Ready your organization & Succession Planning Leadership Development for what s next A White Paper from PLS Consulting, Inc. PLS Consulting, Inc. 9011 SW Beaverton-Hillsdale Hwy. Ste. 1A Portland, OR 97225 800.827.7576 www.pls.net
Table of Contents Succession Planning: Who Will Lead Your Company Tomorrow...3 Why Should Organizations Develop Succession Planning Programs?...4 Critical Considerations for Designing a Succession Planning Program...6 Other Design Considerations...8 PLS Methodology for Developing and Evaluating Succession Planning Programs...11 The Process as Implemented in the Organization....15 Conclusion....17 About PLS...17 Contact...17 References...18 2010 PLS Consulting, Inc. All rights reserved. No parts of these written materials, associate media, or other instructional components may be reproduced without the express written consent of PLS Consulting, Inc. 2 PLS Consulting, Inc. 9011 SW Beaverton-Hillsdale
Succession Planning Who will lead your company tomorrow? Ready your organization & Succession Planning Leadership Development for what s next Succession Planning: Who Will Lead Your Company Tomorrow? In recent years there has been significant research conducted and books written regarding succession planning, replacement planning and talent management. The emphasis is warranted given the availability of a skilled workforce as the baby boomers reach retirement age in staggering numbers. Succession planning is defined as, any effort designed to ensure the continued effective performance of the organization, division, department, or work group by making provision for the development, replacement and strategic application of key people over time (Rothwell, 2001, p. 6). Upwards of 70,000 workers a day a becoming age eligible for retirement as of 2010. Do we really think we no longer have a leadership problem? With all that has been discussed and all the documented value surrounding Succession Planning, surely every organization has already implemented a successful succession planning process. Hold on for a moment: A survey by PricewaterhouseCoopers and Corporate Board Member magazine found that 35% of board directors are dissatisfied with their company s succession plans, with about half of those attributing their displeasure to the fact that succession planning is not regularly on the board s agenda. Nearly two thirds of CEOs said they were likely to step down from their positions in the next 10 years (Jusko 2005). Of those CEO s who will step down over the decade (2005 2015) thirty-nine percent Hwy. Ste. 1A Portland, OR 97225 800.827.7576 www.pls.net 3
said they have a likely successor in mind, with 45% reported having identified no successor at all (Jusko 2005). In the 2010 ASTD/i4cp study data found that a mere 15% of the respondents described their succession planning efforts as effective to a high or very high extent (Improving Succession Plans, p-4). Combine this further with the fact that While many organizations acknowledged the importance of planning for successors for leadership, fewer than half of those surveyed (45%) said their organizations have a formal planning process in place (2010 ASTD/i4cp study, Improving Succession Plans, p-4). So while the time for replacing retiring leaders narrows, a significant number of organizations both private and government do not have a sufficient plan for maintaining their organization s leadership continuity. This paper will focus on reasons for starting, best practices in designing, and methodology for developing and evaluating succession planning programs. Why Should Organizations Develop Succession Planning Programs? There are several reasons for developing Succession and Talent Management plans. The aging workforce in the United States, UK and Europe presents a significant challenge. Because of the recession bust, many planned retirements were placed on hold; however, that situation is more or less temporary. When this demographic group begins it s exodus, the labor market for upper level management and skilled technical positions will become very tight. When top talent is in short supply it becomes harder to retain their services. In addition, attrition from other sources such as life style changes, caring for elderly parents, rethinking career options, injuries, illness, death and others will further complicate the identification, acquisition and retention of key talent. All employers will concurrently seek experienced talent from the external labor market, leading to a sellers market for job seekers as employers bid up wages to attract the most qualified people (Rothwell 2003). The most recent Bureau of Labor Statistics projections predict that in the year 2008, the Baby-boom cohort was 44 to 62 years of age. By 2018 almost all boomers will be in the 55 and older age group. This group is expected to be nearly 40 million by 2018, an increase of 43%. (Toosi, Bureau of Labor Statistics 2009, p. 30). As this group of aging workers begins to move into retirement the work group to replace them is almost 50% their size. All indi- 4 PLS Consulting, Inc. 9011 SW Beaverton-Hillsdale
