5. Succession Planning Meeting
In a Succession Planning meeting, the leadership team reviews the initial succession plans developed by leaders and HR.
They:
Review organizational charts
Review role requirements at a high level
Review the proposed succession plans
Discuss the readiness of candidates on the succession plans and adjust as necessary
Add candidates from other areas who may have been missed
Review diverse candidates
Review cross-functional moves
Review and agree to required development activities
After the meeting, HR updates the Succession Planning templates and notifies managers of which of their direct reports are on succession plans.
6. Feedback to Successors
Provide feedback about succession plan status to your direct reports who are on succession plans. Follow the guidelines described for the People Review Feedback Conversation. Emphasize the developmental aspect.
7. Tracking and Measurement
HR is developing the infrastructure to track the effectiveness of succession plans with several metrics:
Conversion rate: The rate at which positions are filled from succession plans.
Assessment of “goodness of fill”: The success of people moved into roles through succession planning
Review of the pace of successors moving through the readiness categories: E.g. Are people designated as “ready in 2-3 years” actually ready 2-3 years later?
Diversity success rate: The degree to which diverse employees are being successfully moved into roles through Succession Planning.
Improvements in succession year over year: Trends in succession strength.