Building Leaders TodayNovember 27th, 2007 |
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Take a look at this recent article from the Globe and Mail’s Report on Business.
The article highlights the phenomenon of management promotees failing in their new roles, and how some companies are seeing improved results by providing management training far in advance of any promotions.
This again brings up the importance of succession planning to sustain the strength and competitive advantage of organizations. Succession planning has recently become one of the biggest HR concerns, largely because of a looming power vacuum expected as the baby boomers retire, and the new challenges of engaging and retaining knowledge-based millennial workers.
As the article illustrates, succession planning is most effective when it is driven by an individual development plan (IDP). William J. Rothwell, Ph.D., SPHR, describes the process: “Once it is clear what present and future gaps exist for individuals as a result of performance assessment and potential assessment, some means should be established to help them prepare for the future by narrowing those gaps. To that end, individual workers - and their immediate supervisors - devise a plan to help individuals develop themselves and thereby prepare for possible future promotions.”
One way to do this is to establish in-house leadership and management development programs. A second way is to develop competency menus that provide specific developmental suggestions for individuals, like books to read, classroom or online courses, on-the-job assignments or shadowing opportunities.
It’s also important for the succession-planning process to establish accountability. Individuals - and their bosses - must be held accountable for cultivating their talents over time and closing developmental gaps. Otherwise, IDPs, and indeed the entire succession-planning process, are ineffective. Often, financial incentives for talent development can also help. For instance, individuals can be given bonuses if they achieve their developmental objectives, and supervisors can be given bonuses if their workers achieve their developmental objectives.
These are just a few ideas for improving the succession planning process and helping newly promoted workers succeed in their new roles.
Tags: HR, succession planningRelated posts
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