Essay about MT6310 LP4

Submitted By dkhuerta84
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Pages: 3

MT6310



Learning Plan 4

Succession
Management

 Succession management is an ongoing process of systematically identifying, assessing, and developing an organization’s leadership capabilities to enhance its performance. 
Succession management affects the organization’s long-term direction and growth. Important Facts

 The first of the baby boomers filed for Social
Security in 2007 (Reester, 2008).
 As 76 million Baby Boomers begin to leave the workforce, the United States will experience the most dramatic economic and demographic changes in its history (Houlihan, 2008).
 Generation X (born 1965-1983) will be expected to fill the roles of retiring baby boomers with 35 million fewer workers (AimanSmith, Bergey, Cantwell, & Doran, 2006).

Succession Management
Plans



Written policies that guide the succession management process.

Developing a
Succession
Management System

Six Steps in
Developing a
Succession
Management System

Step One

Assess current and future competencies, behaviors, values, etc., needed for future job performance in the chosen position.

Step Two

Assess each identified and interested candidate’s strengths, weaknesses, and readiness to move into other positions. Step Three

Create a plan to continually and systematically improve the capabilities of all identified succession candidates. Step Four

Create a plan to identify qualified and interested internal candidates for open positions.

Step Five

Evaluate the system on relevant criteria including the number of positions filled with candidates who have been the target of succession management activities.

Step Six

Continually improve the system. What Makes a
Succession
Management System
Effective?


Succession
Management
Tips

 Keep the process simple. Make the process logical and simple so that busy line managers do not feel that the process is burdensome.
 Use technology to support the process. Information technology enables the timely monitoring and updating of developmental needs and activities.



 Align your succession management plan with your firm’s overall business strategy.
Top executives and line managers will be more supportive of a system that clearly reinforces the organization’s corporate goals and objectives.


 Focus on development. Succession management must be a flexible system oriented toward developmental activities rather than merely a list of high- potential employees and future positions they might fill.
 Model effective succession…