MHR 849 Lecture Notes - Lecture 7: Inbreeding, W. M. Keck Observatory
14 Jun 2019
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Document Summary
External: advantages of internal, more and better information, organizations that offer career development and opportunities to internal candidates increase commitment and retention. Step 1: align succession management plans with strategy: organizations must start with the business plans and strategies, using environmental scanning, managers try to predict where the organization will be in three, five, or ten years. Step 3: identify high-potential employees: organizations use several approaches to identify managerial talent, including, temporary replacements, replacement charts, strategic replacement, talent management culture. Step 4: provide developmental opportunities and experiences: promotions. Step 5: monitor succession management: corporations with strong succession management programs are higher performers in revenue growth, profitability, and market share, hr metrics can be used to help monitor. Increased positive perceptions of development opportunities: high-potential employees" perceptions of the succession management process, higher participation in developmental activities, greater numbers involved in the mentoring process, lag measures. Increased average number of candidates: reduced average number of positions have no identified successors.
