Diverse Succession Planning

1683 WordsMar 31, 20137 Pages
DIVERSE SUCCESSION PLANNING (DSP) INTRODUCTION “The future of many organizations is likely to depend on their mastery of diverse succession planning given that building bench strength among women and minorities will be critical in the competitive war for talent”. (Charles R. Greer and Meghna Virick, 2008.) They stressed further: “Aside from the leadership provided by CEOs and diversity officers, management of diversity should be embraced by the entire leadership team and not perceived as the exclusive domain of the HR function.” Cisco System becomes a $12 billion high-technology company with over 47,000 employees in not less than 54 countries of the world due to its strategic management policies and practices among which is diverse…show more content…
* Identifying “emergency” positions without successors. * Planning for positions that cannot be filled internally. Going by the recommendations of Greer and Virick (2008) Companies should formalize a commitment to diverse succession planning throughout the organization and viewing it as a broad-based strategic imperative instead of solely a human-resources function. The company must clearly envision diversity as essential to business strategy because of the competitive advantages that follow. Companies should also identify early on the talented individuals who can be developed for advancement. They should design objective standards for performance evaluations. They should also identify and cultivate outstanding mentors They should also allow the chief diversity officer to have direct access to the CEO. They should also Base executive bonuses partly on achieving diversity goals. “Companies need to reach deep, almost down to entry level, for talented women and minorities who can rise to leadership positions. Early identification and development of talent is crucial,” says Dr. Greer. “Also, identifying skilled mentors and fully utilizing their talents should be a priority. Mentoring has great importance in terms of succession.” Patience and persistence are required, he says. Results can take four or five years, or more. So companies should be ready for a long-term commitment and be willing to work through the risks and challenges. Diversity

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