96608-152062 - Kantha Rao Chinthada- Apr 17, 2021 750 PM - Succession management asgnmt2

docx

School

Seneca College *

*We aren’t endorsed by this school

Course

MISC

Subject

Management

Date

Nov 24, 2024

Type

docx

Pages

Uploaded by Aegean123

Group-5 CANADORE COLLEGE Human Resource Management SUCCESSION MANAGEMENT

1 Summery This year, Jim Pender, the President, and CEO of Stonewall Industries, is set to retire after 40 years of service with the company. The executives from the new parent company, US Corp, have absolutely no idea who should replace Pender as President. All of the current VPs have various strengths and weaknesses and no one on the team seems to be viewed as the heir apparent. The internal candidates for the position would be VP Manufacturing, McBain; VP Mining, Khan; VP HR, Byer; VP Finance, Ho; and VP Marketing, Krajevski. Jones, VP of the Plastics Division is not viewed as a candidate because he doesn’t have gypsum wallboard experience. All of the candidates are viewed as ‘competent’ in their current roles. Byer and Ho are viewed as ‘exceptional’. Neither executive, however, has direct line management experience in the manufacture of gypsum wallboard. One of the key problems that the organization faces is that there is no formal performance management system in place, let alone a succession management process.

2 1. Outline the major benefits of implementing a succession management process. One of the benefits of buying an existing company is that you get its interest. Appreciation is an intangible asset that contains the established brand of Stonewall Industries, a customer base, and mental funds. Unfortunately, US Corporate management is also an unofficial management system that has been developed in Skywall [1]. Stonewall industries are not alone 44.8 percent of companies with current leadership positions close. In the light Side-by-side management is not too slow to use and has the following benefits: Let’s start by answering the question: what is sequence management? It is a process of ensuring that staff pools of skilled workers are available and available to meet the strategic objectives of the organization [2 ]. The next question you can ask is: do we have a staff supply available internally to meet the job requirement to fill Jim Pender’s' position at Skywall Industries? The company has a talent pipeline:  Chief Executive Officer: Jim Pender (retired)  Senior Management Team: VP Production: McBain, VP Mining: Khan, VP HR: Byer, VP Finance: Ho, VP Marketing: Krajewski.  Critical roles based on the long-term value in the organization: All employees listed below a group of senior executives are considered within this position. Jones, VP of  The Plastics Division is not considered a candidate because he does not have gypsum wallboard experience. The main benefits of sequence management are as follows: 1. Improves student indoor pools: For example, having all the staff present has been considered internally for the CEO to replace the CEO while on vacation [3].

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

3 2. Ensures business continuity: If Stonewall does not fill a position while additional employees they tend to work in the same way with children when the delivery teacher is present. The strategic objectives are many which may not be achieved if the position of CEO is not filled promptly. 3. Minimize skills gaps: If Swallwall had a succession management plan for them you would have seen what training they would undergo in the internal elections that would require better preparation for their position [4]. 4. Retain staff: If there was a succession management system, candidates would be in-house known if they continue and this will be great in the end. More staff often set performance-based goals to achieve the desired result. 5. It helps individuals to see their career strategies in the organization: as a result of fighting or flying it also happens that employees looking for a position will work harder. It will suspend employees from cross shipping and sharing competitive strategies, as this can be detrimental to this type of sector! [5] 6. It develops leaders very quickly: if people know the position of CEO will be posted at 6 p.m. months will get a lot of professional development and work hard to become you are considered a candidate for the top internal election. 7. Encourages the development of multi-employer groups: For example, if there are a few visible ones promotions will make recruiting easier to motivate employees that the company informs its employees instead of looking out [6]. 8. Improving staff's ability to respond to changing environmental needs: e.g., the success of a company depends on the interest rates and new housing so if the company has it to fill in the "x" number of positions that candidates will have. Stonewall Industries, therefore,

4 needs to ensure that succession management complies with organizational direction (long-term goals) as opposed to transformation planning where the beginning is a function (temporary objectives). Another benefit of the company is that they have a lot of fans that can be found inside [7]. Now that I have touched on the benefits of succession management, I would like to say benefits of strict consideration of internal candidates as opposed to outward appearances: 9. Stonewall has more and better information about candidates for internal elections. If Stonewall provides job development skills and opportunities for local candidates have more commitment and retention among their employees and lower training costs. Selected recruits may preserve corporate culture. The cost of hiring and re-election will be lower. “Another reason for hiring internally is that top managers who hire outside bring the annual return is 3.7 percent lower than inland. 2. Explain the limitations inherent in a succession management process. There are several limitations associated with a sequential control process. The first is that although the process may be easy to understand, it is difficult and time-consuming to use apply as a result of the necessary steps involved in the process One limitation is the exploration of indoor talent pools. If employees do not know themselves, they are tested when there is a high risk of an increase in employees leaving the organization a better chance at a competing organization and they are also at risk of having to train that person he may not want a job [8]. Although identifying candidates for the position confirms that the best candidate is the one chosen in some cases candidates can be harmed by hiding important information or by attacking the key employees to improve their tracking records. The strategy does not promote team play,