Succession Planning Who will lead your company tomorrow? cations are that this will leave a net vacancy of up to 5.7 million job unfilled by 2018. Some of the costs of replacing these individuals include hiring and training the new employees. Those costs exist, however, whether or not a succession planning program has been developed. The costs associated with not having a succession planning program are paying experienced retirees consulting rates to conduct knowledge transfer, expenses and lost time associated with hiring someone from outside of the organization (Fitz-enz, 2000), decreased employee morale as new leaders are not ready to lead, and a decline in stock value as the existence of a succession plan is increasingly important to investors. In a 2002 study by Success Profiles Inc., companies in the top 1/3 of leadership effectiveness showed revenue growth of 46.1% while companies in the middle and bottom thirds showed growth of 16.2% and 14.4%, respectively (Herman, Olivo, & Gioia, 2003). Jim Collins and his Good to Great research team concluded that of the seven characteristics common to great companies, two of them involve great leadership. These two characteristics are 1) great leaders in key positions, and 2) selecting the right people in key positions first, then determining the new vision and strategy with those people. How great are these companies? Their stock price performed an average of 7:1 over the general stock market 15 years after making the transition from good to great, and the companies sustained that performance even after key leaders retired or left the company (Collins, 2001). If that is not enough to inspire you to start a succession planning program, consider these other factors. An organization that can answer yes to any of the following questions should look seriously at building a succession planning program. In a 2002 study by Success Profiles Inc., companies in the top 1/3 of leadership effectiveness showed revenue growth of 46.1% while companies in the middle and bottom thirds showed growth of 16.2% and 14.4%, respectively (Herman, Olivo, & Gioia, 2003). 1. 2. 3. 4. 5. 6. Are there strategic areas of the business that are at risk of losing key talent and knowledge? Is it difficult to bring an outsider into the business and bring them up-to-speed quickly? Are the business units decentralized, thereby hiding potential talent that can fulfill key leadership positions (Roberts, 2002)? Are there high turnover rates in officer positions? Is there an unreasonable or unknown skill gap between officers and the next level of management? Are prospective employees asking about their career paths during the recruitment process? Hwy. Ste. 1A Portland, OR 97225 800.827.7576 www.pls.net 5
Critical Considerations for Designing a Succession Planning Program Succession planning programs require a variety of components to be successful. There are a few, however, that are critical to success. The program needs to start slow, include a comprehensive change management plan, be linked to the business plan and culture, utilize a holistic approach, and be measurable. Considerations for a Succession Planning Program 1. 2. 3. 4. 5. Start Slow Link to Business Strategies Build an Integrated Approach Use Change Management Include Metrics & Measures Starting slow means incorporating a limited number of positions in the program along with a limited set of candidates for those positions. The key reason behind starting with a smaller group is that outward and inward communication can be effectively managed. After the first rollout is complete, make the necessary adjustments from your lessons learned and begin rolling it out to the rest of the organization. The change management plan must be created before the program is launched to not only motivate employees to participate, but also allay fears of the process and results. Key employees should be interviewed prior to the development of the program to gain their insight, as well as begin to build their buy-in. The plan should include how to build buy-in to the competencies that are determined critical for each position, how to talk to the candidates and the rest of the company about the new program, and how to market the program to other stakeholders of the organization, particularly investors and customers. The first step in the development of any succession planning program is to ensure that the organization s strategy and objectives are clear to everyone involved in establishing the program. The next step is to link the program to those objectives, as well as the culture. Without these critical components, key positions may not be identified and competencies will not be aligned with the future of the company. Without this alignment, even the best succession planning process and candidates are doomed for failure. The program must be evaluated periodically, including both quantitative and qualitative measures. Typical measures include: Percentage of key positions filled by designated high-potential individuals; Percentage of key positions filled successfully (without avoidable turnover during the first two years in the position); Speed at which vacancies are filled for key positions; 6 PLS Consulting, Inc. 9011 SW Beaverton-Hillsdale
