Best Practices in Career Path Definition and Succession Planning
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.
Human Resources > Career Path, Succession, and Advancement
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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.
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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.
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|Achieving Superior Staffing Performance |
Staffing organizations are frequently faced with the challenge of managing the recruitment and selection of top talent while contending with a large volume of requisitions... (ID HR-56) |
Companies Profiled: Allstate Insurance Company, Sanofi-aventis, Chiquita Brands International, Amgen, more ...
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