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

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

Gina Fulton
Vice President of Human Resources

We selected LSA Global over 5 other companies to help our key executives improve their overall communication and executive presentation capabilities. LSA exceeded our expectations. Everyone had a great experience and are now incorporating the lessons into their teams. I highly recommend LSA to any executive team looking to better organize and more effectively deliver key executive-level messages when the stakes are high.

Todd Power
Office of the CEO

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

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 strategic projects forward. The Staff is very appreciative and has become very comfortable with both the program and the process. It is still going better than anticipated, and I have been very pleased.

Heather Feltman
President & CEO

LSS

The customized leadership styles and coaching program was the best training that I have ever attended. The facilitators were phenomenal. They have a wealth of experience and knowledge coupled with compassionate and caring styles. I’d highly recommend this leadership training program to any manager, director, or executive looking for a life changing leadership program.

Shoaleh Ghaffari
Director, HR

Cutera

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

We signed up with LSA early on–as their 22nd Member! Since then, our organization’s learning needs have increased and decreased and increased again with the changing times. The beauty of the LSA business model is its flexibility…when we needed to supplement our own internal resources, we used LSA services knowing that we could depend on the outstanding quality of the leadership development and management training programs they provide.

Margie Bunting
HR Manager

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

LSA Global has been a great partner in helping ServiceSource move toward its Vision of being “the leading developer of talent in the service performance management industry.” I have engaged LSA’s services to help develop best-in-class programs in the areas of: Executive On-boarding, Manager Training, Sales Training, Employee Engagement and Instructional Design. They have consistently met or exceeded my (very) high expectations and are always responsive to my needs.

Mike Normant
Senior Director, Training & Development

Service Source

Great job in designing the Mergers and Acquisition strategy session for our global team. The executive presentation and information was excellent. I gained additional insight on the importance of the role of HR in Mergers and Acquisitions.

Gloria Veon
Senior Vice President, Human Resources

Fujitsu

I continue to be impressed by the level of leadership development and 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

LSA is an excellent training outsource partner! They listen to our needs, are responsive and work at a pace that keeps up with ours. We have found LSA to bring strategic and innovative solutions to meet our business problems by partnering effectively with our staff. I consider them to be an external extension of our team.

Wendy Chinn
Sr. Director, Global Sales Enablement

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

We have had a very beneficial partnership with LSA for over 2 years. The recent Leadership Development Program that they designed and customized with us to help us identify, develop, and retain top leaders in the organization was a huge success. It was instrumental in helping take our company and our key people to the next level. I would recommend their training and consulting services to anyone looking to develop and retain top talent.

Steve Janowsky
Vice President of Operations

Proxicom

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

Evaluate your Performance

Toolkits

Toolkits

Download key published insights and tools from industry experts highlighting best practices in the areas of talent, strategy and culture.

More

Health Checks

Health Checks

Want to know how you stack up against leading organizations?  Receive a complimentary benchmarking analysis courtesy of an LSA Expert.

More

Whitepapers

Whitepapers

Get up to speed on timely solutions critical to your business. Published by LSA Experts based upon client feedback and key industry trends.

More

Methodology

Methodologies

First we identify the key metrics you want to improve. Then we assemble a dedicated team of elite experts who have successfully solved similar problems with similar clients.

More

Blogs

Stay up to do date with the latest information on how we help high growth companies align their culture and talent with strategy.

More

Case Studies

Client Case Studies

Real world consulting and training approaches from LSA projects, providing insights on how your company can outperform the competition.

More