Succession Planning

Identifying & Developing Top Talent for Critical Roles

“We hired LSA Global to help our long-term client identify root causes and develop an action plan for improving their leadership bench strength in face of high attrition and a changing marketplace. LSA’s succession planning expertise was a 10-out-of-10.

Their recommendations in the areas of attracting and recruiting the right talent, hiring and promoting the best talent, employee development, performance management, knowledge management and succession planning were right on target. I would recommend LSA to anyone looking to take their talent management practices to the next level.”
Director | Risk Advisory Services | Global Audit, Tax and Consulting Firm

Successful organizations make sure that they have the right people in the right positions to propel the business forward.  That includes building internal bench strength, filling the talent pipeline, and being prepared for planned and unplanned personnel changes. Done right, succession planning should be the fastest, cheapest and most reliable way to get well-qualified talent into open positions.

Unfortunately, very few companies have an effective or strategic succession planning process.

Succession planning is a critical component of an overall talent management strategy which aims to attract, develop, engage and retain top talent to execute the business strategy in a way that aligns with the organizational culture.

Succession planning focuses on identifying and developing internal talent with the potential to fill key business leadership positions in the organization. Succession planning increases the availability of experienced and capable employees through effective development of the high-potential employees, so that they are prepared to assume leadership roles as they become available. Done right, succession planning helps build the bench strength to ensure the long-term health, growth and stability of an organization.

Effective succession planning typically includes five major steps:

1. Identify Key Metrics to Move: Succession planning projects should start with clearly defined, relevant, meaningful and agreed-to success metrics that align with the overall business and talent strategies.  That means fully engaging your stakeholders to get the proper level of buy-in and alignment compared to other business priorities. Typical stakeholders include the Board of Directors, Chief Executive Officer, the Chief People Officer and the Head of Talent, Senior Executives, front-line managers, and employees.

2. Define Critical and Strategic Jobs – Now and in the Future: Once success metrics have been defined, it is time to identify your most critical and strategic roles to ensure success today and in the future based upon your strategic business plan and key assumptions about the future.  The goal is to get clear agreement and alignment about the critical few difference-making roles.

3.  Define Core Competencies – Now and in the Future: Once you have agreement on your most critical and strategic jobs, the next step is to clearly define the most important current and future competencies, skills, knowledge, behaviors, attitudes and experiences necessary to succeed in those roles.  Once again, less is more in this stage.  Look for the critical few that matter most for your unique situation, not an exhaustive list.

4. Conduct a Talent Review: Based upon the metrics to move and the desired current and future competencies, the next step is to review your current talent and jobs to understand the performance, potential, aspirations and issues with your current workforce and organizational structure.  The objective is to identify talent and structure strengths and weaknesses, spot and groom high potentials early, mitigate retention risks, and establish talent pools by levels based on the strategic strengths of the organization.

5. Create a Succession Plan:  After you have mapped your current and future talent gaps, it is time to create and execute a succession plan for consistently identifying and developing targeted internal talent with the potential to fill key business leadership positions in the organization.  This includes ensuring that you create structured development plans and curated development experiences to truly prepare your talent for the future. Targeted development plays a critical role in succession planning and often gets overlooked or is not fully implemented.

The entire succession planning program should be reviewed and adjusted (typically annually) in concert with the overall business and talent strategic planning processes.

Ask us about Leadership Development Pay-for-Performance options and how to move the leadership metrics that you care most about.  Typical metrics that we move include:

  • Sales revenue, margin, win rate, portfolio mix, deal size, and sales cycle.
  • Customer acquisition, loyalty, growth, and satisfaction.
  • Leadership execution effectiveness of key corporate strategies.
  • Employee attraction, development, performance, engagement and retention.
  • Project cost, quality, and time.

Related Information

As a high growth digital marketing agency with cutting edge talent, we hired LSA Global to help clarify our strategy and work with our executive leadership team to help implement strategic changes in a way that made sense for our unique culture. The work was so successful that we also hired them to coach our key leaders. LSA has been instrumental in helping us transition to a new leadership team and triple revenue. In this age of useless consultants, I highly recommend their practical and business-oriented approach to strategy, culture and talent.

David Bentley
General Manager

AKQA

Hyperion has a commitment to lifelong learning. LSA helps us provide the right business sales training, management training programs, and leadership development programs at the right time to meet the needs of both individuals and departments. I especially appreciate their ability to listen to my needs and recommend the appropriate facilitators, solutions and content.

