OBJECTIVES. To discuss what succession planning is. To discuss what succession planning is NOT. To discuss why is succession planning needed?

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1 SUCCESSION PLANNING

2 OBJECTIVES To discuss what succession planning is To discuss what succession planning is NOT To discuss why is succession planning needed? To discuss the basics of succession planning utilizing existing resources

3 What is Succession Planning It is a process for identifying and developing internal people with the potential to fill key business leadership positions in the organization.

4 What Succession Planning Is NOT. Identifying heir apparents or picking and choosing a single person or persons without providing training and development opportunities for others or the same opportunities for advancement.

5 Succession Planning It is a process for identifying and developing internal people with the potential to fill key business leadership positions in the organization. It is an internal mechanism for ensuring the sustainability of the institution by preparing individuals to achieve the institutions long term goals.

6 WHY IS SUCCESSION PLANNING NECESSARY? Baby Boomers ( ) are retiring. The youngest baby boomers are turning 50 this year and the oldest have already begun to retire. At least 25 35% of the total workforce and an even higher percentage of those in leadership positions- are at or near retirement age. Researchers predict at least a 50% turnover rate among senior higher education administrators within the next five to ten years.

7 WHY IS SUCCESSION PLANNING NECESSARY Potential large number of retirees threatens institutional continuity. Increases the availability of experienced and capable employees that are prepared to assume these roles as they become available. Replacement Planning Or Talent Management Every succession or talent pool management is centered on building a series of feeder groups up and down the entire the entire leadership pipeline or progression.

8 Succession Planning Increases the availability of experienced and capable employees that are prepared to assume these roles as they become available. Replacement Planning Or Talent Management has become a must Every succession or talent pool management is centered on building a series of feeder groups up and down the entire leadership pipeline or progression.

9 Replacement Planning In contrast, replacement planning is focused narrowly on identifying specific back-up candidates for given senior management positions. Top management in the organization must be managed for the greater good of the business. A talent mindset must be part of the leadership culture for succession practices to be effective.

10 QUESTIONS Does your college or university have a succession plan in place? What efforts are you taking to address the workforce gap of the future? How do you begin utilizing existing resources?

11 Strategic Planning Workforce Planning Talent Management Succession Planning

12 IN ORDER FOR SUCCESSION PLANNING TO BE EFFECTIVE THERE MUST BE A COMMITMENT AND MANDATE FROM THE TOP

13 Succession Planning It is a top down strategy that must become a part of the institution s culture Management at all levels should be held accountable for succession planning. It is not just a human resource function.

14 Strategic Planning Strategic planning is an organization's process of defining its strategy or direction and making decisions on allocating resources to pursue this strategy to ensure future success. Mission, Vision, Values

15 Workforce Planning Workforce planning is the process of ensuring that the right people with the right skills are in the right place, and at the right time to accomplish the mission of the organization. A systematic process for identifying and addressing the gaps between the workforce of today and the human capital needs of tomorrow. Workforce planning is necessary to ensure that your human capital needs align with business strategy

16 Development of a Workforce Plan Strategic Direction Workforce Analysis: Demographics, Skill Gaps, Competencies, Positions, Systems Develop An Action Plan Develop A Plan for Measurement & Evaluation

17 Talent Management Talent management is the integrated process of ensuring that an organization has a continuous supply of highly productive individuals in the right job, at the right time. Talent management is a continuous process that plans talent needs, builds an image to attract the very best, ensures that new hires are immediately productive, helps to retain the very best, and facilitates the continuous movement of talent to where it can have the most impact within the organization. The goal of the talent management process is to increase overall workforce productivity through the improved attraction, retention, and utilization of talent.

18 Talent Management Talent Acquisition: Ensuring that you are hiring the best quality candidates based on skill sets and competencies identified for each position. Accountability: Establish processes, hold departments accountable. Performance Management: Effectively evaluating personnel. Training & Development: Providing developmental opportunities for all. Leadership Development: Identification of potential leadership. Talent Retention: What are you doing at your institutions to ensure that your institution is a desired place to work.

19 Strategic Planning (Mission, Vision, Values) Workforce planning (Analysis - Demographics, skill gaps, positions, competencies, systems) Talent Management (Talent acquisition, Accountability, Development, Retention) Succession Planning

20 Institutional Capacity Colleges and universities have an on-going responsibility to build capacity in both personnel and programs. This requires continuing development of leaders who will facilitate the changes essential to deploying resources to increase productivity. The key tasks necessary to achieve an institution s mission with greater efficiency must involve the buy-in of the campus community. Improving the skill sets of key personnel Developing strategies to effect change Facilitation of discussions to achieve buy-in.

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22 QUESTIONS?

23 Kandy N. Peacock Vice President & Chief Human Resource Officer South Carolina Technical College System (803) p