Workforce Planning & Talent Management Flashcards
(109 cards)
1
Q
What is Workforce Planning & Talent Management
A
- “A cluster of competencies related to the recruitment and deployment of HR within an organization”
- Workforce planning involves a lot of analytics.
2
Q
What is a Prediction?
A
A single numerical estimate of HR requirements associated with a specific time horizon and a set of assumptions. There can be different internal and external assumptions (Ex: based in what is happening in the economy)
3
Q
What is a Projection?
A
Incorporates several HR estimates based on a variety of assumptions. We are projecting into the future diff HR requirements based in different assumptions (low, medium and high projection, plan programs for different cases)
4
Q
What is an Envelope?
A
An analogy in which one can easily visualize the corners of an envelope containing the upper and lower limits, or “bounds” of the various HR projections extending into the future. Allows us to visualize the boundaries of projections or predictions are.
5
Q
What is a Scenario?
A
A proposed sequence of events with its own set of assumptions and associated program details. (or also called: Scenario of forecasting)
6
Q
What is Contingency Planning?
A
- Plans or plans to be implemented when unanticipated changes to organizational or environmental factors which may negate the usefulness of the existing HR forecasting predictions or projections. Good to understand something unanticipated may happen (likely to happen). This allows us to change direction, have a backup plan. (ex. originally thought they would lay off 40 people, didn’t come up because we didn’t predict a competitor going bankrupt. Contingency plan was that we aquired the bankrupt company)
7
Q
What does Staffing contribute to?
A
- Organizational goal attainment (ex. Survival, profitability and growth).
- Acquisition of leadership talent
- Competitive advantage for the organization
- Ensuring sufficient number and type of employees
8
Q
What is the Goal of Workforce Analytics?
A
To provide an organization with insights for effectively managing employees so that business goals can be reached.
9
Q
What is the Challenge of Workforce Analytics?
A
Identifying what data/information should be captured. How to use the data to predict capabilities so the organization gets an optimal return on investment
10
Q
What is the aim of Workforce Analytics?
A
- Applying analytic processes to the HR department with the view of improving employee performance and return on investment. (Ex: whether recruitment methods or hiring decisions need to be improved. Identify needs for new departments or positions, what can be assigned or eliminated. Identify and quantify employee job satisfaction)
- Examines both the efficiency and more importantly, the effectiveness of the programs. Guide continuous improvement initiatives.
- Aims to provide insight into each process by gathering data and the using it to make relevant decisions about how to improve these processes
- Correlate business data and people data, which can help establish important connections
- Key aspect of it is to conclusively show the impact the HR department has on the organization.
- Establishing a cause-and-effect relationship between what HR does and business outcomes, and then creating strategies based on that information
- Workforce analytics enables the HR professional to identify the unique performance drivers within their own organizations.
11
Q
What is an impact statement?
A
-Impact statements can be used to develop momentum in the business. People pay attention when it shows an impact on the business
Examples: - What impact does a sales training have on revenue development?
- What impact does low/high engagement have on turnover?
- What is the impact of a good on-boarding program on productivity?
12
Q
What is Workforce Planning?
A
- Determines the Human Capital need
- Analyzes what is available
- Identifies the actions required to ensure the right people are at the right place at the right time, doing the right things, to fulfil the organization’s strategic and operational plan
- generation of business intelligence
- Enables the company to be resilient to changes
13
Q
What is Strategic Workforce Planning?
A
- may cover 3-5 years (can include scenario planning where a number of scenarios are considered)
14
Q
What is Operational Workforce Planning?
A
-Planning may cover 12-18 months (aligns with timeframe of business cycle)
15
Q
What is Human Capital and Talent Management Plan?
A
- Where are your future employees coming from? where are they coming from? Internal or external? How will you engage them and move them through the organization?
- The stock and flow of people
16
Q
What are examples of questions to ask in a Strategic Plan?
A
- Will planned growth or shrinkage require new recruitment strategies, selection techniques, or training programs?
- Will new business goals require new work procedures, employee performance standards and training?