Succession Planning Who will lead your company tomorrow? Speed at which internal replacements for key positions are able to perform at the required level; Retention rate of high-potentials; Number of women and minorities as replacement candidates; Adherence to development plans; Exit interviews with high-potential individuals that leave the organization. (Rothwell, 2001; Beeson, 2000; Brunner, 2001; Best Practices, LLC). The succession planning program evaluation process should occur once per year, as well as before rollout to a new part of the organization. In addition to the metrics mentioned above, the evaluation should include ease of operation for both participants and administrators, sufficient support of qualified personnel, and integration with other HR systems. Most important, the program and job competencies need to be measured against the business plan and culture is there still alignment? Lessons learned need to be quickly incorporated into the program before the next period or rollout begins. The succession planning program is not only about identifying and developing candidates for key positions; it also involves integration with all aspects the talent management. An integrated approach includes identifying leadership competencies associated with key organizational strategies, isolating position-specific competencies through job profiles, linking these competencies into the selection system, including them in performance management and coaching activities, and making development solutions available to strengthen the needed competencies for a stronger leadership team at all management levels. It is also is critical to develop a process to ensure longterm sustainability for succession program. Here Board and Executive participation is needed to identify the financial and operational value anticipated from the program. Succession is strategic and therefore it must be considered part of the competitive fabric of the organization. When executives define the value to the organization in metrics of superior performance they then can monitor the program with an eye on performance success. One thing is for certain, what executives measure, get s done. Hwy. Ste. 1A Portland, OR 97225 800.827.7576 www.pls.net 7
Assign a senior manager accountability for the program. Use an open invitation to find candidates. Discuss reentry expectations before the job rotation is approved. Other Design Considerations A good succession planning program is complex and includes a variety of other key components, in addition to the critical ones mentioned above. Make the success of the succession planning program the responsibility of all managers, but give the accountability for administering the program to one person, the Succession Planning Program Administrator. This is a fulltime job that includes being a champion for the program, managing the process, ensuring information is captured correctly, measuring program results, and being a liaison to executives, the board, and the rest of the organization. Given the significance of these duties, it is best to assign this role to a senior manager who is well-respected in the organization. Use an open invitation for employees to apply for the program to minimize discrimination in selection, and ensure candidates are motivated and interested in being in a leadership position. If an organization does not choose this method, then a set of job relevant criteria must be established and used consistently to select the potential candidates from a large pool (i.e., avoid limiting the pool to the set of employees at a specific grade level). By expanding the selection, an organization will likely find enough employees with the inherent traits required to become leaders with only gaps in skills or knowledge that can be developed. In developing employees, consider job rotations in addition to mentoring, coaching, third party training, and internal training. NASA encourages job rotations in its Executive Potential Program because they provide opportunities for experiential learning in new tasks and functions, learning about the other organization s operations, and exposure to company-wide issues and decision-making processes (NASA, 2003, p.10). Lessons learned from NASA s program are 1) be careful with performance reviews in these temporary assignments because the individual may not have had sufficient time to show improved behavior in an area of development, and 2) be careful to discuss reentry expectations before the job rotation is approved. Organizations will typically fill the participant s job and it may not be available when he or she returns. Setting expectations prior to the start of the job rotation will alleviate the participant s anxiety and uncertainty about his or her future (NASA). Other factors to consider when establishing a job rotation are to ensure a diversity of roles available, plan ahead for job rotations of high-potential individuals, encourage lateral moves, include cross-functional job rotations, and involve company leaders in identifying opportunities (Best Practices, LLC). In its Best Practices Report, Best Practices, LLC describes a company that uses a 5 Minute Drill process to evaluate job rotations to ensure constant focus on the development needs of key employees. These drills identify candidates for available positions and are conducted by senior leaders at bi-monthly meetings, as well as direct reports of senior leaders within their organization (Best Practices, LLC). 8 PLS Consulting, Inc. 9011 SW Beaverton-Hillsdale