Sarah Parks
Senior Project Manager

Hyperion

LSA demonstrated the criticality for executives to look beyond current ethics topics and focus on applying fundamental values in everything they do to demonstrate true leadership. They successfully delivered in two hours what most leadership development presenters would spend an entire day trying to communicate.

Nick Voyvodich, SPHR
HR Manager

Fujitsu

Redwood Trust looked to LSA Global as a consulting partner to help us explore innovative and scholarly approaches to promote employee engagement and sustain the unique culture we’ve built over the last decade.  LSA helped us perpetuate coaching as a discipline across the organization by integrating our core values, goal setting and performance management under an interactive coaching program.  We appreciate LSA’s commitment to cutting-edge practices to help keep us a step ahead during this time of rapid change.

Rosalyn Chan
Vice President, Human Resources

Redwood Trust

The customized leadership program was very practical and achieved our goals. LSA adapted very well to our group and the situation and helped us build trust and awareness of successful leadership styles. We look forward to the next steps.

Erik Okholm
Director of Software Development

We recently hired LSA to help us take our client delivery methodology to the next level as we continue to grow and help our clients succeed. The custom strategy and design session exceeded our expectations. They really understood our business and delivered within tight time frames.  They were the best I have seen for this type of complex, visible and strategic work. LSA’s ability to get a group of 20+ executives from around the globe on the same page, push their thinking to new heights, and ensure an executable plan was excellent. I would recommend LSA to anyone looking to take their strategy and strategic execution to the next level.

Rob Sturgeon
EVP Client Delivery

Service Source

The action-learning leadership project has been very beneficial to me, our leadership team, and the entire organization. The balance of development and results has been excellent. We have made huge progress, and I was also able to identify 2-3 high potentials while having the extra benefit of people stepping up to carry key strategic projects forward. The Staff is very appreciative and has become very comfortable with both the program and the process. The experience was better than anticipated.  I could not be more pleased.

Heather Feltman
President & CEO

LSS

LSA’s approach has certainly brought value to Knight Ridder Digital. They were laser focused on our goal and determined to meet all of our Leadership development program needs. Their flexibility and commitment were keys in making our program successful.

Dipik Rai
Director of Marketing

We reviewed the top Leadership Development offerings and selected LSA’s 12-month Leadership Program based upon the value and systemic approach. The feedback on the program, approach, and results was phenomenal. While other programs may be better known, they were more theoretical and did not compare in terms of practicality, quality, and results.

Stacey Porter
Senior Manager Learning and Development

Roche

I continue to be impressed by the level of leadership development, management expertise, and quality of advice and facilitation that LSA has to offer. What a smart and client-centric group of great people who really know how to help leaders attract, engage, develop and retain top talent.

Tracy Esposito
Director, HR Business Partner

You have become our premier change leadership strategic partner. Your expertise in the human side of change is unparalleled and enabled our company to successfully implement our ERP Solution under challenging and ever-changing circumstances.

Ted Ramlet
CIO & SVP

McKesson

I contacted LSA to help us with leadership development. LSA worked with me to identify a solution that would match our needs as well as our personality. The solution was such a huge success. It received rave reviews. I would highly recommend LSA to other companies.

Karen King, SPHR
Manager, Human Resources

Alliance Data

We value our relationship with LSA Global. They focus on understanding our business situation and helping us succeed. LSA continues to deliver top quality consulting and leadership solutions that are highly customized for our business and culture. I would highly recommend LSA Global as a top quality resource to anyone looking to greatly improve the skills of their leadership, management, and project teams.

Bonnie S. Olson
Vice President of Human Resources

LSS

Over the years, both at 3Com and now at Redback, I’ve found LSA Global to be a valuable partner. The recent management programs that they delivered for Redback’s executive and management teams was the right solution, of the highest of quality, and customized to fit our business and culture. I would highly recommend LSA to any company looking for top quality solutions.

Gina Fulton
Vice President of Human Resources

LSA helped us design and deliver a blended learning solution for our leaders to help drive our growth plans in a way that aligned with our specific culture and values. LSA understood our business, had deep expertise in the content areas, tailored the programs to fit our specific needs, and delivered great results. They constantly strive to deliver business impact and align their solutions with our business initiates, culture, and performance management systems. I highly recommend them to anyone looking to take their leaders to the next level.”

Beth A. Taylor
Vice President of Human Resources

Thoratec

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