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LS 222 (19)
Chapter 9

Chapter 9: Succession Management

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University of Waterloo
Legal Studies
LS 222
Jennifer Schulenberg

Chapter 9: Succession Management • Succession Management: the process of ensuring that pools of skilled employees are trained and available to meet the strategic objectives of the organization • Succession management consists of a process of identifying employees – Have potential to assume key positions in organization and preparing them for these positions – Ensures continuity in leadership and develops next generation • Identification of talent vs development of talent • Organizations must prepare for expected and unexpected turnover • Succession Management needed: – Baby boomers retiring (hold most leadership positions) – Labour shortages Evolution of Succession Management • Replacement planning: the process of finding replacement employees for key managerial positions • Replacement planning has existed for a long time – it has involved into succession management by: – Broadening the focus • Depended on stable future, where KSAs of future managers looked like the current managers • Jobs of next 5 – 10 years assumed to be identical to existing jobs • Organizational structures were unchanging and few new competitors were seen on horizon • Employees selected based on long term goals, developmental plans are aligned with strategic plans, not position replacements – Expanding the time horizon • Traditional approach  concerned with immediate and short term replacements • Doesn’t allow for intake or career management of those with different skill in growth areas • Now looks at long term and focus on futures of 2+ years – Creating a talent pool of replacements, and • Managers would identify top performers and groom them for success • 2 or 3 successions would be identified and race to the finish line for executive promotion • key: not to develop specific successor to fill any position but develop several multiple successors • start with positions that are difficult to fill because of talent shortages • organizations trying to identify and develop as many employees as possible to ensure employee departures and changing needs won’t leave them harmed, avoid crown prince syndrome • talent segmentation is important to identify employees who are critical to the success of the organization • talent pool of company is corporate resource, not property of individual organizational units – Improving the evaluation system Reasons for Succession management 1. Provide opportunities for high-potential workers. 2. Identify replacement needs 3. Increase the talent pool of promotable employees 4. Contribute to implementing the organization’s strategic business plans 5. Help individuals realize their career plans 6. Tap the potential for intellectual capital 7. Encourage the advancement of diverse groups 8. Improve employees’ability to respond to changing environmental demands 9. Improve employee morale 10. Cope with the effects of voluntary separation programs 11. Decide which workers can be terminated 12. Cope with the effects of downsizing 13. Reduce headcount to essential workers only Succession management Process The process involves 5 steps: 1. Align Succession Management Plans with Strategy Chapter 9: Succession Management 1. Organizations must start with the business plan 2. Using environmental scanning, managers try to predict where the organization will be in three to five to ten years 2. Identify the Skills and Competencies Needed to Meet Strategic Objectives 1. Job-BasedApproach: focus on duties, skills, job experience, and responsibilities required to perform the job a) Not adequate since jobs change rapidly 2. Competency-BasedApproach: focus on measurable attributes that differentiate successful employees from those w
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