Succession Planning Who will lead your company tomorrow? Mentoring can be either an informal or formal process. Informal mentoring is achieved by communicating the program to employees and providing a method for mentors and protégés to meet. A formal mentoring process requires more administration to establish and track milestones to maintain accountability, ensure alignment between mentor and protégé, and communicate available development opportunities to participants (Best Practices, LLC). The timing for mentoring new managers is critical as well. Bell Atlantic has found that new managers need more functional training than mentoring. Therefore, they are provided 48 weeks of self-paced, distance, and classroom learning before they are assigned a mentor. Using this method, mentors can focus on providing opportunities to increase visibility for their protégés rather than teach them functional skills for their new position (Best Practices, LLC). Timing for establishing mentor relationships is critical. University programs and coaching tend to be provided by sources outside the organization. These are useful employee development tools when the resources do not exist inside the organization. The most effective third party training programs teach leadership skills as they relate to a particular industry and the challenges that industry will face in the future. Regardless of the development opportunities provided to employees, the most critical component is to follow through on the development plans. Involve the employee in the creation of the development plan, and incorporate the development plan into the formal performance appraisal process to ensure completion (Best Practices, LLC). In today s environment, no process would be complete without discussing the method of documenting and reviewing information. Candidate job history, performance appraisals, development plans, and goals need to be recorded in a secure yet easily accessible form. It is difficult to continue to track the information on paper once the number of positions included grows above 50 (Roberts, 2002). When selecting a software tool to support the succession planning program, consider that although succession planning is important to your organization s success, it is not its core competency. Therefore, these tools are great candidates for using an Application Service Provider (ASP) model. ASPs host the tool at their facilities and your employees are given access to the information through a secured link. Each employee is provided access with individual security permissions allowing the organization to maintain confidentiality. The ASP model reduces your organization s cost of maintaining the hardware and software required to store this information. Before implementing this tool, consider the following factors. Ensure development plans are completed each period. Consider an ASP software solution. Automate as soon it s appropriate, but keep the system easy to use. This will avoid the costs of mass entry of the data from hard-copy paperwork, as well as the costs of closing potentially significant and Hwy. Ste. 1A Portland, OR 97225 800.827.7576 www.pls.net 9
unnecessary gaps between the software and your previously defined process. Identify the program performance and operational reports before information is entered into the database. Knowing the information that needs to come out of the system will be critical to designing the information that goes into the system. Organizations should use the information not only to record each candidate s progress, but also to analyze factors such as trends in the program, gaps in specific skills, and availability of candidates for particular positions. Provide training to all employees that will be using the new tool. The old adage, garbage in, garbage out has its best application in database systems. 10 PLS Consulting, Inc. 9011 SW Beaverton-Hillsdale
Succession Planning Who will lead your company tomorrow? PLS Methodology for Developing and Evaluating Succession Planning Programs There are two distinct models that describe a succession planning program. The first is the process required to develop the program, and the second is the process utilized once the program has been implemented (the to-be process). Below is the model for the development of a succession planning program. Succession Planning Sy s t e m De s i g nmo d e l PLAN DESIGN DEVELOP IMPLEMENT EVALUATE Business Model Leadership Excellence Model Program Infrastructure Program Roll-Out Report Results Business Operational Model Business Model Environmental Scan Vision Values Strategic Imperatives Program Objectives & Measures Business Case Officer Planning & Involvement Define Metrics & Measures Identify Readiness & Implementation Leadership Excellence Model Leadership Competencies Functional Skills / Knowledge Industry Knowledge Infrastructure Elements Evaluation Tools Documentation Development Budget Evaluation Tools 360 o / 180 o Personality Performance Appraisal Documentation Tools Evaluation Tool Software Profiles Benchstrength Development Tools Internal Training Universities Mentoring/Coaching Job Rotation Training Leaders High Performers Support Staff Select, Evaluate & Plan Initiate for High Performers Conduct Evaluation & Document Individual