Effective Succession Planning

Jerry S. Wilson (Atlanta, GA) is a noted speaker and senior vice president at The Coca-Cola Company. Ira Blumenthal (Atlanta, GA) is a highly respected brand consultant, author, speaker, and university educator who has counseled high-profile brand clients such as Coca-Cola, Disney, Marriott, Nestle, and American Airlines.

Contents List of Exhibits - xiii Preface to the Third Edition - xvii Acknowledgments - xxxi Advance Organizer for This Book - xxxiii Quick Start Guide - xxxvii What's on the CD? - xxxix Part I Background Information About Succession Planning and Management - 1 Chapter 1 What Is Succession Planning and Management? - 3 Six Ministudies: Can You Solve These Succession Problems? - 3 Defining Succession Planning and Management - 6 Distinguishing SP&M from Replacement Planning, Workforce Planning, Talent Management, and Human Capital Management - 12 Making the Business Case for Succession Planning and Management - 14 Reasons for a Succession Planning and Management Program - 16 Reasons to Launch Succession Planning and Management Depending on Global Location - 27 The Current Status of Succession Planning: What Research Shows - 27 The Most Famous Question in Succession: To Tell or Not To Tell - 29 Management Succession Planning, Technical Succession Planning, or Social Network Succession Planning: What Are You Planning For? - 30 Best Practices and Approaches - 31 Ensuring Leadership Continuity in Organizations - 36 Summary - 41 Chapter 2 Trends Influencing Succession Planning and Management - 42 The Ten Key Trends - 43 What Does All This Mean for Succession Planning and Management? - 56 Summary - 56 Chapter 3 Moving to a State-of-the-Art Approach - 58 Characteristics of Effective Programs - 58 Common Mistakes and Missteps to Avoid - 63 The Life Cycle of Succession Planning and Management Programs: Five Generations - 75 Integrating Whole Systems Transformational Change and Appreciative Inquiry into Succession: What Are These Topics, and What Added Value Do They Bring? - 78 Requirements for a New Approach - 82 Key Steps in a New Approach - 83 Summary - 86 Chapter 4 Competency Identification, Values Clarification, and Ethics: Keys to Succession Planning and Management - 87 What Are Competencies? - 87 How Are Competencies Used in Succession Planning and Management? - 88 Conducting Competency Identification Studies - 89 Using Competency Models - 90 Newest Developments in Competency Identification, Modeling, and Assessment - 91 What's the Focus: Management or Technical Competencies? - 92 Identifying and Using Generic and Culture-Specific Competency Development Strategies to Build Bench Strength - 93 What Are Values, and What Is Values Clarification? - 94 How Are Values Used in Succession Planning and Management? - 96 Conducting Values Clarification Studies - 96 Using Values Clarification - 97 What Are Ethics, and How Are Ethics Used in SP&M? - 98 Bringing It All Together: Competencies, Values, and Ethics - 100 Summary - 100 Part II Laying the Foundation for a Succession Planning and Management Program - 103 Chapter 5 Making the Case for Major Change - 105 Assessing Current Problems and Practices - 105 Demonstrating the Need - 114 Determining Organizational Requirements - 118 Linking SP&M Activities to Organizational and Human Resource Strategy -119 Benchmarking Best Practices and Common Business Practices in Other Organizations - 123 Obtaining and Building Management Commitment - 128 The Key Role of the CEO in the Succession Effort - 131 The Key Daily Role of Managers in the Succession Effort - 133 Sustaining Support for the Succession Effort - 133 Summary - 135 Chapter 6 Starting a Systematic Program - 136 Strategic Choices in Where and How to Start - 136 Conducting a Risk Analysis and Building a Commitment to Change - 137 Clarifying Program Roles - 139 Formulating a Mission Statement - 142 Writing Policy and Procedures - 149 Identifying Target Groups - 151 Clarifying the Roles of the CEO, Senior Managers, and Others - 155 Setting Program Priorities - 157 Addressing the Legal Framework - 158 Establishing Strategies for Rolling Out the Program - 167 Summary - 168 Chapter 7 Refining the Program - 169 Preparing a Program Action Plan - 169 Communicating the Action Plan - 170 Conducting Succession Planning and Management Meetings - 173 Training on Succession Planning and Management - 177 Counseling Managers About Succession Planning Problems in Their Areas - 185 Summary - 188 Part III Assessing the Present and the Future - 189 Chapter 8 Assessing Present Work Requirements and Individual Job Performance - 191 Identifying Key Positions - 192 Three Approaches to Determining Work Requirements in Key Positions - 196 Using Full-Circle, Multirater Assessments - 201 Appraising Performance and Applying Performance Management - 204 Creating Talent Pools: Techniques and Approaches - 207 Thinking Beyond Talent Pools - 212 Summary - 214 Chapter 9 Assessing Future Work Requirements and Individual Potential - 215 Identifying Key Positions and Talent Requirements for the Future - 215 Three Approaches to Determining Future Work Requirements in Key Positions - 218 Assessing Individual Potential: The Traditional Approach - 224 The Growing Use of Assessment Centers and Portfolios - 233 The Latest Issues in Potential Assessment - 236 Summary - 237 Part IV Closing the Developmental Gap: Operating and Evaluating an SP&M Program - 239 Chapter 10 Developing Internal Successors - 241 Testing Bench Strength - 242 Formulating Internal Promotion Policy - 246 Preparing Individual Development Plans - 249 Evaluating Individual Development Plans - 257 Developing Successors Internally - 257 The Role of Leadership Development Programs - 265 The Role of Coaching - 265 The Role of Executive Coaching - 267 The Role of Mentoring - 268 The Role of Action Learning - 270 The Role of Acceleration Pools - 270 Summary - 271 Chapter 11 Assessing Alternatives to Internal Development - 272 The Need to Manage for "Getting the Work Done" Rather than "Managing Succession" - 272 Innovative Approaches to Tapping the Retiree Base - 281 Deciding What to Do - 284 Summary - 286 Chapter 12 Integrating Recruitment with Succession Planning - 287 What Is Recruitment, and What Is Selection? - 287 When Should Recruitment Be Used to Source Talent? - 288 Internal Versus External Recruitment: Integrating Job Posting with Succession Planning - 289 Recruiting Talented People from Outside - 290 Innovative Recruitment Approaches to Attract High Potentials - 293 Summary - 296 Chapter 13 Integrating Retention with Succession Planning - 298 What Is Retention, and Why Is It Important? - 298 Who Should Be Retained? - 299 What Common Misconceptions Exist in Managing Retention Issues? - 303 Using a Systematic Approach to Increase the Retention of Talented People - 305 Summary - 306 Chapter 14 Using Technology to Support Succession Planning and Management Programs - 309 Defining Online and High-Tech Methods - 309 Where to Apply Technology Methods - 315 How to Evaluate and Use Technology Applications - 315 What Specialized Competencies Do SP&M Coordinators Need to Use These Applications? - 327 Summary - 328 Chapter 15 Evaluating Succession Planning and Management Programs - 329 What Is Evaluation? - 329 What Metrics Should Be Used to Evaluate SP&M Programs? - 330 What Should Be Evaluated? - 331 How Should Evaluation Be Conducted? - 334 How Can SP&M Be Evaluated with the Balanced Scorecard and HR Dashboards? - 339 Summary - 347 Chapter 16 The Future of Succession Planning and Management - 348 The Fifteen Predictions - 349 Summary - 370 Appendix I: Frequently Asked Questions (FAQs) About Succession Planning and Management - 371 Appendix II: Case Studies on Succession Planning and Management - 377 Notes - 409 Index - 429 About the Author - 447