- WFP helps us link HR strategies to desired business outcomes. (Ex: if planning expansion and promote from within, need to assess their talent. Requires a creditable management system, may need an audit)
- Will other major changes require additional “change management” or employee/labour relations support? (Answer is likely yes)
- Changes in the market, labour pool, or legislative action. What’s happening in the labour market? labour pool or new legislation? stakeholder demands? what do our customers want? what does the organization want?
- Will new customer/stakeholder demands require new performance management standards, work methods or reorganization?
- Is our workforce profile (ex: age, gender, ethnicity) changing how employees relate to each other and to our customers? How many males do we have? How many females?
17
Q
What are some Workforce Maintenance Issues?
A
- staffing levels and sustaining employee knowledge and skills. (A business strategy objective can be to aim to just stay the same).
18
Q
What are some Workforce Risk Management Issues?
A
- Workplace safety, employment liability and business continuity following a critical accident
19
Q
What are some Workforce Enhancement Issues?
A
- Improve operational efficiency or improve organizational culture and performance.
20
Q
What are examples of some Strategic Questions?
A
- Is our current training plan keeping staff knowledge and skills current with industry standards?
- Is the company up to date with certain skills?
- How prepared are we to manage/redeploy staff in the event of a critical incident that disrupts business operations?
- We identified contingency planning at the beginning of the unit. Do we have the necessary people and skills if needed to do this.
- Are staff performing at the desired level?
- Do staff demonstrate the values and behaviours necessary for the organization to be successful?
21
Q
What are some Internal Capacity Factors?
A
- Workforce demographics (ex: major job categories, union membership, age/race/gender percentages) Do you have job profiles?
- Internal candidate pools, candidate recruiting programs, and screening and selection strategies. Where are your pools of employees? how are they moving through positions?
- Current and projected internal workforce competency requirements (knowledge, skills, abilities and behaviours)
- Organizational design (ex: supervisor span of control, centralization vs. decentralization, and distribution of specialists and generalists)
- What does our org structure look like? Centralized or decentralized? Span of control large or small?
- Workforce Distribution (ex: work locations and travel requirements)
- Work flows, methods and processes. How do channels of communication work?
- Human resource systems (ex: compensation classification, work rules and policies, collective bargaining agreements, and performance management strategies)
- Need work rules, collective bargaining agreements in some instances
- Interdependencies between departments caused conflict or confusion because management style was very controlling. Would have had more effective workflow if more empowering perhaps.
- Recognition and assessment of current situation and projection of the current state.
22
Q
What is HR Forecasting?
A
- Ascertaining the net requirement for personnel by determining the demand for, and the supply of HR, now and in the future.
- Forecasting our demand and supply, who we have, where they are coming from, will they stay or leave = heart of HR planning process.
- May be easy for a small organization but challenging for larger ones (ex: a municipality, the government of Canada) Requires forecasting with often statistical modeling.
- HR Forecasting constitutes the heart of the HR-Planning Process
23
Q
What is Transaction-based Forecasting?
A
- Focuses on tracking internal changes instituted by the organization’s managers.
- (Ex: Manager decides product area needs to increase sales. Suggest alternative strategies like increase sales training or adding more employees. Together you decide to add 2 more employees from internal workforce. HR job to provide info on who is available, when, comp, training, best hiring process to use, etc. May need to now find people for vacant positions)
24
Q
What is Event-based Forecasting?
A
- Forecasting that is concerned with changes in the external environment
- (Ex: can stem from changes in the dollar or price of oil, demographic shift, moving to different provinces, changes in demand for labour in certain industries) (Ex: technological, political and societal changes)
25
What is Process-based Forecasting?
- Focuses on the processes used that impact the flow of work
- Focuses on the how, not the what. How work flows today and how they may change in the future. How the sequencing of work may shift the resources we need
- Ex: processes in a coffee shop. In Starbucks, place order and go to next station, at Tims, the cashier is also the person who fills their order. These 2 process have a difference in skill set of the individuals, etc. Need individuals who specialize in creating the beverages so they are different than those who are cashiers.
26
What are the 4 HR Forecasting Time Horizons?
