SAP SuccessFactors Succession Planning

Summary

The webinar transcript discusses the importance of succession planning in organizations, especially during uncertain times like the COVID-19 pandemic. It emphasizes the need for companies to be prepared for unexpected situations and outlines a five-step process for effective succession planning. The session also includes a demo of the SuccessFactors system, showcasing how it can aid in identifying critical roles, potential successors, and developing plans to ensure business continuity.

Takeaways

• 📅 The webinar series has reached its 14th session focusing on succession planning, which is crucial in the current unpredictable times due to COVID-19.
• 🤝 The main goal of the sessions is to support participants with success factors, best practices, and leveraging technology for effective remote work.
• 🚀 Succession planning is essential to ensure operational sustainability and continuity, especially during crises.
• 🤔 Organizations are encouraged to rethink fundamentals and analyze the impact at different levels within the company.
• 📈 Identifying critical positions and having a short-term succession plan for them is vital to mitigate risks associated with sudden leadership changes.
• 🌐 A governance framework should be in place to empower employees to take up new roles within the organization.
• 🛠️ SuccessFactors can be a helpful tool in delivering different aspects of succession planning, including identifying and developing successors.
• 🔍 Organizations should have tools to monitor, control, and report on the talent pipeline and contingent workforce status during a crisis.
• 📝 A five-step process for succession planning includes defining people's scope, risk assessment, identifying gaps, defining a leadership and succession plan, and rolling it out.
• 🔄 Cross-functional role development is encouraged as it provides flexibility in placing employees in multiple roles when needed.
• 📢 Communication and awareness of succession planning strategies are key to employee engagement and retention.

Q & A

What is the main aim of the 14 weeks 14 virtual roundtable webinar series?

The main aim of the webinar series is to support participants around success factors, best practices, and to help them get the most significant benefit from technology during the strange times of working from home.

How has the COVID-19 pandemic impacted the way organizations work?

The COVID-19 pandemic has led to a shift in the way organizations work, with a greater emphasis on remote work and the need for organizations to be prepared for unexpected situations.

Why is succession planning important for organizations?

Succession planning is important to ensure operational sustainability and continuity, especially during times of crisis. It helps organizations be ready for unexpected situations and manage potential risks associated with the sudden loss of leaders or key personnel.

What are some key considerations for organizations when looking at succession planning?

Key considerations include rethinking fundamentals, analyzing existing talents, converting them into operational continuity opportunities, and having a framework that encourages employees to take up new roles within the organization.

How can organizations identify critical positions within their structure?

Organizations can identify critical positions by defining criteria to recognize roles that are essential to the operation and impact of the company, such as CEO, CFO, VPs, and heads of departments.

What is the role of technology in succession planning?

Technology, such as SuccessFactors, plays a crucial role in facilitating succession planning by providing tools for risk assessment, identifying successors, developing individual development plans, and monitoring the progress of potential successors.

How does the SuccessFactors system help in managing succession planning?

SuccessFactors allows organizations to maintain a succession chart, identify critical positions, compare potential successors based on various attributes, and create development plans to close operational gaps between the incumbent and the successor.

What is the significance of cross-functional roles in succession planning?

Cross-functional roles are significant in succession planning because they allow for more flexibility and adaptability within the organization. Employees with multiple skill sets can be placed in various roles as needed, making the organization more resilient to changes and crises.

How often should organizations review their succession plans?

Organizations should review their succession plans at least quarterly to ensure they are up-to-date and aligned with the current state of the business and any changes in the organizational structure or strategy.

What is the recommended approach for identifying successors for critical roles?

The recommended approach involves conducting a risk assessment, identifying potential successors, defining a development plan to address any gaps, and ensuring there is a backup plan for each level of succession, ideally planning up to three levels deep.

How can organizations ensure their employees are aware of and prepared for succession planning?

Organizations can incorporate succession planning awareness into their onboarding programs, provide training, and maintain open communication about the strategy and processes. This ensures employees understand their potential roles and the opportunities for growth within the company.