Thoughts On Succession And Career Planning
Happy Friday! Today’s topic is succession planning. Do you know if your company has a succession plan? If succession planning has been on the back burner for your team or company, now is the time to do a quick & dirty talent review. Here are more ideas on succession planning from HP and Vir (a major biotech company), plus a question to ask yourself about your own career planning.
HP:
Process: We normally have a rigorous process but we can't do that this year. This year the CHRO/CEO will probably do a down and dirty talent review that we take to the board. No big exec meeting and process.
Skills: We are asking ourselves whether we have the people with the skills we need right now.
Focus: We have pivoted the HR team to focus on employee engagement. (Bijal’s trivia question: which role in a company has the greatest impact on an employee’s engagement level? Answer below.)
Vir:
Process: If we followed our normal talent review / succession planning process this year, it would feel tone deaf. We aren't going to do that.
Focus: Instead we are looking at how we want our leaders to show up.
On a personal level, have you stopped to do your own strategic planning for the future? If not, now is the time to use this opportunity to reflect…what changes related to work and life would give your life more meaning, fulfillment, stability? If you want a suggested structure and a safe space to explore, please reach out.
And to answer the trivia question: which role in a company has the most impact on an employee’s engagement? Most people guess the CEO or head of the department, but research from Gallup shows that the employee’s Team Leader (manager, boss, or other title depending on the company) exerts the most influence (70%). They have the most consistent interaction (or should) with the employee, including 1:1 conversations to touch base. How often should the Team Leader be doing a 1:1 check-in? What 5 questions should the Team Leader ask for the most engagement?
Have a great weekend!