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Optimising Your Talent and Engagement Strategies through Effective Succession Management

Succession planning or management as it is more commonly known today, has become recognised by most successful, global businesses as the key element in their people resourcing strategies. This is because they know that they cannot afford to leave the recruitment of their future leadership to chance. This is usually the case when a business is largely dependent on external recruitment to satisfy most of its talent needs. The so-called global ‘war for talent’ means that there is now genuine competitive advantage for businesses that develop a successful succession management policy because: 1) Their preference is to identify and nurture high potential talent from within. and research suggests successors nurtured in this way are, on average, likely to be between 2 and 6 times more successful than external hires. 2) It also suggests that a successful policy will significantly boost engagement levels as well as making the business a more attractive proposition for potential new hires than businesses without an equivalent programme in place. Without addressing the issue in this way, growing businesses usually find that their growth will be eventually, seriously negatively affected.

Turning 'Theory' into 'Practice'?

The point of the course is that when delegates return to work they should be able to take the lead and strongly influence the design and implementation of their company’s succession management programme. There is little theory about the topic, so the content is based on real, ’best practice’ case studies and the deep experience and knowledge of the facilitator in helping a wide range of organisations design and implement their own schemes. The aim is for delegates to return with a practical action plan that can be quickly agreed and implemented.

Who should attend?

Managing Directors, Directors, Senior Managers, Managers and Heads of Learning and Development, Training, Talent Management, Engagement, Human Resources and General Managers

Key areas to be covered in the programme and documentation

What is planned succession management (PSM) and how does it impact positively on engagement levels and external recruitment?
• Understanding the strategic nature of PSM
• Succession as a part of the business plan
• How the emphasis has changed from a purely ‘planning’ activity to a development activity
• Example business plan to be used in a group exercise to identify their business’s succession management requirements
Exercise: Getting delegates to share what they think their company’s succession requirements and needs are

The key elements of planned succession management
• How to identify high potential people. What’s your current ‘bench strength’ look like?
• The need to form talent pools. How many candidates? Single functions or cross - functional? Particular demographics: age, experience, qualifications etc.?
• Your need to analyse all key current and future positions to be filled
• Choosing the most effective assessment techniques to select the right people 
• How should your succession programme influence your recruitment policies? What’s the connection?
• Why are coaching and mentoring amongst the most powerful tools to ‘fast track’ your high potentials? How do they work?
Exercise/discussion: Sharing which elements you have in place and which elements you still need to introduce

Why is PSM so critically Important to today’s successful businesses?
• Today’s a fierce ‘war for talent’ on a global scale means that acquiring and retaining top talent is increasingly competitive
• There’s no single formula for success but what’s your approach been to this situation? 
• What does research on succession tell us about the best ways to deal with it?
• Why have so many businesses not invested in it yet? Have you gained any competitive advantage as a result?
• What are the real benefits of implementing the PSM?
Group discussion: Why it is so challenging to recruit the right, top talent today

How to design and implement PSM
• Stage 1– Clarifying your business strategy and aligning your PSM to create the talent to achieve it
– Starting with the ‘big picture’ and gradually, throughout the rest of the course, ’drilling into the detail’
Case study: A real business strategy case study for delegates to analyse and suggest what its succession requirements are – creating an overall list of agreed requirements

• Stage 2 – Engaging with your senior leadership team (SLT)
– Clarity about the three objectives of doing this
– Understanding that without the SLT commitment the succession programme will fail
Exercise: Using the Nine Box Grid (NBG) to facilitate the SLT decision making process to make the initial selection of candidates for the new talent pool

• Stage 3 – Defining the critical competencies required to undertake the key roles successfully
– The need for robust, objective and consistent set of performance criteria or competencies
Case study: Understanding the basics of developing a leadership competency framework

• Stage 4 – Candidate assessment using competency based criteria
– After the NBG, there is a need to assess candidates objectively via the use of multiple assessment techniques
Case study example: A real, competency based, 360 degrees review process used to provide stand alone, individual feedback or feedback in a Development Centre

• Stage 5 – Building and developing the talent pool
– The shift from succession planning to succession management over the last 10 years
– Creating individual personal development plans (PDP’s) that act as a route map
– Guiding and providing clear objectives for each candidate’s learning process as members of the talent pool
– The use of secondments and temporary projects within the business providing candidates with new and powerful company learning experiences
– What’s the most important development activity of all?
Exercise: Identifying current, suitable, potential secondment and temporary project opportunities within your own business

Creating Your Own Succession Plan
• Action learning exercise to apply what’s been learnt - creating a ‘first draft’,  succession management action plan to present back to the business after the course
• How to put everything learnt into practice back at work to either create a new plan or improve an existing one
Case study exercise: Identifying the potential strengths and weaknesses of the project

Presentation of Succession Action Plans
• Individual presentations back to the group to validate and receive feedback on their plans
• Feedback should be considered by each delegate and if necessary used to change or modify their plan
Q&A session

Benefits to you

• Analysing why the ‘war for talent’ dictates that we increase our engagement levels and our perceived ‘attractiveness’ as an employer
• Providing the business with competitive advantage by positioning succession as a key element in your company’s business strategy and so increasing engagement both internally and for potential, new hires as well
• Exploring the essential stages of planned, succession management and the sequence in which they must be delivered within the organisation
• Acquiring effective succession tools and processes to optimise talent management
• Analysing your current situation with succession management and filling the gaps using the most up to date succession management techniques
• Learning from best practice about how to assess high potential and form talent pools
• Evaluating the value of the most commonly used learning strategies for developing high potential people: development centres, corporate projects, peer group assignments, secondments to other parts of the business, coaching and mentoring, ‘shadowing’ senior executive colleagues, leadership master classes and taking on specially designed, “acting up” roles
• Exploring the best methods for assessing the effectiveness of succession programmes
• Constructing your own ‘first draft’, action plans that will include an outline design of your business’s succession programme along with the key steps that will be involved in implementing it

Companies already benefiting include:

Duration of Course

2 Day Course

Course details

10th-11th June 2019, London, UK, PT4012

Other relevant courses include:
  Competency Assessment and Profiling
  Engage your People to Best Thrive in Business
 
 
 

 

Looking to train larger teams in this subject?

dzingim@marcusevansuk.comTailored in-house/in-company training courses and bespoke strategy workshops designed and delivered on-site throughout Europe according to your specific requirements.

All management, personal development and project management public courses featured in our Course Directory are also delivered on an In-Company basis.

Click Here for information on how this course can be delivered for you as an In-Company Training Solution

 


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Testimonials

"This course will allow my company to develop its existing strategies to a much greater and hopefully profitable level."

Managing Director, Tarmac