- Current forecast:Immediate operational needs of the organization - up until the end of the current operating cycle - or a maximum of one year into the future
- Short-run forecast: HR requirements for the next 1-2 years
- Medium-run forecast: HR requirements for the next 2-5 years
- Long-run forecasts: more than 5 years into the future
27
What is Human Resources Demand?
- A Requirement
- The organization’s projected requirement for HR (definition) (both now and in the future)
28
What is Human Resources Supply?
- The Availability
- The source of workers to meet demand requirements, obtained either internally (current members of the organization’s workforce) or from external sources. (definition). Both internal and external sources
29
What are the 2 Demand Forecasting Techniques?
1. Objective Approaches: Index/Trend Analysis & Regression Analysis
2. Subjective Approaches: Delphi Technique & Nominal Group Technique
30
What is Index/Trend Analysis?
- Useful when the demand for labour is connected closely to something like production, ex: useful in manufacturing
- the process of identifying and interpreting patterns and changes in data over time
31
What is Regression Analysis?
- statistical regression to understand change in one variable (dependent) when there’s a change in one or more predictor (independent variables) while holding all other variables fixed.
- Number of human resources needed is always the dependable - always trying to predict. Independent variable would be for instance the change in the economy or Canadian dollar in this example
32
What is Nominal Group Technique?
- subjective method, assumptions of the experts. HR planner needs to select a set of appropriate experts in the field to arrive at a forecast. A benefit is because it is done through questions it reduces issues like shy people not speaking up or someone scared to share their opinion if they are of lower status
- a structured variation of a small-group discussion to reach consensus
33
What is the Delphi Technique?
-After preparing forecast, experts are brought together to bring their rationale in a face to face environment and then the experts cast a secret vote. Issue is time and cost to bring experts together to go through the process
- a process used to arrive at a group opinion or decision by surveying a panel of experts
34
What are some of the Supply Forecasting Techniques?
- Markov Analysis
- Linear Programming
- Skills and Management Inventories
- Succession/Replacement Analysis
- Movement Analysis
- Vacancy Models
35
Explain Markov Analysis:
- The Markov Model produces a series of matrices that detail the patterns of movement to and from the various jobs in the organization
- This quantitative model requires the use of transitional probabilities or likelihood that an individual will exhibit movement behaviours
- The idea is that we can capture effects of internal transfers and changes in employment levels
36
What is Linear Programming?
- A complex mathematical procedure, commonly used for project analysis, engineering, etc
- It can determine the best supply mix solution to minimize costs or other constraints, such as desired staffing ratios. Ex: conditions such as desired staffing rations (internal/external) can be programmed in the equation.
- The internal/external mix of candidates can be programmed into the equation for determining HR supply
- It enables HR planners to calculate “what if” scenarios by changing or relaxing various model assumptions.
- As in regression analysis, must be linear relationships among the elements.
37
Explain Skills and Management Inventories:
- An individualized record for managerial, professional or technical personnel that includes all elements in the skills inventory with the addition of information on specialized duties, responsibilities and accountabilities
- History of management and professional jobs held
- A record of management or professional training courses
- Key accountabilities for the current job
- Assessment centre and appraisal data
- Professional and industry association memberships
- It is the starting point for taking an inventory of who you have internally
- In a state of constant change you need to be prepared with an internal account of who you have available in what positions and any other information the organization requires if the company is contemplating mergers, downsizing, etc.
38
Explain Replacement & Succession Management:
- Replacement management is the process of finding employees for key managerial positions
- Replacement planning is focused narrowly on identifying specific back-up candidates for given senior management positions
- Succession management is the process of ensuring that pools of skilled employees are trained and available to meet the organization’s strategic objectives. Increases level of experience as those roles become available
- Building a series of feeder groups up and down the entire leadership pipeline
- Replacement planning for key roles is the heart of succession planning. Effective succession or talent pool management is building a series of feeder groups.
- Philosophy: Top talent in the corporation must be managed for the greater good of the enterprise
39
Explain Movement Analysis:
- Analyzes personnel supply, specifically the chain or ripple effect that promotions or job losses have on the movements of other personnel in the organization.
