By: Paul R. Plotczyk

Not So Hot at Your Top?

In the last issue of LeadingUpset we took a look at why Talent Management is such a hot topic in the hearts and minds of top executives (Talent Management Part I: Why It's Hot at the Top.)

If Talent Management hasn't become a critical part of the leadership DNA in your organization, you are not alone. Despite the strong economic drivers for making Talent Management an integral part of any strategic organizational plan, many CEOs still feel they can relegate the issue to HR and a good headhunter.

In this article we will discuss how to light a fire at the top and start the culture shift necessary to ensure you have the talent resources you need to succeed today and beyond.

Succession Planning – Get Their Attention

We believe that strong economic drivers need to be at the foundation of any major culture change. Fear of losing in the marketplace as a result of not having the right people certainly qualifies as such a driver and often provides the impetus for chief executives to launch a talent management program. The most successful approaches start with Succession Planning.

Succession Planning gets the attention of everyone in leadership positions. It makes the management of talent very personal, very quickly. However, if not managed well, Succession Planning can create a set of emotions that can distract leaders from running the business by shifting their focus to the politics of advancement – or job survival!

The Three Keys to Succession Planning

There are three critical phases of an effective Succession Planning process: Discovery, Decision, Action.

Phase 1: Discovery

The Discovery phase is designed to distinguish the critical strategic issues the enterprise will face within the next 3 – 5 years. Leadership can then identify the skills, competencies and role characteristics executives will need to ensure organizational success in that future environment. From this process Executive Profiles are born.

Phase 2: Decision

The Decision phase is used to validate the Executive Profiles, assess potential successors against the requirements of the profiles and identify where talent gaps exist. The next step is to craft Successor Development Plans to fill the competency “gaps” for the potential successor, as well as across the organization's talent pool.

Phase 3: Action

The Action phase is intended to take the solutions created to close the competency gaps and create working, viable action plans to lead an implementation strategy supported by a leadership-driven audit process.

What Talent Management and Succession Planning Can do for You

Talent Management is about strategically managing the human resources of your organization to close the gap between today's talent resources and tomorrow's leadership requirements. It ensures that the available talent pool is able to take the organization along the path of achieving its business goals and strategic intent.

Succession Planning is the best place to start a Talent Management process, particularly if Talent Management is not “front of mind” in the executive ranks.

Done well, Succession Planning:

• Becomes the driver for an effective Talent Management approach
• Gets the attention of organizational leaders
• Provides a critical first step of the Talent Management system - a thorough and data-based analysis of the current leadership talent within the organization.
• Produces the core competencies that become the foundation of the components of successful Talent Management:
• Attract
• Retain
• Develop, and
• Transition Talent.

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