a risk management perspective, provisions are made in case no suitable internal candidates are available to replace the loss of any key person. Star Performer — this is the company prototype: very high performance and very high potential to be a leader. Stars always get their work done on time, operate at least one level higher than their current role, have influence outside of their department, and are acknowledged as a role model in their position. Strong Performer — these employees are very reliable and generally get all of their assigned work completed on time. Viewed as leaders, strong performers would be stars if their performance was consistently high, or if they had more potential. Questionable Performers — questionable performers are having difficulty excelling for one reason or another. Typically, they are capable of performing at a higher level but may be in the wrong position. Consider a lateral move here. Solid Performer — generally, solid performers are dependable to reach their goals, but lack the raw talent to be effective leaders. The best strategy for this group of employees is to continue skill development to increase performance. Low Performers — every organization has a few low performers. If potential and performance are low, look at exit options. If performance is low but potential is medium or high, consider a reassign- ment of duties. 2 Develop Leaders with Succession Planning Process How-to Guide Developing leaders is a top organizational development priority for every company. Effectively managing knowledge capital is especially important in highly competitive industries. Understanding and deploying a succession management strategy is an excellent way to manage your department, groom future leaders, and mitigate risk.   Use Demand Metric’s downloadable Succession Management Matrix tool to identify and develop the future leaders of your organization. HOW-TO GUIDE Develop Leaders with Succession Planning What is Succession Planning? 5 Levels of Employee Performance Succession Planning is the process of identifying and preparing suitable employees, through mentoring, training and job rotation, to replace key players within an organization. From a risk management perspective, provisions are made in case no suitable internal candidates are available to replace the loss of any key person. Star Performer — this is the company prototype: very high performance and very high potential to be a leader. Stars always get their work done on time, operate at least one level higher than their current role, have influence outside of their department, and are acknowledged as a role model in their position. Strong Performer — these employees are very reliable and generally get all of their assigned work completed on time. Viewed as leaders, strong performers would be stars if their performance was consistently high, or if they had more potential. Questionable Performers — questionable performers are having difficulty excelling for one reason or another. Typically, they are capable of performing at a higher level but may be in the wrong position. Consider a lateral move here. Solid Performer — generally, solid performers are dependable to reach their goals, but lack the raw talent to be effective leaders. The best strategy for this group of employees is to continue skill development to increase performance. Low Performers — every organization has a few low performers. If potential and performance are low, look at exit options. If performance is low but potential is medium or high, consider a reassign- ment of duties.

3. 3 Develop Leaders with Succession Planning Process How-to Guide HOW-TO GUIDE Develop Leaders with Succession Planning Employees leave organizations for a variety of reasons. Don’t be left holding the bag when a key member of your staff gives notice; use succession planning to effectively develop your staff and groom future leaders. Bottom Line 3 Develop Leaders with Succession Planning Process How-to Guide HOW-TO GUIDE Develop Leaders with Succession Planning Employees leave organizations for a variety of reasons. Don’t be left holding the bag when a key member of your staff gives notice; use succession planning to effectively develop your staff and groom future leaders. Bottom Line

4. 4 Develop Leaders with Succession Planning Process How-to Guide 1 2 3 4 5 Understand Succession Management Determine Vulnerabilities Evaluate Your Department Develop Staffing Plans Create Succession Plans Action Plan STEP 1 - Understand Succession Management Use our downloadable Succession Management Matrix to get a better understanding of your employee’s performance and potential. V I E W R E S O U R C E View Employee Perform- ance and Potential Succession Management Matrix 4 Develop Leaders with Succession Planning Process How-to Guide 1 2 3 4 5 Understand Succession Management Determine Vulnerabilities Evaluate Your Department Develop Staffing Plans Create Succession Plans Action Plan STEP 1 - Understand Succession Management Use our downloadable Succession Management Matrix to get a better understanding of your employee’s performance and potential. V I E W R E S O U R C E View Employee Perform- ance and Potential Succession Management Matrix

5. 5 Develop Leaders with Succession Planning Process How-to Guide 1 2 3 4 5 Understand Succession Management Determine Vulnerabilities Evaluate your department from the perspec- tive that you could lose any employee at any time. Staff members who are very crucial to your organization need to either document their knowledge or mentor the person who is likely to be next in line for their job. Action Plan STEP 2 - Determine Vulnerabilities Develop Staffing Plans Create Succession Plans Evaluate Your Department Be Ready for Anything Risk Assessment Tool V I E W R E S O U R C E 5 Develop Leaders with Succession Planning Process How-to Guide 1 2 3 4 5 Understand Succession Management Determine Vulnerabilities Evaluate your department from the perspec- tive that you could lose any employee at any time. Staff members who are very crucial to your organization need to either document their knowledge or mentor the person who is likely to be next in line for their job. Action Plan STEP 2 - Determine Vulnerabilities Develop Staffing Plans Create Succession Plans Evaluate Your Department Be Ready for Anything Risk Assessment Tool V I E W R E S O U R C E