Development Plans (IDPs) President and Executive Reviews Evaluate Program Success & Modify Compare Results to Objectives & Metrics Expand When Appropriate Communication Plan & Training Materials PLAN Business Model Business Operational Model Business Model Environmental Scan Vision Values Strategic Imperatives Program Objectives & Measures Business Case Officer Planning & Involvement Define Metrics & Measures Identify Readiness & Implementation Plan. The first steps in the design of any new program are the key to success. Experience has shown that no two organizations are exactly alike. To be successful, each program should take into account the unique variables that shape the business environment. The program and all of its components must be linked to the business plan and culture. Therefore, the first step in this phase is to review the business plan and strategic imperatives for the future of the organization. At the beginning of the project, give careful attention to the process owner or champion that not only is initiating the program, and the person that will be needed to Hwy. Ste. 1A Portland, OR 97225 800.827.7576 www.pls.net 11
sustain it during it s first few years. Provide this person (often a President or other Chief Executive) careful guidance about program components, options, pitfalls, expectations, and requirements. There is no evidence of any program being successful when not driven by a champion at the top of the organization. Next, interview key executives and employees to ensure that the program will be aligned with the organization s culture and to begin building buy-in to the initiative. Remember that if these individuals have not participated in a succession planning and talent management program, such an initiative will seem to be adding substantially to their workload and fears may exist accordingly. The best people to be interviewed are those that have the respect of their peers and other employees. In order to obtain candid input, the most effective interviewers are individuals outside of the organization. Develop the change management plan from these interviews, and begin executing this plan by communicating the program objectives and approach to all stakeholders. Carefully consider infrastructure tools that facilitate participant selection, development, and readiness tracking. Key questions must be answered about management s preferences, potential costs, and readiness. Evaluation Tools Development Tools Documentation Tools 360º Feedback Performance Appraisal Personality Assessment Internal Training University Programs Formal Mentoring Job Rotation or Assignment Documentation Software ÆÆ Job Competency Profile ÆÆ Growth and Development ÆÆ Bench Strength Charts Another important step in this phase is to identify the training requirements for support of the program implementation and operation. This may involve training in skills and knowledge such as the software tool, administration, mentoring/coaching, performance evaluations, and development planning. Lastly, this phase includes all of the typical activities of planning any project such as identifying the scope and task list, identifying project resources, and developing the schedule. 12 PLS Consulting, Inc. 9011 SW Beaverton-Hillsdale
Succession Planning Who will lead your company tomorrow? DESIGN Leadership Excellence Model Leadership Excellence Model Leadership Competencies Functional Skills / Knowledge Industry Knowledge Infrastructure Elements Evaluation Tools Documentation Development Budget Design. The design phase involves determining the size of the initial and successive rollouts. One of the critical success factors in rolling out these programs is to start small. Working with a limited set of positions and candidates allows the organization to work out the kinks in the program. The next step is to identify the leadership competencies and traits for each targeted position. PLS brings tools for profiling both functional and leadership competencies for each position on the leadership team. We bring a common list of competencies from which the leaders choose those that apply to their position and organization. Carefully isolate backgrounds, experience, and education that will be key to each position. This information will be used later in the developmental planning element of the program. Additionally, we encourage each leader to take a personality assessment test in order to confirm the most common and effective leadership and management traits. When combined, these elements create a strong position profile for each position that can be used to identify gaps that exist in any candidate or program participant. A final step in design is to determine how the program will be measured. It is important to document the program measures prior to the development phase in order for the proper reporting mechanisms to be developed. PLS encourages organizations to measure their program effectiveness in terms of cost avoidance, time to performance speed and replacement dollars in order to calculate the ROI on the program. DEVELOP Program Infrastructure Evaluation Tools 360 o / 180 o Personality Performance Appraisal Documentation Tools Evaluation Tool Software Profiles Benchstrength Development Tools Internal Training Universities Mentoring/Coaching Job Rotation Communication Plan & Training Materials Develop. The development phase involves a number of activities, such as: Acquiring or modifying evaluation tools, Selecting and implementing the software tool, Creating the developmental process components (internal training, university, mentoring, job rotation) Developing program training materials, and Training the support personnel. After these components have been designed, the soft- Hwy. Ste. 1A Portland, OR 97225 800.827.7576 www.pls.net 13
