When we think of succession planning, we often think of the technical aspects of planning, but planning requires people and determining the right fit for key positions within an organization. Think of the people that will run your business after you are gone. What key attributes do they need and what skills should they possess? How should they continue representing your company and do they have those qualities now or do they need to be developed? Essentially, these are competencies. So what are competencies and why are they needed? Take a look at Part III of our article on succession-planning to find out. You'll be glad that you did. Sincerely, Tracy D. Holloman and Kevin A. Key Managing Partners
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Part III - Planning for Continued Business Success...Even after you are gone!
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Competency Model Best Practices for Succession Planning
In our previous publications we discussed what succession planning is and why it is important as well as how to go about communicating it to staff. Execution of a succession plan however lies in the competencies of the organization as well as the key positions held by individuals.
Competencies used in succession planning link and align an organization's core competencies (strategic strengths) to job competencies. They help to define high potential employees, clarify future and present competencies and help to develop multi-rater assessments that can be tailored to the culture of the company. So what should a competency model include?
First, the best competency models for succession incorporate assessments to help determine an individual's capabilities for leadership, adherence to the organization's values, and capacity for development and learning in addition to performance outcomes. This takes into consideration, preparatory experiences (what one has done)
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Strategy is no longer top-down...It's Social!
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Top down strategy is dead, leaders still have to lead, and they do so by developing strategic planning initiatives that achieve results. Strategic plans set the tone for how companies behave. Strategy will always matter most, even in a social era where it's holistic rather than top-down. The most important question is how does the social era we're in affect strategic planning?
Sometimes, even social businesses fail to bring social strategies into the boardroom. For most organizations, "social" means nothing more than CRM, marketing, and product feedback. Few realize the exponential rewards hidden in every organization's "Social Consciousness."
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Sincerely,
Purposeful Leadership Solutions Sincerely,
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