Case
Studies
In
the corporate sector where human resource is becoming like oxygen
to companies it is important to take care of them in every way
you can. This section will treat you with articles about time
tested companies and what they do to keep their employees happy.
May be you can benchmark with them...?
Planning
success!!
The
giant Dow Chemical Company recently went through a successful
exercise in succession planning. Get to know how it happens from
Frank Popoff, chairman of the board himself.
Succession
strategy in most companies must make six transitions:
It’s
a continuous process
Succession
planning is not an annual event, rather the company needs to create
an environment to facilitate continuous succession "thinking”.
Ideally, you must organize senior management meets followed by
regular staff meetings. Managers must develop at least one candidate
as a potential replacement.
See
Long-term
There
is a thin balance between the need for immediate replacement and
a ready pool of talent. Its a good idea to pay attention to overall
development of employees so that when the time comes, you are
ready to change.
What
a firm needs
Even
though you are actively training your own people, create an atmosphere
in which external talent can be hired to fill critical skill gaps,
independent of job openings.
Appropriate
turnover in key positions
You
must encourage your potential workers. Moreover you must also
stop emphasizing technical over managerial skills. Develop appropriate
action plans, avoid positions becoming blocked and generate appropriate
turnover.
Pool
of ready talent
Dow
has created a Genesis award to recognize people development. Winners
of the award are introduced at the annual shareholders' meeting.
Emphasis
on results
“Dow
has established measurements to evaluate succession results. The
measurements include: the percentage of key jobs which have at
least two ready successors; the percentage of key posts filled
externally; the percentage of developmental action plans implemented;
and the extent to which the process contributes positively to
business results”.
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