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Succession Planning: Don’t Leave it to Chance

July 2024

I have developed a Strategic Succession Planning Framework which I have been using effectively with various clients.

Robust succession planning is crucial for each organization’s long-term stability and helps ensure leadership continuity in the event of a key change in employees.

By making leadership decisions early, investing in individual development, and developing transition timelines, organizations can build a sustainable team with the support and buy-in that leaders and their successors require. And, retain their top talent.

Without developing and regularly updating a detailed succession plan, organizations open themselves up to serious performance risk.

If unable to effectively bridge the knowledge gap after a key member departs, there is a risk of losing the support of key stakeholders, including the Board.

The objective is not only about finding a capable replacement for an eventually departing leader. It should also be an opportunity to evolve and enhance the role with foresight and alignment to the future needs of the business. Even if the current occupant of the position is successful by all metrics, that does not mean that the role itself is fully equipped to meet the future needs of a growing organization.

If succession planning is done poorly or neglected, the organization’s prospects and the futures of those who depend upon it are left to chance. Most boards and senior leadership teams won’t take that chance.

Please reach out to me to discuss the creation or review of your organization’s succession plan. Don’t leave it to chance.

Talent Acquisition in a Competitive Market

June 2024

Most employers face challenges in attracting top talent. Here are some best practices for approaching talent acquisition.

Understand and clearly define the true business need for each open role, the unique circumstances, and the ideal candidate profile. Take the time to assess the skills and experience within the current team and know which capabilities will enhance the team now and into the future.

Be creative and relentless in your search. Approach talent acquisition as a team-based priority. Don’t accept “good enough”—keep going until you truly recognize top talent—the individual who aligns with the necessary skills, qualities, and experience as well as the core values of the organization.

Stay aligned with your organization’s mission and vision throughout the process. Create the right infrastructure for new hires from the inception of the talent acquisition project throughout onboarding and beyond. You only have once chance to make a great first impression.

Proper structure and process around talent and performance management, combined with a people-first workplace culture and leadership commitment to engagement and career development, make for a powerful formula that pays big dividends over time.

The journey to an incredible organization really is only possible when talent acquisition, engagement and retention become a deep focus for all leaders and team members.

Compensation and Pay Transparency: Are You Ready?

April 2024

In the world of work these days, there is heightened awareness of compensation programs. We have seen legislators in various jurisdictions across Canada highlight the need for a greater level of transparency related to pay. Pay transparency requirements now exist in several Canadian provinces, multiple US states and in Europe.

Pay transparency brings about additional challenges for managers and HR departments. The vast majority of workplaces make efforts to communicate authentically and openly to employees about their various HR programs, including compensation. However, there is still a lot of work to be done. Transparency requires strength in program development and communication. There is a need for very careful change management when initiating greater pay transparency.

Managers need to be equipped with the knowledge of how compensation actually works within the organization. Often, this knowledge is primarily housed within the HR department. The initial source of information for employees should be their manager. As experts in compensation, HR professionals are equipped to educate managers and employees alike concerning pay.

Creating market-based pay structures, including job evaluation programs, is foundational to pay transparency and pay equity–and key to employee acquisition, retention, and motivation. Compensation programs must align with the organization’s compensation philosophy and core values.

OutPerform Human Resource Consulting is here to help with all aspects of compensation and pay transparency. Contact me regarding your business needs at wendy.alderdice@outlook.com and visit www.outperformconsulting.com for an overview of our services.