ware tool needs to be selected with the scope of the future program and the organization s future needs in mind. Selecting program candidates must be handled very carefully. PLS recommends that an open invitation to participate be extended to as broad an audience as is reasonable. Selecting the pool of candidates from these selfselected individuals is then best accomplished by developing a common set of criteria against which each candidate will be evaluated. Our experience suggests that this step is best handled by coaching the leadership team as they create high-performer selection criteria. Finally, the candidates need to be selected before the development phase because they will need training on how the program will operate. This is a relatively straight-forward phase in the project, but the bulk of the project time is spent here. Implement. The implement phase of the development model is the same as in the to-be process model. It is shown here for completeness, but the details will be described in the next section. IMPLEMENT Program Roll-Out Training Leaders High Performers Support Staff EVALUATE Report Results Evaluate Program Success & Modify Compare Results to Objectives & Metrics Expand When Appropriate Select, Evaluate & Plan Initiate for High Performers Conduct Evaluation & Document Individual Development Plans (IDPs) President and Executive Reviews Evaluate. Conducting a thorough review of the program at the end of each rollout is critical to the continued success of the program. Items to be reviewed include program effectiveness (i.e., operations and results) as well as program content (i.e., Have the correct leadership competencies been identified? Did the criteria facilitate selection of the correct candidates? Do we need to change the method or tools for evaluating performance and creating development plans?). After the first rollout, it is useful to have a third party facilitate this debrief session in order to ensure objectivity is maintained and candid feedback is received. The most changes and criticism will typically be received following the first rollout. The final step in the evaluation phase is to review the program results with the executive and the board, then communicate those results to the remaining stakeholders. 14 PLS Consulting, Inc. 9011 SW Beaverton-Hillsdale
Succession Planning Who will lead your company tomorrow? The Process as Implemented in the Organization After the program has been developed and the first rollout and review conducted, the process should be implemented each period as shown in the following to-be process model. Succession Planning To-Be Pr o c e s s Mo d e l PLAN Train IMPLEMENT EVALUATE Business Operational Model Identify additional positions to be included. Update change management plan and materials. Communicate program to employees and other stakeholders. Identify training requirements for supporting program. Leadership Excellence Model Select additional candidates, as necessary. Develop training materials, as necessary. Train new personnel. Training Assess competency gaps. Create and execute development plans. Review performance with candidate. Review candidate performance with manager and other leaders. Evaluate Program Success & Modify Review program operations. Confirm business model and strategic imperatives. Review and update candidate selection criteria. Review and update leadership competencies and traits. Update program structure with lessons learned. Review program results with executives and board, then all stakeholders. PLAN Business Operational Model Identify additional positions to be included. Update change management plan and materials. Communicate program to employees and other stakeholders. Identify training requirements for supporting program. Plan. This phase is similar to the planning phase during program development. The difference is that the change management plan only needs to be updated, and a project schedule does not need to be created. It is possible that additional training needs were identified in the debrief of the previous rollout; therefore, organizations should review such training needs in this phase. Hwy. Ste. 1A Portland, OR 97225 800.827.7576 www.pls.net 15