6. 6 Develop Leaders with Succession Planning Process How-to Guide 1 2 3 4 5 Evaluate Your Department Action Plan STEP 3 - Evaluate Your Department Understand Succession Management Determine Vulnerabilities Develop Staffing Plans Create Succession Plans Use the Succession Management Matrix to evaluate the level of performance and leadership potential within your department. The goal is to have no Questionable or Low performers. Transparency of Staff Knowledge and Expertise V I E W R E S O U R C E Succession Management Matrix 6 Develop Leaders with Succession Planning Process How-to Guide 1 2 3 4 5 Evaluate Your Department Action Plan STEP 3 - Evaluate Your Department Understand Succession Management Determine Vulnerabilities Develop Staffing Plans Create Succession Plans Use the Succession Management Matrix to evaluate the level of performance and leadership potential within your department. The goal is to have no Questionable or Low performers. Transparency of Staff Knowledge and Expertise V I E W R E S O U R C E Succession Management Matrix

7. 7 Develop Leaders with Succession Planning Process How-to Guide 1 2 3 4 5 Develop Staffing Plans Be honest with your staff about their potential in your organization. Spend more time with higher potential staff, and be clear that expect- ations are higher for those with high potential. Action Plan STEP 4 - Develop Staffing Plans Understand Succession Management Determine Vulnerabilities Create Succession Plans Evaluate Your Department Staffing Plans with Clear Goals and Expectations Professional Development Plan V I E W R E S O U R C E 7 Develop Leaders with Succession Planning Process How-to Guide 1 2 3 4 5 Develop Staffing Plans Be honest with your staff about their potential in your organization. Spend more time with higher potential staff, and be clear that expect- ations are higher for those with high potential. Action Plan STEP 4 - Develop Staffing Plans Understand Succession Management Determine Vulnerabilities Create Succession Plans Evaluate Your Department Staffing Plans with Clear Goals and Expectations Professional Development Plan V I E W R E S O U R C E

8. 8 Develop Leaders with Succession Planning Process How-to Guide 1 2 3 4 5 Create Succession Plans Strategies such as job rotation, mentoring, and cross training are effective methods for establishing a basic succession plan. Focus on key executives who may leave in the next 18 months, and communicate this as an oppor- tunity for internal promotion. Action Plan STEP 5 - Create Succession Plans Understand Succession Management Determine Vulnerabilities Develop Staffing Plans Evaluate Your Department Incorporate Smart Strategy for Training & Promotion 8 Develop Leaders with Succession Planning Process How-to Guide 1 2 3 4 5 Create Succession Plans Strategies such as job rotation, mentoring, and cross training are effective methods for establishing a basic succession plan. Focus on key executives who may leave in the next 18 months, and communicate this as an oppor- tunity for internal promotion. Action Plan STEP 5 - Create Succession Plans Understand Succession Management Determine Vulnerabilities Develop Staffing Plans Evaluate Your Department Incorporate Smart Strategy for Training & Promotion

9. Demand Metric is a marketing research and advisory firm serving a membership community of over 100,000 marketing professionals and consultants in 75 countries. Offering consulting playbooks, advisory services, and 500+ premium marketing tools and templates, Demand Metric resources and expertise help the marketing community plan more efficiently and effectively, answer the difficult questions about their work with authority and conviction, and complete marketing projects more quickly and with greater confidence — thus boosting the respect of the marketing team and making it easier to justify resources the team needs to succeed. To learn more about Demand Metric, please visit www.demandmetric.com About Demand Metric Follow us on Twitter Like us on Facebook Join Linkedin Group © Demand Metric Research Corporation. All Rights Reserved. Demand Metric is a marketing research and advisory firm serving a membership community of over 100,000 marketing professionals and consultants in 75 countries. Offering consulting playbooks, advisory services, and 500+ premium marketing tools and templates, Demand Metric resources and expertise help the marketing community plan more efficiently and effectively, answer the difficult questions about their work with authority and conviction, and complete marketing projects more quickly and with greater confidence — thus boosting the respect of the marketing team and making it easier to justify resources the team needs to succeed. To learn more about Demand Metric, please visit www.demandmetric.com About Demand Metric Follow us on Twitter Like us on Facebook Join Linkedin Group © Demand Metric Research Corporation. All Rights Reserved.