Diversity Plan

790 Words4 Pages
Diversity Plan BA500 Management Diversity Plan Succession management is the planning, execution and ongoing management of a company’s critical future talent needs. The focus is on developing today’s talent into tomorrow’s leaders. Here are five important steps to consider when building a successful succession management strategy. Step One: Assess your business strategy and define your leadership objectives. The process must begin with an assessment of your organization’s current and future business strategy. Understanding your competitive position in the marketplace, along with your growth goals, allows for better clarification of future leadership needs. Step Two: Develop the model for an integrated talent management system. You…show more content…
In Step Three, you begin to assess and identify people with the most leadership potential. To be certain the process is objective, and to avoid overlooking those not currently in management roles, validated psychometric assessments should be used along with current performance data. Casting a wide net ensures that you do not miss promising people at any level of your organization. Current employees will be rated against the established leadership competencies, and individual gap analyses will be used to determine their developmental…show more content…
Leadership development needs to be a continuous process, not a series of one-time events. People can make behavioral adjustments and develop new skills if they are motivated and provided with the required resources and support. Developmental learning has a greater and more lasting impact than conventional training, since individuals in your talent pool are expected to grow and see their growth measured over time. During this phase, specific strategies to address your particular business needs can be implemented – including, but not limited to action learning, executive coaching and team-based projects. The definition of “succession planning” seems to have lost its meaning lately, with employers downplaying its importance, or practicing it on only a superficial level. Succession planning can often be found only at the lower end of HR’s priority list. There is often an assumption that career progression for some employees is still too far in the future to begin considering. The cost of developing a new generation of leadership, particularly in the economic downturn, is another
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