- Identifies the total number of vacant or open positions in the organization or department as well as the total number of personnel movements that are caused by replacing and filling these positions.
- Ex: in a unionized environment, workers may have bumping privileges, if they get laid off they can bump a person with lower seniority from other job classifications if the employee has the ability to perform the job.
- Planning time is typically one year where we identify the number of people within a department or authority level.
- Look at changes in staffing in the year
40
Explain the Vacancy Model (Also known as renewal or sequencing model):
- Analyzes flows of personnel throughout the organization by examining inputs and outputs at each hierarchical or compensation level. More predictive capacity over short and long term periods compared to Markov.
- Time frame is one year into the future
- Identifies the specific number of external and internal personnel required at each level and for the organization as a whole.
- Calculates personnel supply requirements from the top down, beginning at the highest authority level, because the normal direction of movement in an organization is from the bottom to top.
- Need for personnel must be by external recruiting, promotion of internal employees or the combination of the 2 approaches.
- This model is sensitive to changes in the economy. Need a relatively stable environment for it to work
41
What are some examples of possible movements or changes that employees can make?
- demotion
- remaining in the current role
-promotion to a higher classified role
- exit from the job (termination, layoff, etc)
42
What are the 4 Stages of the Forecasting Process?
1. Determining the Demand
2. Ascertain Supply
3. Calculate Net Requirements
4. Institute a Deficit (not having enough employees) or Surplus (having too many employees) Program
43
What does Determining the Demand entail?
- Determine overall demand requirements for personnel (i.e. what staff are needed, when and where). Need to know the numbers, competencies and numbers of each unit, retirement numbers, attrition, potential sick leaves.
- Open headcount for vacancies due to movement or promotion
- Consider the changes that will take place over the period under consideration
- Break it down further by skills and other supply characteristics
- Assess cost to determine feasibility
44
What does Ascertain the Supply entail?
- Ascertain your HR supply. This will determine how your demand will be filled (how to secure our demand)
- Internal Supply = existing employees (current members of the organizational workforce who can be promoted, retrained, etc to fill requirements. Look at skillsets they need, etc)
- Some large organizations will assign individuals to special products to keep individuals in anticipation of future needs.
- External Supply = potential employees that can be recruited
45
What does Calculating Net Requirements entail?
- Determine the net demand requirements that must be met from external environmental supply sources
- Compare your demand and supply to determine net numbers required.
- Replacement Supply = Those needed to replace employees who are leaving their position (termination, transfers, leave, voluntary turnover, etc).
- Change Supply = those needed as a result of changes such as new positions or vacancies being created
External Supply Required = Current Workforce Size X (Replacement % per year + Change & per year)
46
What are Examples of Deficit Programs?
- Hiring part-time, full-time or temporary employees
- Promoting or transferring staff to where they are needed
- Recalling laid off workers or retirees
- Contracting out
- Ex: If we need 500 individuals and internal supply is 300, we need to look externally for 200 to supply our demand
47
What are Examples of Surplus Programs?
- Employee lay-offs or terminations (can be temporary)
- Job sharing (when 2 or more employees perform duties of 1 full-time employee on a PT basis) and Work sharing (federal program, employees agree to reduce their hours)
- Ex: group of 10 employees working 5 days a week for 40 hours (400 a week) can agree to work 4 days instead. They can qualify for insurance benefits from the government
- Hiring freeze and natural attrition (rather than implement mass layoffs, they will downsize based on voluntary turnover, retirements) - this approach takes longer
48
How can you reduce HR Deficits?
1. Ensuring proper sourcing using all methods
2. Targeting candidates with desirable characteristics
3. Assessing abilities and capabilities
4. Orienting and on-boarding candidates so they feel at home
5. Understanding why employees leave
49
What are the 2 ways of Sourcing Candidates?
1. Internal Sources: - may come from any part of the organization
- Local, regional, national, global
2. External Sources:
- Word of mouth, referrals, active networking
- Job advertisements (most common method)
- Professional journals, public places, websites & job boards, newspapers, radio, TV, movie theatres, organization’s own career pages
- Employment Agencies - often have pools of candidates that can be sourced on your behalf
- Campuses
- Job fairs, co-op programs
- Industry Job Fairs held as part of an industry event & Conferences
50
What is the Big 5 Personality Model and what does each letter stand for?
