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Best Practices in Career Path Definition and Succession Planning

      
      

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 23 Info Graphics
 108 Best Practices

Pages: 106

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Best Practices in Career Path Definition and Succession Planning

ID: HR-50

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Manage your "corporate benches" to meet company needs with successful career path and succession planning systems. This report will enable companies to design and implement successful career path and succession planning systems. As executives seek to manage their own "corporate benches" to meet company needs, it is critical that they identify and implement the innovative systems and practices that other top companies have used to drive performance.
Industries Profiled:
Computer Hardware; Telecommunications; Consumer Products; Chemical; Energy; Pharmaceutical; Manufacturing; Financial Services; Computers; High Tech; Electronics; Internet; Insurance; Newspapers; Professional Services; Defense; Health Care; Automobile

Companies Profiled:
Ames Rubber; Apple Computer; AT&T; Benchmark Partners; Black & Decker; BP Amoco; Chevron; Clorox; Dow Chemical; Eli Lilly; General Electric; GE Capital; GlaxoSmithKline; Hewlett-Packard; Intel; John Hancock; Knight-Ridder; KPMG Peat Marwick; Levi-Strauss; Lockheed Martin; Los Angeles Times; Lucent Technologies; Merck; Motorola; Novartis; PacTel; Raychem Corp.; Saturn; SBC; Verizon

Study Snapshot

This Best Practices Benchmarking® Report examines Career Path Definition and Leadership Development with the goal of enabling companies to design and implement successful career path and succession planning systems.  As executives seek to manage their own "corporate benches' to meet company needs, it is critical that they identify and implement the innovative systems and practices that other top companies have used to drive performance.

Key Findings

This study is comprised of an executive summary, several chapters of best practices, and individual corporate profiles analyzing selected companies surveyed.

Best Practice Areas Include:

  • Career Path Advancement
    -  Designing Career Path Definition and Succession Planning to Meet Specific Corporate Needs
    -  Career Path Definition and Succession Planning Management
    -  Identifying Candidates for Succession Planning
  • Employee Development
    -  Planning for Individual Development Success
    -  Resources for Leadership Development
  • Evaluating, Reviewing and Refining
Sample Best Practice

Weight key leadership characteristics according to company culture and values.
Each exempt employee at a global financial & consumer services company receives a Leadership Review once a year. This Review contains several key components that reflect the corporate culture and values:

    • Corporate values – Competencies are critical at this global financial & consumer services company. However, as the CEO has noted in the company’s annual report and in numerous speeches, the company’s values are more critical. Reflecting upon the match between managerial competencies and corporate values, he has identified four types of managers, according to two dimensions. Type I managers perform well and reflect the company's values, while Type II managers reflect the company’s values but do not perform as well. The company is highly interested in retaining both types of managers, seeking to improve performance of Type II managers. Type IV managers do not perform well or reflect the company’s values – the company seeks to move them out when possible. The company has also made the decision to retrain or remove Type III managers, who perform well but do not reflect the culture. This decision sums up the requirement that its managers reflect the company’s values and corporate culture.
    • High achievement – The company stresses the importance of "high achievers" – those who are successful wherever they go. The company’s high achievers also seek improvement and self-development to move forward quickly.
    • Interest in advancement – Another key factor that the company looks for in its "high potentials" is the desire to perform leadership tasks. Its Leadership Review forms, filled out by the individual employees, seek to identify individuals’ interests and match them to positions.
    • Past performance – Past performance is heavily weighted in the culture and in the performance review process.
    • Promotion record – Promotion record still has impact but counts for less than it previously did. The company’s culture once expected movement at least every 18 months; now, it focuses more on people staying and seeing their individual projects through to the end.

Table of Contents


Executive Summary

    •  Project Background
    •  Project Findings
    •  Report Structure and Organization

Chapter 1: Best Practices in Career Path Definition and Succession Planning
    •  Career Path Advancement
    •  Designing Career Path Definition and Succession Planning to Meet Specific Corporate Needs
    •  Career Path Definition and Succession Planning Management
    •  Identifying Candidates for Succession Planning
    •  Employee Development
    •  Planning for Individual Development Success
    •  Resources for Leadership Development
    •  Evaluating, Reviewing and Refining
    •  Individual
    •  Corporate

Chapter II: Corporate Succession Planning Profiles
    •  GE Capital
    •  GlaxoSmithKline
    •  Clorox Company
    •  Eli Lilly
    •  Lockheed Martin
    •  Novartis
    •  Bell Atlantic
    •  Lucent Technologies

List of Charts & Exhibits

Performance/Potential Grid
Focus: The Executive Development Process
Succession/Mentor Program Position Expectations Planner
Succession/Mentor Program Personal Prescription
Developmental Needs
Employee Development Action Plan
Developing Employee Leadership
Leadership Through Quality Standards at Xerox
On the Job Training Acting Role Mentor
Eli Lilly Development Model
Mentor/Protégé Alignment
Mentor/Protégé Agreement
Monitoring Satisfaction with Advancement & Recognition Programs at Xerox
GE Capital Model
GlaxoSmithKline Model
Clorox Company Model
Eli Lilly Model
Lockheed Martin Model
Novartis Model
Bell Atlantic Model
Lucent’s Leadership Behaviors
Lucent Technologies Model

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