PURPLE YOUR PEOPLE: 18. Managing aspirations and succession

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

-          Recruitment                                     -           Disruption to the business           

-          Management time                        -           Reduced productivity

-          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.

POTENTIAL	3.  need intervention	6.  need challenge	9.  future leaders
	2.  need help	5.  core	8.  high impact
	1.  need attention	4.  effective	7.  specialist
	PERFORMANCE

 

Box	Definition	Action
1.  Need attention	-          showing low potential -          low performance -          under perform -          aren’t showing any improvement -          likely to be disengaged -          at best they are adding little ·         at worst they could be sabotaging -          causing others to feel  demotivated	-          management has to make a tough decision -          challenge them to improve their performance -          -  take action
2.  Need help	-          have average potential but show low performance -          disengagement -          moving too soon -          inadequate induction or development -          not coping with manager -          colleagues, change or Culture	-          have potential to perform better if given opportunity, motivation, support and development
3.  Need intervention	-          have a lot of potential but simply aren’t performing -          wasted resource -          wrong role -          wrong organization/ culture -          Not their current team/manager -          Have other issues	-          ‘heart-to-heart’ between the employee and a third party is required
4.  Effective	-          with specific talents -          show high performance -          need recognition for contribution -          keep them engaged, focused and motivated	-          required personal development/progression
5.  Core	-          -  perform just up to the potential of the role	-          explore why the ‘costing’ -          continued to engage and celebrate their loyalty
6.  Need challenge	-          consultancy show high potential -          performance is not up to that standard -          -not sufficient motivation/inspiration	-          need to be kept challenged and receive recognition -          ensure they have the confidence, tools and freedom
7.  Specialists	-          trusted professionals -          perform much higher levels -          have special talents -          very engaged and prepared to trade off challenge	-          be valued and efforts made  to retain them -          reward and recognize them -          allow them to be a mentor
8.  High impact	-          can become future leaders -          might have lost motivation, direction or pace with the changes in the organization	-          keep them engaged, motivated and challenged -          recognize for contribution
9.  Future leaders	-          demonstrate leadership qualities -          produce results -          have influence -          people look up to them and seek their advice -          get the job done -          have broad experience and knowledge	-          need to be nurtured -          make effort to challenge and engage them need to be rewarded appropriately -          ensure there are opportunities to grow through  promotion or other high profile challenges

 

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