Openness to new experiences
Conscientiousness
Emotional Stability
Agreeableness
extraversioN
Attitude and fit with the organization can be important or more important than just skills
51
What are Panel & Serial Interviews?
- number of people either at the same time or after another (not based on just one opinion meaning less bias from one person)
52
What are Situational Interviews?
- what you would do in a situation
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What are Behavioural Interviews?
- what did they do in a similar situation (actual situation they went through) - passed behaviour is the best predictor of future behaviour
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What are Case-based Interviews?
- usually for higher level individuals. Test a candidates technical knowledge and skills, leadership, strategic skills, ability to perform under pressure.
55
What are Stress Interviews?
-less common but more so for senior executives. Putting the candidate on the spot shows how well they can handle stress (attitude, problem solving skills, etc)
56
What are Mass Interviews?
- held for entry level jobs when many people need to be hired at once. May involve up to 6 individuals being interviewed at one time and taking turns. - assess how well they can collaborate, work together, communicate, etc.
57
Why are Structured Interviews better than Unstructured?
- ensures all the right questions are being asked
- can be compared in a reliable manner
- much less chance for any conscious or unconscious discrimination
58
What to Ability and Aptitude Tests assess?
- Skill & IQ
- Knowledge
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What do Emotional Intelligence Tests assess?
- Perceive use, understand and manage emotions
- Emotional quotient
- how emotionally aware and stable the candidate might be
60
What do Psychomotor Tests assess?
- Dexterity, coordination, steadiness, reaction time
- most effective to assess using tools , equipment, assembly line roles
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What do Physical Fitness & Medical Exams assess?
- discriminatory if just trying to remove “unhealthy” individuals
- only acceptable is required for the role.
- should be final step after offer is made
62
What is the purpose of a Work Sample or Simulation Test?
- Leaderless group discussion, in-basket exercises
- Ex: asking an artist to bring their portfolio, a cook to make something in the kitchen they would be working
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What are Honest & Integrity Tests?
- Covert & Overt
- paper and pencil exercises and answer covert or overt statements to assess their behaviour in being truthful.
64
What are the 3 ways to help keep employees?
1. Onboarding
2. Socialization
3. Orientation
65
What does Onboarding entail?
- key to helping retain employees
- info and activities to help the employee connect with the culture
- vision, mission and values
- tour of the facility, assigned a buddy to turn to
- one month or 3 month check in to ensure they are settling in well.
66
What does Orientation entail?
- policy handbook, overview of job goals, introduction to colleagues, expectations, etc.
67
What does Socialization entail?
- ongoing process
- priorities, how other areas are contributing to the overall success.
- When done properly, all aspects for HR has some part of socialization in them (training program, compensation program, etc)
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What are Exit Interviews and why are they important?
- These involve confidential interviews with resigning employees, conducted by HR
- To identify the reasons for leaving
- To identify opportunities to make improvements
- To formalize the separation process and complete the necessary paperwork
- To wish the employee well
- more information for reasons of departure can be made. Too late to retain employee but taking the info to heart may help avoid future resignations.
- Important to end on a good note
- collect material the former employee may have had (i.e. key fob, key pass)
69
What is Performance Management?
- a continuous process of setting objectives, assessing behaviours and performance outcomes
- Managers and employees work collaboratively to plan, monitor and review skills and accomplishments
70
What are the cycles of Performance Management?
1. Individual Performance Planning - Develop Performance Plans (Jan/Feb)
2. Coaching, Feedback and Progress Reviews - Meet to review progress, adjust plans as necessary (July/August)
3. Annual Performance Assessment - Formally assess performance for previous year (December/Jan)
71
Who are the Key Stakeholders of Performance Management?
- Executive Team: Set and communicate business priorities/strategy and annual business goals. Model good performance management practices.
- Individual Executive Leaders: Translate business goals and priorities into department-specific goals. Conduct performance management with direct reports.
