WDW346H1F Lecture Week 8 Oct 31st 2012.doc

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Department
Woodsworth College Courses
Course
WDW101Y1
Professor
Ted Mock
Semester
Fall

Description
st WDW346H1F Lecture Week 8 Oct 31 2012 Succession Management (Important topic for HR Planning) The textbook used two terms: Succession Planning: includes replacement chart (look like an organizational chart or any specific part of an organization; senior leadership roles) Succession chart = will identify potential replacement- with readiness code and performance code The VP and HR will provide the names with HRIS It is important for the short term perspective (6 months) Downside of this approach: the focus here is jobs that currently exist and KSA that currently available, it does not recognise that company might be different in 2-3 years, it is not a strategic approach, it is a static approach HR: the VP of HR is the one who get the process going with the other VP and the CEO and get the function of the organization Succession Management: much more strategic approach The intersection of 3 factors: 1) Business plan, business goal and business strategy- because company change, get consider in more strategic approach and a measurable complication, need a completely different strategy to win a new future (i.e., automotive and IT industries) 2) Succession Planning 3) Management development Exogenous shock (for the business plan, goal and strategy): the external factor, like the recession, the collapse of research and motion due to competition It is no longer about filling the jobs; it is way more complicated than that The succession side: succession ‘pools’ of talent, brought to the business competencies, the use of competencies, more general application rather than job specific skills Talent management: the future leadership of the organization Union: job control unionism (control the jobs description), concern about management co-op and many unions resist that, CEP union is okay with management co-op and employees empowerment Empowerment the employees to do more Government job: more job control because the unionization Talent Pools: GE company: during the Jack Welch as CEO, he took GE from middle size company into one of the most profitable company. During his time, GE also became world famous for talent management. The books written based on GE: Leadership Engines/ Leadership Pipeline talked about their talent management. How does GE do it: Start with the above, Jack Welch thinks it necessary to have talent management. 30% of his time on talent management issue. Jack Welch made everybody job to become as talent management. It became embedded in the culture of the organization and in every manager performance requirement. Every manager need to become a talent hunter and identify the grow talent In many organizations, managers hide their talent J. Welch spent time to travel around the world to the GE companies talking about the talent management. Every GE that he visited need to present him with talent management. This engine that drives the leadership In many companies, the idea of talent management is very perverse and contrast to the GE approach. They did the thing call A players (the 20% of the top employees and subject to move anywhere, on a very fast tract), B players (80% of really good people) and C players (10% of force distribution which mean not good, should not be in the leadership tract) After Jack Welch left, the Player C is not require any more At GE, they actually tell you about if you are A player or B player and C player- many companies are not comfortable about that as concerning about implicit contract if you tell people they are A player A players also call Hi Po’s= high potential (sometimes Po Po’s – pass over and pissed off) How do you know if you are A players: Giving them recognition by giving them the good jobs in order to develop their talent Identifying Talent: (especially future leaders) Bosses identifying talent- seeing in one perspective, Performance appraisal system- the idea of 360 degree, give the different perspectives, managing up (managing your boss), that will influence bosses’ perception, bring the other form of appraisal A process that occur the opposite time of performance appraisal: management assessment process in the middle of the year The management assessment process is so focus on the management development Talking about where do you see yourself going in the company? What do you personally feel need to develop? Managers and subordinates- come up with these information came up through that process and when into the HRSM system Many companies do not separate the two discussions: they do it at the same time Semi- annual discussions: very positive instrument and provide tremendous input for HR performa
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