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Key Person Risk and Succession Planning Workshop

How management teams can quickly and collaboratively develop succession plans for your their people

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Key Person Risk and Succession Planning Workshop

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  1. MANAGING SUCCESSION PLANS KEY-PERSON RISK

  2. Nobody likes to think about losing a key person on their team

  3. However, doing so is critical

  4. Because unexpected things happen from time to time

  5. And, unless you’re ready to replace a high performer, it is hard to give them the promotion they deserve

  6. So succession planning for key-person risk should be a regular (quarterly) process for all people managers

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

  8. The following slides should take no more than 90 minutes once a quarter as a team to work through

  9. STEP ONE DECIDE WHAT YOU MEAN BY LIKELIHOOD

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

  11. ACTIVITY ONE As a management team, brainstorm what factors correlate to likelihood

  12. Brainstorm ideas: Likelihood Personal Happiness. Is the person happy in their role? Personal Happiness. Is the person happy at home? Career Fit. Is the person in a role that is suited for them Compensation Is the person satisfied with their comp? Success Is the person having success? Are they feeling recognized?

  13. STEP TWO DECIDE WHAT YOU MEAN BY IMPACT

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

  15. ACTIVITY TWO As a management team, brainstorm what factors correlate to impact

  16. Brainstorm ideas: Impact Subject Matter Does this person have unique, needed skills Customer Impact. Does the person have a key role with a key customer? Relationships Does this person have a unique, needed network? Contagion Will this person leading cause others to leave? Success Is the person having success? Are they feeling recognized?

  17. STEP THREE RATE OUR TEAM MEMBERS AGAINST LIKELIHOOD AND IMPACT TO DERMINE WHO ARE KEY PEOPLE

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

  19. ACTIVITY FOUR Next, 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

  20. NEED A PLAN PLAN IS OPTIONAL NO PLAN NEEDED Jones Kaye Collins LIKELIHOOD Fell Mingus Clarke Lee Claypool IMPACT

  21. STEP FOUR DECIDE WHAT IT MEANS TO HAVE A GOOD SUCCESSION PLAN

  22. ACTIVITY FIVE As a management team, agree on what makes a great plan

  23. Brainstorm ideas: Plan Quality Multiple successors to choose from Readiness of successor Successors have Development Plan Successors have Mentorship

  24. STEP FIVE RATE YOUR KEY PEOPLE AGAINST PLAN QUALITY

  25. ACTIVITY SIX For those team members who require a plan, rate the quality of the plan

  26. ACTIVITY SEVEN Next, use the Key Person grid to tag Plan quality

  27. NEED A PLAN PLAN IS OPTIONAL NO PLAN NEEDED GOOD PLAN PLAN W/SOME RISK POOR/NO PLAN Jones Kaye Collins LIKELIHOOD Fell Mingus Clarke Lee Claypool IMPACT

  28. STEP SIX BUILD OUT YOUR GO-TO-GREEN PLAN

  29. ACTIVITY EIGHT As a management team, figure out how to turn all Key-Person plans to green

  30. SHARE THIS DECK & FOLLOW ME (please-oh-please-oh-please-oh-please) stay up to date with my future slideshare posts Please note that all content & opinions expressed in this deck are my own and don’t necessarily represent the position of my current, or any previous, employers http://www.slideshare.net/selenasol/presentations https://twitter.com/eric_tachibana http://www.linkedin.com/pub/eric-tachibana/0/33/b53

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