succession planning final2
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Submitted To:M/s Shilpa Jain
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Submitted By:
Altamash Ali
Aashutosh Joshi
Divyanshu SharmaMBA 3rd(B)
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Succession planning is a process ofdetermining critical roles within the company,identifying and assessing possible successorsand providing them with the appropriateskills and experience for present and futureopportunities.
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Succession Planning Process
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Recruitment and staffing
Training and development
Performance and compensation management Talent management
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Succession planning must be an integratedHR process.
Identify what skills the company will requirein the future.
Identify critical positions in the company.
Identify high performers to step into thosepositions.
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Analyze the workforce for eligibleretirements.
A systematic approach for identifying,nominating and selecting potentialsuccessors must be established.
Succession planning must include a systemfor providing feedback and encouragement to
successors.
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Engages senior management in a disciplinedreview of organizational talent.
Guides development activities of staff.
Brings HR systems into alignment.
Assures continuity of key positions / Avoids transitionproblems.
Assures new managers are prepared for their jobs.
Focus on Organizational Effectiveness.
Less time and expense to source talent to fill. The individuals identified in the plan will eventually be
responsible to tackle future challenges.
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The organization is prepared to deal with sudden
losses of key people.
Less turnover. It will help the company to create future potential
leaders.
Succession planning helps company "build bench
strength."
It helps company to decide where people belong on
the bus.
To retain superior employees because they appreciatethe time, attention, and development that company is
investing in them.
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Succession Planning vs.
Replacement Planning
Replacement planning: is about immediate needs, a
point in time assessment of the availability of key
back-ups who can step in and contribute quickly
Succession planning: is concerned with longer range
needs and the development of talent to meet those
needs.
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Career Planning:- Career is nothing but a bunch
or collection of jobs or
positions, and it generally
describes an applicable careerpath within the organizational
structure. By defining
careers, employers can define
the principal personnel
development paths within the
organization.
It is done for all position.
Succession Planning:- Proper succession planning
ensures that there is a
continuous availability of
qualified personnel so thatthe organization can run
smoothly without
disruption.
It done for critical position.
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Step 10Evaluate Results
Step 9Establish Individualand Organisational
Accountability
Step1Clarify CEOsExpectations Step 2
EstablishCompetencyModels
Step 3Conduct Multi Rater,
Full Circle Assessment
Step 4EstablishPerformance
Management System
Step 8Establish a TalentInventory
Step 5Establish PotentialAssessment
Step 7Implement IndividualDevelopment Plans
Step 6Establish a means of ongoingIndividual Development Planning
A Step by Step Model
to establish andmaintain a
Succession Planning
Program
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Succession Planning Software (EmpXtrack)
Allows identification of key positions in the organization
and their mapping to required skills, competencies, jobdescriptions, qualifications and experience profiles.
Facilitates identification of employees who meet the
requirements for these key positions. Sophisticated
search mechanisms are available for this.
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Attempt Succession Planning Without Other StrategicPlans
Procrastinate
No goals Sell to an Insider
Ignore Training
Keep Succession Plans a Secret
Develop a Succession Plan Once
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CASE STUDIES:
.TATA Group
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Succession planning of Tata group Born on December 28, 1937 Graduated with a degree in Architecture and Structural Engineering from
Cornell University.
Also completed advanced management programme at Harvard BusinessSchool.
Appointed the Director-in-Charge of The National Radio & ElectronicsCompany Limited (Nelco) in 1971.
Became the Chairman of Tata Industries in 1981.
Took over as Tata Group Chairman in 1991.
When Ratan Tata turned 75 he has to announce his successor. and it was atough & a time consuming process for selection committee to find a
successor of the caliber who can manage business group. The selection committee took 15 months time to identify the successor for
Ratan TATA.
Five-member panel to pick Ratan Tatas successor formed
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1. Long run wayLeadership Continuity for next 25
years.
2. TATA Group Ethos ( similar to level 5 leadership -
personal humility and professional will)
3. Experienced in handling Similar size, scale, scope,
complexity (Diversified portfolio management)
4. Shareholders / Stake holders acceptance
5. Commitment to philanthropy
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Year operating company Person holding Successor Age
Source of successor:-
2006 Tata housing N/A Brotin Banerjee 35 Within the TATA Group
2008 Tata chemicals Mr. Khusrokhan R mukundan 42 Within the company
2009 TCS S. Ramdurai N. chandrasekaran 46 Within the company
2010 Tata Tele Anil Sardana Srinath N 45 Within the company
2011 Tata commu Srinath N Vinod kumar 45 within the TATA group
2012 TATA group Ratan TATA Cyrus Mistry 43 Within the TATA Group
Source:- http://sureshine.blogspot.in/2011/12/succession-planning-for-
corporate-india.html
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"I don't want to leave the company in a wheel chair or in abox," Ratan Tata told a television news channel in an
interview.
"The company is not pushing me out. It is my desire," he said.
"I have chosen to stay off that (search) committee... the
committee has the freedom to examine and not have anyone
feel that I am driving the succession plan," Ratan Tata said.
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Ratan Tata, who will retire as chairman in December, 2012,
said that he "is looking forward to freedom to find time to do
things that I always wanted to do".
The selection process for a prospective candidate would
consider suitable persons from within the Tata Companies,other professionals in India as well as persons overseas with
global experience., he said.
The successor, I would hope, would have integrity and ourvalue systems in the forefront and hopefully would carry on
the path that we have tried to set for the companys growth,
Mr Tata had observed.
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Success will sustain and grow only when it ispassed on into safe hands and this is where theseed of succession planning takes its roots.
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