Performance Management

Research by McKinsey & Company and IBM Global Business Services says that 50% to 60% of companies fail to achieve some to all of their goals and objectives, with as many as 20% failing completely.

Why is this and what can human resources do to improve the situation?

There are a number of factors contributing to failure but none more than these two:

Employees who are expected to contribute to the achievement of the company goals and objectives:

1) Don’t understand how to do that and/or

2) Are unable to focus on company objectives because they are focused on their own self-interests.

If either or both are true, which they are to varying degrees in every company, failure is highly probable.

While the ultimate responsibility for goal/objective achievement rests with the CEO, that individual must rely on the efforts of multiple layers of staff to insure the company’s employees can do what is expected of them.

This, in turn, requires a coordinated company-wide effort overseen by one entity to the benefit of all. Who better to do that than Human Resources? Unfortunately, deservedly or not, when it comes to discussion regarding goal/objective achievement, HR is often excluded from the most senior levels of decision-making.

This presentation discusses the problem as well as what HR professionals can do to gain the trust of senior management regarding the value of their contribution helping to achieve the company’s goals and objectives.

While the specific course of action will vary company-to-company, circumstance-to-circumstance, the outline presented will serve as a framework for increasing the visibility and trust in Human Resources for this critical role.

According to Cutting Edge Information (Web site: http://www.cuttingedgeinfo.com/) 67% of the organizations today do not have a succession plan in place. HSC – Human Capital News Update (http://dreamlearndobecome.blogspot.ca/2010/12/most-companies-have-no-ceo-succession.html) reports that 49% have not put a plan in place in the last three years. We see that some organizations may have a plan written but have not executed on it and likely have not done any development work on the successors that are identified in the succession plan. On an annual basis they blow the dust off the plan, make sure the names have not changed and then put the plan back on the shelf.
Organizations today are facing a number of people challenges. We have an aging workforce, a talent shortage, a leadership talent shortage, lack of succession planning – succession development, a mobile work force, and a work force that has a high level of disengagement.
This webinar will look at the definition of succession planning and its history. We will look at the business challenges that are facing most organizations today and how the lack of succession planning will have a huge impact on their success moving into the future. We will break down each business challenge or opportunity as we like to call them and see how succession planning can address the challenge. The webinar will provide a snapshot of some of the steps that are required in the development of a succession plan and the development strategy that is part of an effective implementation strategy.
We will examine the impact of not developing the successor. We will outline through the webinar the value add that mentoring can play in the succession planning and more importantly the succession development process. We will look at the knowledge transfer that must take place and the ongoing soft skills development all of which can be facilitated through a mentoring process.
This webinar will outline the Business value of developing a succession plan and a development strategy for the successors. We will speak to the success factors that will provide participants with a means to measure the success of their planning process.
Organizations must begin the succession planning process and must ensure that they have a succession development strategy as well. Don’t end your legacy on a bad note. Take the time to plan and implement properly. “Can you afford not to?”