5 important in organizational culture. The few limitations associated with the sequence management process are as follows: Preferential selection of candidates for internal elections limits the company's ability to present new products ways of thinking and acting may not be in harmony with organizational direction. When identifying the skills and competencies required (step 2 in sequence management process) using a work-based approach can be considered error-free due to the rapid speed of what jobs are changing in today’s world. The succession of potential employees can lead to a less productive work pool, as the existing staff sometimes lacked the wisdom and ingenuity. Annual reviews to identify potential employees may also be common which is done instead of a way to identify top talent Management and management discussions may be affected by biased opinions, doubts of attendance criticize employees, conflicting opinions, false compliments to remove people from their department or negligence to name the best employees to keep them Where it provides development opportunities and experiences (job exchanges) as a means identifying senior leaders, can be very expensive [9]. There is a learning curve for each job, there needs to be time to learn a new role, mistakes will be made, and finally, accuracy and efficiency will decrease over time. Also, a type is included additional staff during this reduced production period. Special Distribution and Practical Learning can have a detrimental effect on the highest potential staff, as they explore new skills in new areas and mistakes inevitable. This can lead to anxiety and prevent these senior staff from taking risks, establish or take necessary measures. 3. From what you have learned about succession management and performance management processes, how would your group decide if an internal candidate was appropriate?

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

6 Organizations use most of their hiring resources to locate and evaluate outsider’s elections. But when you need to fill a position, something less expensive and more practical for you that you can do to hire someone from the inside [10]. Most hiring from companies is done internally. However, you need to make sure that the candidate in the by-elections is the best to fill the new position; certainly, not all entrants do well. If the baptism candidate already has a conversation but has a good reputation, Our HR team will select a candidate internally based on the following criteria: Negotiation: Whether you have worked with someone who will be a candidate nearby or simply "know" about them, do not slip into the internal interview process. “Knowing someone well does not mean that you will know if they will be able to do well in a new job. If you think you know everything that is preferred skills, abilities, and potentially dangerous skills, many hiring managers get extra details of the candidate during the interview, another important internal issue In the interview you should ask the appropriate questions, ask about the plans of the candidate for the role, use ethical or skill questions to better understand the candidate's questions motives mimic work experience by imitating or through a work assignment (Harvard Business Reviews). Performance: Any organization needs a lot of skills and should develop more employees with it flexible skills and work conditions, as an HR manager I would like to first see the top potential employees, HR managers often say it is an excellent predictor of future performance previous performance especially for internal election candidates because as an HR department you have a lot the amount of information about the employee's KSAOs is stored in the data bank and used identify staff with the skills they need, staff files can record their experiences, skills, skills, and performance appraisal, the purpose is to identify the performance of the employee strengths and weaknesses, and if the candidate is the one to do the job [11].

7 4. Describe an effective succession management process that could be implemented in Stonewall. Given that the situation in Stonewall has identified candidates for the by-elections but said no one they are seen as a visible heir, I recommend that they do a performance test to identify potential candidates. I think this is an effective method for measurements they come from different parts of the company and include managers, peers, subordinates as well customers. Each person is assessed according to the advanced standards that make up the process suitable for each individual. I also think that testing centers are another effective tool for assessing what a view is Candidates respond and face real-life situations that they will face in a new environment [12]. See they will participate in a variety of role-plays that will be trained and experienced ethics and provide a test of their ability and strength. While it works appraisals depend on how the subscriber has done his or her current job, I think it's important in this regard the company uses test centers because it allows managers to determine who will be registered response and behaves in the real sense of the position they are looking to fill. References 1. Allison, M (2002) Into the fire boards and executive transitions. Nonprofit Management & Leadership 12(4): 341–351. 2. Anyaso, HH (2017) Interim expertise. Diverse: Issues in Higher Education 26(20):14–15. 3. Bower, J (2007) Solve the succession crisis by growing inside-outside leaders. Harvard Business Review 85(11): 90–96, 153. 4. Calareso, JP (2013) Succession planning: the key to ensuring leadership. Planning for Higher Education 41(3):27–33.

8 5. Cullen, C (2016) Proactive succession planning the University of Virginia’s success story. Available at: https://vimeo.com/162378975 (accessed 6 October 2019). 6. Drucker, P (1946) Concept of the corporation. New York: The John Day Company. 7. Fink, D (2010) The Succession Challenge: Building and Sustaining Leadership Capacity Through Succession Management. Thousand Oaks: SAGE. 8. Fink, D, Brayman, C (2006) School leadership succession and the challenges of change. Educational Administration Quarterly 42(1):62–89. 9. Fretwell, EK (2004) When presidents leave suddenly: from crisis to continuity. In: Martin, J, Samels, JE (eds) Presidential Transition in Higher Education: Managing Leadership Change. Baltimore: Johns Hopkins University Press, pp. 97–110. 10. Gilmore, TN, Ronchi, D (1995) Managing predecessors’ shadows in executive transitions. Human Resource Management 34(1):11–26. 11. Hinden, DR, Tebbe, D (2003) Managing executive leadership transitions in nonprofits. The Public Manager 32(2):16–18. 12. Kane, PR, Barbaro, J (2016) Managing headship transitions in U.S. independent schools. Peabody Journal of Education 91(5):616–627.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

96608-152062 - Kantha Rao Chinthada- Apr 17, 2021 750 PM - Succession management asgnmt2

Related Documents