SHARED FROM THE BOOK:
Purple Your People
Jane Sunley
18. Managing aspirations and succession
Few organization measure the cost of
attrition (how much is swiped off the bottom line every time a person
leaves). The costs involve are:
Direct Cost Indirect Costs
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Recruitment - Disruption to the business
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Management
time - Reduced productivity
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Interim/tem.
Cover - Lost opportunities/revenue
-
Development - Knowledge loss
- Reputation
- Motivation and morale
- Quality
- Continuity
Most people
or organization ignores the indirect costs.
Regularly
review employee’s progress and find out their inspiration in order to retain
talents. Be aware that not all talented
people want promotion. Setting up an
effective two-way communications system will enable people to share their
aspiration. It also important to
remember that employees are individuals with their own wants and needs.
Many
organizations find succession planning too details and difficult to do. Utilizing the 9-box grid makes it simple and
consistent. The 9-box grid will help map
people according to their performance scores and potential ratings.
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POTENTIAL
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3. need intervention
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6. need challenge
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9.
future leaders
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2. need help
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5. core
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8.
high impact
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1. need attention
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4. effective
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7.
specialist
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PERFORMANCE
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Box
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Definition
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Action
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1. Need attention
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showing low potential
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low performance
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under perform
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aren’t showing any improvement
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likely to be disengaged
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at best they are adding little
·
at worst they could be sabotaging
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causing others to feel demotivated
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management has to make a tough decision
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challenge them to improve their performance
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- take
action
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2. Need help
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have average potential but show low
performance
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disengagement
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moving too soon
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inadequate induction or development
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not coping with manager
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colleagues, change or Culture
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have potential to perform better if given opportunity,
motivation, support and development
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3. Need intervention
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have a lot of potential but simply aren’t performing
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wasted resource
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wrong role
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wrong organization/ culture
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Not their current team/manager
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Have other issues
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‘heart-to-heart’ between the employee and a
third party is required
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4. Effective
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with specific talents
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show high performance
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need recognition for contribution
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keep them engaged, focused and motivated
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required personal development/progression
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5. Core
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-
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perform just up to the potential of the role
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explore why the ‘costing’
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continued to engage and celebrate their
loyalty
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6. Need challenge
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consultancy show high potential
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performance is not up to that standard
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-not sufficient motivation/inspiration
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need to be kept challenged and receive
recognition
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ensure they have the confidence, tools and
freedom
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7. Specialists
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trusted professionals
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perform much higher levels
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have special talents
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very engaged and prepared to trade off
challenge
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be valued and efforts made to retain them
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reward and recognize them
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allow them to be a mentor
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8. High impact
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can become future leaders
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might have lost motivation, direction or pace
with the changes in the organization
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keep them engaged, motivated and challenged
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recognize for contribution
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9. Future leaders
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demonstrate leadership qualities
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produce results
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have influence
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people look up to them and seek their advice
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get the job done
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have broad experience and knowledge
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need to be nurtured
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make effort to challenge and engage them need
to be rewarded appropriately
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ensure there are opportunities to grow through promotion or other high profile challenges
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The
three (3) things:
1. Focus the mind by working out how much
people leaving actually cost your organization every year
2. Regularly review employee progress and
aspirations
3. Find a way to make succession planning
work for you
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