Succession Planning

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Succession Planning
© 2015 Angott Search Group
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Define succession planning
Market trends
Outline the key steps
How to implement a plan
The impact on your business
Q&A
© 2015 Angott Search Group
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Taken narrowly, “recruitment planning”
for key roles is the heart of succession
planning
© 2015 Angott Search Group
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Many institutions using M&A as a succession
planning tool
Donnelly Penman & Partners statistic
• ↑ Deals
• ↓ Size
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Deloitte’s recent Business Confidence
Report 2014
52% lack confidence
Focus on retention & engagement
Baby Boomer population
Workforce retiring
© 2015 Angott Search Group
1.
Set your strategic direction
2.
Recognize your key leadership positions
3.
Analyze your current organizational chart & talent
4.
Identify your available talent
5.
Develop those employees to be ready for
advancement
© 2015 Angott Search Group
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Start with your current mission / strategic
plan
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Is your bank able to achieve your stated
goals & objectives w/ current team?
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Review current hiring practices, processes
& procedures
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Assess the “Position Impact” of each of your key roles
Position
Impact / Risk Assessment
Position Title: COO
Classification & Level:
Incumbent:
Department:
Location:
Position Impact:
High
Med
Position Title: CFO
Classification & Level:
Incumbent:
Department:
Location:
Position Impact:
High
Med
Low
Vacancy Risk: Make a judgment
High
Med Low
Vacancy Risk:
High Med
Low
Low
© 2015 Angott Search Group
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Education
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Licenses
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Experience
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Competencies
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Study current internal talent & make
assessment
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Put formal evaluation process in place
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Bench strength
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Position Bench Strength Assessment Form
Targeted Positions
Leadership
Level /
Department
Chief Lending Officer
Senior /
Lending
Chief Financial Officer
Senior /
Finance
Chief HR Officer
Senior / HR
Chief Operations Officer
Senior /
Operations
# People
Ready Now
# of People
Ready in
2-3 Years
Action Plan
Internal Candidate
Names
Total
© 2015 Angott Search Group
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Indentify external talent
Prepare an external recruiting plan
• Fundamental issue in succession
planning deals with talent
management
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Pros & Cons:
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Internal staff development
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Hiring from outside
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Design & implement career development
strategies
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Retention strategies
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Put together a recruiting and hiring plan
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Guidelines for career development
discussion
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HR function
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Manager responsibilities vs. employee
responsibilities
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At a minimum annually assess each person’s
successes & failures
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Evaluate & make changes in the organizational
structure
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Succession planning has the overall goal of
providing the right leadership at the right place at
the right time with the right skills
© 2015 Angott Search Group
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Reduces crisis
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Promotes a “continuity
of the culture”
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Forces accountability &
talent assessment
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Adheres to regulatory requirements
© 2015 Angott Search Group
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Understand where you are vulnerable
Important for every size organization
Identify your A, B & C players
Mentoring or cross training program
Develop your infrastructure with strong
professional leadership & development programs
• Talent evaluation program
• Retention strategy for key employees
© 2015 Angott Search Group
© 2015 Angott Search Group

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