key person risk and succession planning workshop

MANAGINGSUCCESSION PLANS

KEY-PERSON RISK

Nobody likes to think about losing a key person on their

team

However, doing so is critical

Because unexpected things happen from time to time

And, unless you’re ready to replace a high performer, it

is hard to give them the promotion they deserve

So succession planning for key-person risk should be a regular (quarterly) process

for all people managers

But it doesn’t have to be a drag. It can be a fast, agile, collaborative process if it is

done well

The following slides should take no more than 90

minutes once a quarter as a team to work through

STEP ONEDECIDE WHAT YOU MEAN BY

LIKELIHOOD

To understand risk, you must first understand how likely it is that the risk will

manifest

ACTIVITY ONEAs a management team, brainstorm what factors correlate to likelihood

Career Fit.Is the person in a role

that is suited for them

Personal Happiness. Is the person happy

in their role?

Personal Happiness. Is the person happy

at home?

CompensationIs the person satisfied

with their comp? SuccessIs the person having

success? Are they feeling recognized?

Brainstorm ideas: Likelihood

STEP TWODECIDE WHAT YOU MEAN BY

IMPACT

To understand risk, you must also understand how great the impact will be if

the risk manifests

ACTIVITY TWOAs a management team, brainstorm what factors

correlate to impact

RelationshipsDoes this person have

a unique, needed network?

Subject MatterDoes this person have unique, needed skills

Customer Impact.Does the person have a key role with a key

customer?

ContagionWill this person

leading cause others to leave?

SuccessIs the person having

success? Are they feeling recognized?

Brainstorm ideas: Impact

STEP THREERATE OUR TEAM MEMBERS AGAINST LIKELIHOOD AND IMPACT TO DERMINE WHO

ARE KEY PEOPLE

ACTIVITY 3: Rate your team members: 1-3 are low risk, 4-6 are medium risk, and 7-9 are high risk

ACTIVITY FOURNext, use the Key Person

grid to plot the results visually. This will help you

see who is a key person and needs a succession plan

Jones

LIKE

LIHO

OD

Clarke

Fell

Claypool

Kaye

Collins

Mingus

NEED A PLAN PLAN IS OPTIONAL NO PLAN NEEDED

Lee

IMPACT

STEP FOURDECIDE WHAT IT MEANS TO HAVE A GOOD SUCCESSION

PLAN

ACTIVITY FIVEAs a management team, agree on what makes a

great plan

Multiple successors to choose from

Readiness of successor

Successors have Development Plan Successors have

Mentorship

Brainstorm ideas: Plan Quality

STEP FIVERATE YOUR KEY PEOPLE AGAINST PLAN QUALITY

ACTIVITY SIXFor those team members

who require a plan, rate the quality of the plan

ACTIVITY SEVENNext, use the Key Person grid to tag Plan quality

Jones

LIKE

LIHO

OD

Clarke

Fell

Claypool

Kaye

Collins

Mingus

NEED A PLAN PLAN IS OPTIONAL NO PLAN NEEDEDGOOD PLAN PLAN W/SOME RISK POOR/NO PLAN

Lee

IMPACT

STEP SIXBUILD OUT YOUR GO-TO-

GREEN PLAN

ACTIVITY EIGHTAs a management team, figure out how to turn all

Key-Person plans to green

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