Advanced Succession Planning: Defining Developmental Paths.Business Editors CHAPEL HILL, N.C.--(BUSINESS WIRE)--Jan. 22, 2004 To reach maximum potential in organizational success and future productivity, top companies improve succession planning Management Succession Planning In organizational development, succession planning is the process of identifying and preparing suitable employees through mentoring, training and job rotation, to replace key players — such as the chief executive officer (CEO) — by defining developmental paths of high-potential contenders for corporate leadership. Winning strategies for creating these developmental paths, identified by the research and consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a Best Practices, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , are highlighted in a free white paper available at: http://www3.best-in-class.com/cr81.htm Benchmarking research, based on interviews with human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. executives, shows many large companies have established formal developmental structures based on criteria known to both the employee and the manager. This serves to standardize stan·dard·ize v. 1. To cause to conform to a standard. 2. To evaluate by comparing with a standard. managerial influence, minimize subjectivity and inform and inspire the employee. Examples of tactics used to establish these structures include: -- Rating each employee based on a set of skill areas and designing a developmental path to reflect those ratings -- Holding a specific discussion between employee and manager about the employee's main career path objectives -- Implementing a mini-corporate university to target newer employees, addressing various organizational information and skill areas Best Practices, LLC has extensive experience in conducting quantitative benchmarking research and works to gather the qualitative best tactics that set human resources organizations apart. Other human resources research topics include: -- Employee performance management and development -- Staffing, roles and budget management -- Recruiting top employees -- Executive communication practices -- Human resources incentive systems "Over my many years in business, I have had the opportunity to work with more than a few consultants. The Best Practices team has been fantastic! We have been impressed im·press 1 tr.v. im·pressed, im·press·ing, im·press·es 1. To affect strongly, often favorably: with their professionalism, responsiveness and willingness to help us succeed," said Jeanne Lyon, former vice president of human resources at Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. . To download a free succession planning white paper and learn more about our research, visit our website at: http://www3.best-in-class.com/cr81.htm For more information, contact Chris James
ABOUT BEST PRACTICES, LLC Best Practices, LLC is a research and consulting firm that works on the principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class organizations. Visit our corporate web site at http://www.best-in-class.com |
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