Succession planning is a process of identifying and developing new leaders who can replace the seasoned leaders as they move on to take on larger roles, or retire. An organization at any point of time needs to have the complete picture of the leadership talent which resides in their organization. Fundamental to succession management process is the philosophy that the organization’s interest will always be paramount and having a Talent mindset speeds the process. It is a dynamic and a tedious process of Leadership Talent benchmarking exercise to assess and develop leaders and to create a robust Leadership Pipeline. Succession planning increases the availability of capable and experienced leaders that are prepared to assume these roles as they become available. Effective succession builds multiple lines up and down the entire leadership pipeline or progression.
LEADERSHIP AUDIT AND TALENT REVIEW
A regular leadership Audit and Talent review process informs us of the complete and total repository of talent that the organization has. An audit ensures that the decisions that are taking place are based on carefully evaluated data, and not ad-hoc. It also allows organizations to benchmark their talent data with external data that can be from similar or different sectors. A rigorous audit and review process will also ascertain the width and depth of leader pipeline, and therefore it can be augmented to ensure that risk on account of talent is mitigated. As the organization plans for delivering on future strategy, again talent gaps can be supplemented.
HIGH POTENTIAL IDENTIFICATION & MANAGEMENT
A High Potential Identification and Management process identifies the Stars who constitute the mission critical talent and need a differentiated development and refinement initiative. It allows organization to test the difference as they should between performance and potential, and how best to decode it. A program that further accelerates the high potentials’ development to take on key and challenging roles, which brings out the best in them. And in the process also creates a real Leadership Bench strength for the organization to call out when needed. A program that will make the High Potential organizational resources and pave the way for career planning to ensure high retention and engagement with them. As it is internationalized in the organization, it should be a frequent exercise so that the real leaders surface up.
LEADERSHIP DEVELOPMENT PROGRAMS
Leadership Development Programs are highly customized and cocreated to deliver to developing leadership at all levels, across the organization. What are some of the challenges being faced by our leaders, and how have we equipped them to beat those challenges. The program adopts a 70-20-10 formula and provides for learning experiences while delivering on the job (70%), getting coaching and mentoring to understand and glean from leadership experiences (20%) plus gaining conceptual understanding (10%). These programs are project managed to ensure that all elements of the program stay aligned and the intervention delivers holistically to the participants and the organization equally. Building accountability and practicing new skills and behaviours allows for more Leaders to be build at every level, by also tracking impact on predefined metrics.
EXECUTIVE COACHING
Executive Coaching engages with the leaders to provide them a holistic lens of themselves to pave the way for mindfulness and heightened awareness of their leadership style. To build awareness and provide a space for reflections is the foremost goal of executive coaching. To get the leaders to make commitments on what they would like to change within themselves reflected in their behaviour plus be accountable for those changes, is also a goal of executive coaching. Couple the executive’s reflection data with what an independent assessment throws up, provides a journey for leaders to walk on. The process helps develop insightful behaviour and makes for more leadership impact.
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