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Succession planning

Summary of postings

Succession planning Claire Poole 10 Mar 05
Re: Succession planningKaren Smith8 Apr 05
Re: Succession planningTony Granger16 Jul 05
Re: Succession planninggeoffrey pilgrim28 Oct 05
Re: Succession planningClare Young1 Nov 05
Re: Succession planningJohn Shenton8 Nov 05
Re: Succession planningJOG8 Aug 07
Re: Succession planningKeith McDougall16 Aug 07
Re: Succession planningCathy McCabe16 Aug 07
Re: Succession planningcarole Harden15 Sep 07
Re: Succession planningStephen Grindrod14 Dec 07

Details of postings

Succession planning Claire Poole 3/10/2005 4:25 PM
I am trying to formulate and implement a succession planning framework for a medium size manufacturing company that has only been around for about 10 years. Anyone know or work for a business that does succession really well?
 
+ Re: Succession planning Karen Smith 4/8/2005 8:08 PM
Hi Claire

Our Company are very new to this and I don't know that much about it but I know someone we does. Should you like me to pass on your request to them please drop me an e-mail to mkrjk@btinternet.com
++ Re: Succession planning Tony Granger 7/16/2005 2:48 PM
Try Tony Granger at Mentor Financial Services- he is the author of Wealth Strategies for your Business and deals with succession planning issues. tonygranger@mentorfinacialservices.co.uk
+++ Re: Succession planning geoffrey pilgrim 10/28/2005 2:33 PM
HI this request may not get through but if it does I would be grateful if you could email me at gpilgrim@farrel.com. I too have some issues wiyh the lack of succession planning in my company and would welcome some help.Thank you.
++++ Re: Succession planning Clare Young 11/1/2005 1:54 PM
Hi Claire, Just wondering how you got on with this ?
Did you manage to implement a working succession management plan? If so, how did you go about it ?

Your response would be appreciated as I am currently working on a similar project myself and could do with a headstart !
+++++ Re: Succession planning John Shenton 11/8/2005 4:36 PM
I don't know if this would work in your type of business but there is a model that allows owner managers to create a plan for existing staff to take over the business based on their ability over a fixed time frame, to take on the tasks of the senior executives ,say two or three years ahead of the succession date, and as part of the plan to prove during this period that they are able to increase the value of the business, Having valued the business at the start of the excercise and at annual intervals, the new management team are able to increase their share holding in the business and eventually take the business over leaving the outgoing management to retain a small percentage in the business until such time as they want out altogether. The model is then repeatable as long as the business continues to grow. This model offers great incentive for the existing or any incoming staff to perform to the highest level as they know they will reap what they sow.
++++++ Re: Succession planning JOG 8/8/2007 1:57 PM
One of the best offerings comes from SumTotal Systems a fully automated on-line system to fully manage the process.
+++++++ Re: Succession planning Keith McDougall 8/16/2007 1:15 PM keithmc@ develop3 co uk

Hi Claire


I have been involved in several succession planning systems and processes in some small and also world leading organisations and there is one consistent error that is made regardless of the organisation - make sure those individuals named in the succession plan know they are part of a succession plan.


I have been involved in various forms of succession planning systems, each with their own pros and cons.  The single most effective element of any programme is actually telling someone that they are part of a succession plan.  This creates motivation and focus.  Then a programme to development and support those identified can be implemented.


As for the actual tool, one of the most effective implementations I have worked with was a simple spreadsheet - it's not the tools more the development plan that differentiates between a business process and an effective and robust succession plan.
++++++++ Re: Succession planning Cathy McCabe 8/16/2007 4:41 PM

Hi Claire, I have just been given a similar project to you and have no idea where to start. Could you pass on some advice or information? Thanks


 
+++++++++ Re: Succession planning carole Harden 9/15/2007 8:35 PM

I have put succession plans together for more years than I care to state, but they have worked, particularly when there have been catastrophies.  They have to be living documents no point putting them in the drawer. Think of them in three timelines 1. Emergency cover - who can do the job immediately to stop everything from falling over 2. Who can do the in the next 1 - 2 years and who is showing potential to grow into a job 3-5 years down the line.  Consider what are the competencies and experiences needed for the job and consider how the individuals will gain them. May be formal training, secondments or just time served in another role.  Big question here is - Do you let someone know they are on a succession plan - you have to watch data protection because people can ask to see what data is held on them.  This is not something you can do alone and I used to take the Board away for a day to discuss the top teams and they in turn would work with their teams to cascade the plan through the management chain Good luck


 
++++++++++ Re: Succession planning Stephen Grindrod 12/14/2007 1:47 PM

Hi, If you are looking for professional help, Insala can help. They can provide the full solution from Succession Planning consulting, to provide Succession Planning Tools They are based in Central London, in Covent Garden.


 
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