Exam Flashcards
(90 cards)
How is succession management different than succession planning?
-broader in focus: development plans for employees are based on strategic goals, not which position will need replaced, where succession planning just looks at the position that needs replaced and backups for it)
-time horizon: looks at longer time horizon than planning, planning more short term
-talent pools: management involves developing a larger group of employees who could advance in the organization at some point instead of just developing a couple star performers
- developing competences and skills
what is talent management?
Talent management consists of everything done to recruit, retain, develop, reward and make people perform as the organization needs.
Talent management must be linked to the business strategy.
What are 3 reasons to manage talent/succession from an employer’s perspective
- if you can identify the KSAs needed in the future for the organization, you’ll have time to develop them
-developing people inside the workforce creates candidate pools
- allows you to develop employees into key workforce categories
What is 1 reason to manage talent/succession from an employee’s perspective
Enhances employee commitment to organization
What are some reasons a firm would not manage talent and succession
- don’t have the budget for it
- don’t have the HR competency to do it
- lack of interest (senior management doesn’t have an interest in it only look at short-term horizon)
What are the 4 main typologies from the sonnenfeld & Peiperl article
club: hire from internal people and make the decision based on their contributions to the group, like a club encouraging good people to stick around and reward loyalty
baseball team: look externally to get the best people they can get at any stage in their career, and look at their individual contributions
academy: prefer to hire from within, get people early in careers very specialized and based on individual contributions
Fortress: when they have key management or critical positions, they hire externally. When they look at contributions they look at team. Bc the org more likely to be in difficult stakes. HR department operating like a fortress. People don’t expect to stick around a long time
Which of the 4 talent management typologies would do succession management
club and academy
Which of the 4 talent management typologies would not do succession management
baseball team and fortress
Which of the 4 organizational strategies correspond to each of the talent management strategy
defender: club
prospector: baseball team
analyzer: academy
reactor: fortress
T or F, organizations will modify the approach they use as the corporate strategy changes
true
T or F different parts of the organization you might have different approach for succession management for different area
true example St mikes: on admin side it might be more club based, but on physician side operating like an academy)
what are the 4 criteria for effective succession management
- program has stated goals
- program has formal operating policy and procedures
- program is linked to other hr and organizational processes
- program has feedback mechanism
What are the 5 steps in the succession management process
- align succession management plan with organization’s strategy
- establish key positions for succession and skills and competencies to me strategic objectives
- assess relevant employees for performance and potential
- provide developmental opportunities
- monitor/evaluate program
What are the 2 approaches to establish key positions
job based and competency based
What is the difference between performance and potential
performance is behaviour that is relevant to the organization’s goals that can be measured in terms of contributions to the goals
potential means who has the potential to do more
what are 3 ways to evaluate performance
employee performance summary for past year
employee judgement evaluation
employee strengths, areas for improvement
What are 4 ways to evaluate potential
psychological and cognitive capacity (ability to learn faster than peers)
willingness to develop and perform on higher level
significant emotional intelligence
ability to take on new challenges and master them
what are 6 ways to identify potential
from the manager and their direct reports
employee records
industrial psychologists
private consulting firms and public university assessment centres
360 degree feedback
work samples
which 2 domains does a 9 cell table measure and what are the 5 names for how to classify people
performance (low medium high) and potential (low medium high)
future star
current star
ok
dilemma
Bad fit/hire
What are 5 ways to develop high potential performers
job rotations
formal training
mentoring
coaching
promotion
what are 4 issues to succession management
- Fairness
- Equity
- Aging workforce
Changing expectations
what are 4 challenges to succession management
- Assessing potential
- Delivering effective programs
- Maintaining programs through tough economic times
Keeping techniques & tools current & fresh
define merger
the combination of two organizations to create a third organization
what is the difference between a horizontal and vertical merger
horizontal merger merger of two competitors
vertical merger the merger of a buyer and seller or supplier