Train. Training will be similar to the initial rollout. It will likely involve additional employees and managers as more positions and candidates are involved in the program. Train Leadership Excellence Model Select additional candidates, as necessary. Develop training materials, as necessary. Train new personnel. IMPLEMENT Training Assess competency gaps. Create and execute development plans. Review performance with candidate. Review candidate performance with manager and other leaders. Implement. This is the heart of the succession planning program. Gaps for all candidates leadership competencies are evaluated, and development plans for closing the most critical gaps are created. PLS recommends conducting at least one interim review for each candidate in the middle of the period to assess progress. This requires commitment from each manager and employee involved, but it helps both parties maintain focus on the candidate s goals. It also serves as an opportunity to identify and remove barriers to achieving the goal (e.g., insufficient time in candidate s workload to attend training courses or unavailability of mentors). At the end of the period, candidates performance against their goals will be evaluated. This is also a good time to check in with the candidate to ensure he/she wants to continue in the program and to obtain feedback on the program s effectiveness. The last step in this phase is to share all of the candidates performance with the appropriate leaders in the organization. This will ensure continued support and focus on the program at the leadership level. Evaluate. The evaluate phase of the to-be process model is the same as in the development model. It is shown here for completeness, but the details were described in the previous section. EVALUATE Evaluate Program Success & Modify Review program operations. Confirm business model and strategic imperatives. Review and update candidate selection criteria. Review and update leadership competencies and traits. Update program structure with lessons learned. Review program results with executives and board, then all stakeholders. 16 PLS Consulting, Inc. 9011 SW Beaverton-Hillsdale
Succession Planning Who will lead your company tomorrow? Conclusion Succession planning programs mitigate the risk of losing key leadership and knowledge when employees retire or leave for jobs at other organizations. Succession planning also creates pipelines of future leaders, each aligned to the business strategy and armed with the competitiveness to make it happen. A successful program involves the current leadership in defining the objectives and determining the competencies for successful leaders. Additionally, the program is integrated into the complete human resources system as it is developed. Finally, it is sustained because the organization periodically measures its success and quickly adjusts when necessary. Who will lead your company tomorrow? About PLS Consulting PLS Consulting, Inc. (PLS) provides the services that ensure your workforce aligns to your strategic vision. In any changing business landscape, PLS helps link employee acquisition, development and retention processes into one cohesive system. PLS provides the tools, methods and infrastructure critical to a sustainable workforce strategy capable of meeting both current and future business requirements. PLS Consulting s approach is customer-centric with solutions tailored to the specific environment of the client. PLS is dedicated to delivering unanticipated quality with every engagement, through the development and delivery of systems that connect the Acquisition, Development and Retention of critically needed talent. Contact PLS Consulting, Inc. 9011 SW Beaverton-Hillsdale Highway, Suite 1A Portland, OR 97225 Phone: 1-800-872-7576 Email: info@pls.net www.pls.net Hwy. Ste. 1A Portland, OR 97225 800.827.7576 www.pls.net 17
References Rothwell, W. J. Effective Succession Planning: Ensuring Leadership Continuity and Building Talent from Within. 2nd edition. New York, NY: AMACOM, 2001. Roberts, B. Matching Talent with Tasks: Dole Implements Succession Planning to Get Ready for Changes at the Top. HR Magazine [On-line serial] 22 Nov. 2002. Rothwell, W. J. The Role of the CEO and Board of Directors in Succession Management. Unpublished manuscript, 2003. Michaels, E., H. Handfield-Jones, and B. Axelrod. The War for Talent. Boston, MA: Harvard Business School Press, 2001. Herman, R.E., T.G. Olivo, and J. L. Gioia. Impending Crisis: Too Many Jobs Too Few People. Winchester, VA: Oakhill Press, 2003. Fitz-Enz, J. The ROI of Human Capital: Measuring the Economic Value of Employee Performance. New York, NY: AMACOM, 2000. Collins, J. Good to Great. New York, NY: HarperCollins Publishers, Inc., 2001. Beeson, J. (2000, February). Succession Planning. Leading-edge Practices: What the Best Companies are Doing. Across the Board, 38-41. Brunner, K. Succession Planning A View from the Front. 19 June, 2001. Paper presented at The 2001 Succession Planning and Top Talent Development Seminar: A Toolkit for Change, Marina Del Rey, CA. NASA (2003). NASA Executive Potential Program. Best Practices, LLC. Best Practices Benchmarking Report: Career Path Definition and Succession Planning. Jusko, J. (2005). Unplanned Future. Industry Week. 254(3), 20. Retrieved May 5, 2005 from ProQuest. Toossi, M. Bureau of Labor Statistics, U.S. Department of Labor. Labor Force Projections To 2018: Older Workers Staying More Active. Monthly Labor Review, November, 2009. 2010 PLS Consulting, Inc. All rights reserved. No parts of these written materials, associate media, or other instructional components may be reproduced without the express written consent of PLS Consulting, Inc. 18 PLS Consulting, Inc. 9011 SW Beaverton-Hillsdale
Succession Planning Who will lead your company tomorrow? Hwy. Ste. 1A Portland, OR 97225 800.827.7576 www.pls.net 19