I was recently asked what key factors are important for determining whether an organization’s talent management and succession planning practices are successful? Here was my response:
- Build and have an actual strategy. Include KPIs in the beginning. Stay focused on the strategy.
- Design TM and Succession practices that are congruent with the organization, its business strategy and its culture; and integrated with other human resource practices.
- Build in accountability at all levels of the organization for the ownership and execution of the practices. Especially with the CEO.
- Collaboration with key stakeholders is critical throughout the entire process.
- Right size and scale the tools and practices for the organization. Leverage them vertically and laterally.
- Ensure it’s marketed and communicated to the organization as a leadership and management owned process and not just another HR initiative. Be as transparent at the organization allows.
- Maintain adherence to processes, rules, and definitions put in place for consistent application (ex. performance and potential). But, remain agile to allow for variables out of your control.
- Classroom training is not always the answer. Development can take place in many ways. Allow for failures and ensure learning happens from them.
- Have an entry and exit strategy for the talent pools you create.
- Build a talent mindset throughout the organization. Everyone is a talent manager. Everyone is responsible for their own development and direction they want to go.
What are your thoughts? What would you add?