In this video, Wayne Cascio examines how a well-known firm plans for leadership succession by focusing on a common set of leadership competencies to identify talent across functional areas. Then, he identifies six fundamental principles for all organizations to follow in deciding who should assume command.
- Leadership succession originated with planners…in the military.…At the most basic level, the troops need to know…who they should follow should their leader…become injured or incapacitated.…In this video, we'll examine how several business firms…plan for leadership succession.…And then we'll identify some general principles…for you to follow.…Both GE and IBM have had similar processes in place…for decades and many other firms…have modeled their succession tactics.…
Responsibility for carrying out the succession process…rests with line executives from division presidents…up to the chief executive officer, or CEO.…Corporate HR provides staff support.…Once a year, each responsible executive makes…a formal presentation to a corporate policy committee…consisting of the chairman, the vice chairman,…and the president.…The presentation usually consists of an assessment…and ranking of the present performance and future potential…of key executives and their possible replacements.…
All of this is done in relation to the firm's…
Wayne reviews what SWP is and how it delivers value to companies large and small. He steps through how to build a talent inventory, forecast the internal and external supply of labor, and approach succession planning. Plus, he explains how to tackle global talent management effectively.
- What is strategic workforce planning (SWP)?
- How does SWP deliver value?
- Building a talent inventory
- Forecasting the internal and external workforce supply
- Succession planning
- Evaluating the usefulness of SWP systems
- Who owns talent development?