6-steps-to-creating-a-talent-pool-based-successsion-planning-process.pdf

6 STEPSto creating a winning talent pool based succession planning process Succession planning: Talent pool: building deep bench strength throughout a group of high-performing, the organization so that, whenever a high-potential employees vacancy occurs, the organization has who are being developed to many qualified internal candidates who assume greater responsibility can be considered for the position. in a particular area. Identify staffing needs 1 Look at your strategic plan. Which positions are critical to your organization’s long-term success? Don’t forget customer-facing, technical or other roles that demand a specific skillset, experience or knowledge that cannot be easily replaced. Consider the strategic direction of your product or service. Where is there demand for knowledge, skills and abilities? What will demand be 5 years from now? In terms of capacity, how many roles do you need to fill now and in the future? 2 Create talent pools Based on staffing needs, what types of talent pools do you require? e.g. CFO, emerging leaders, technical specialists, managers Create a talent pool competency list: what knowledge, skills and experience are required for success? What type of learning and development is required to develop talent pool members on identified competencies? e.g. on the job learning, mentorship, courses, cross-functional teams or working groups, etc 3 Identify talent pool candidates Evaluate your current employees to identify talent pool candidates. Who are your high potentials? High performers? Consider performance data, referrals, career planning discussions, past work experience. Also: potential for promotion and retention risk. Assign employees to appropriate talent pools Before accepting a candidate, ask if they’re willing to be part of the talent pool. Ask: What are your long-term career plans? What are you passionate about? What other parts of the business would you be willing to explore? 4 Develop your talent pools Create individual development plans for talent pool members. Create a continuous loop of development and assessment against talent pool competencies. Meet regularly with talent pool members Ask: Is this talent pool still a good fit for you? Is this the right career path for you? 5 Hire from talent pools When a new position is created or one becomes vacant, the first place you look to fill the opening is the relevant talent pool. Create an onboarding program to ensure the talent pool member is successful in their new role. e.g. Assign the new hire a mentor to help them be successful. 6 Evaluate your succession management process With every performance assessment, evaluate the talent pool membership. Ask: Are talent pool members meeting competency expectations? If not, provide further development to improve performance or remove them from the talent pool entirely. Regularly assess your talent pool definitions, competencies, and development plans. Ask: Is the talent pool effective in developing successors for key roles? © 2014 Halogen Software Inc. All rights reserved.