The stakes are high when firms plan for their future leaders, for at the heart of succession lie personality, ego, power, and, most important, mortality. In this video, learn the pros and cons of keeping succession plans secret, as well as a middle ground designed to motivate and retain high-performing, high-potential talent.
- Ideally, careful succession planning grooms people…inside the organization for possible leadership roles.…It motivates high-performing, high-potential people…to stay and to excel.…So why do some firms…keep their leadership succession plans secret?…Because at the heart of succession…are sensitive issues like personality,…ego, power, and most important, mortality.…In this video, we'll explore the pros and cons…of keeping succession plans secret…and I'll suggest a middle ground.…
For many senior executives, their job is their life.…Planning for their successors…is akin to planning their funerals.…They don't wanna think about that…so some firms keep their succession plans secret,…especially if the company is performing well.…Yet if firms keep strategic workforce planning information…about candidates secret, all of that planning…may have limited value.…For example, at a software company,…a senior executive on her way out the door…for the president's job at a competitor…was told that the firm had expected her…to be its next president.…
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?