- Managers: translate department-specific goals into work unit goals. Conduct performance management with direct reports.
- Employees: Work with manager to translate work unit goals into individual goals. Ask for feedback.
HR: Facilitate the performance management process and link to other HR processes
72
What are 3 types of Performance Management Methods?
1. Trait method: personal characteristics that contribute to high performance
2. Behavioural method: Observable actions that lead to high performance. Visible behaviours as they carry their job duties (Ex: following up with customers, quickly responding to requests)
3. Results methods - results that follow (Ex: finishing a project on time or on budget, customer service rating achieved)
73
What are the types of Trait Methods?
1. Graphic Rating Scales
2. Mixed-Standard Scales
3. Forced-Choice Method
4. Essay method
74
What are Graphic Rating Scales?
- uses ratings like poor, good, excellent or does not meet, meets, exceeds. Linear scale with tick boxes where you can check which meets the expectations
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What are Mixed-Standard Scales?
-descriptive rating definitions are customized and randomized for each trait, describing multiple levels of performance. Managers indicate whether the employee’s performance is less than, the same or more than described (Ex: scale may include “can always be counted on to meet their goals”, “sometimes misses deadlines”)
76
What is the Forced-Choice Method?
-the manager chooses between two statements that best describe trait (Ex: does this employee work hard or work quickly, creative or focused?)
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What is the Essay Method?
- open-ended comments. Time consuming but does allow for the identification of employees unique traits.
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What are the types of Behavioural Methods?
1. Critical Incident method
2. Behavioural checklist method
3. Behaviourally Anchored Rating Scale (BARS)
4. Behaviour Observation Scale (BOS)
79
What is the Critical Incident Method?
describes the incidents that define successful and unsuccessful behaviour. (ex: Favourable in a call centre, phone calls are recorded, can include remaining calm, introducing themselves, etc. Unfavourable critical incident would be loses patience with a customer)
80
What is the Behavioural checklist method?
includes a list of the desired behaviours/competencies.One of the oldest appraisal techniques. (ex: communicates clearly, keeps calm under pressure)
81
What is Behaviourally Anchored Rating Scale (BARS)?
multi-level performance descriptions are created for each competency/behaviour (one of the most valid method but due to detail, is most costly to design) (one job with 6 competencies and each is broken down into 5 levels of performance, 30 unique performance statements would need to be created with small it may not be too back but with large, it would be costly and timely)
82
What is Behaviour Observation Scale (BOS)?
uses a frequency scale against a behavioural checklist (ex: when assessing whether an employee communicated clearly, uses → common, sometimes, rarely, etc)
83
What is the Results Method?
purely on the results achieved as opposed to behaviours that contribute to achievement. Mix of results and behaviour = ideal because someone may achieve results but not have good behaviour
84
What are the types of Results Method?
1. Productivity Measures
2. Management by Objectives
3. Balanced Scorecard
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What are Productivity Measures?
the number of units produced, positions filled, candidates interviewed, etc
86
What is Management by Objectives?
- the achievement of pre-established goals. Measures against their achievement.
- When goals are created, they should be SMART
87
What does SMART stand for?
S - Specific (to be well understood)
M - Measurable (easy to see if achieved, not achieved or exceeded)
A - Achievable
R - Relevant (important enough to focus on)
T - Timely (involve a timeline)
88
What is the Balanced Scorecard?
- blend of financial, customer process and learning targets
- lead indicators of performance, actions and behaviours that lead to results
- processes and learning capability of the organization and employees
- lag indicators - results after the behaviours or actions take place
- customer satisfaction = lag, customer service = leading
- Result = lag, behaviours = lead → both are important
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What is Succession Management?
- The process of ensuring that pools of skilled employees are trained and available to meet the organization’s strategic objectives
- increases the availability of experienced and capable employees who are available when the jobs become available.
- We need to recruit locally and internationally and different industrial sectors
- Organizations need to establish the next leaders
90
Why is Succession Management Important?
- Provides opportunities for high-potential workers
- Identifies replacement needs
- Increases the talent pool of promotable employees
- Contributes to implementing the organization’s strategic business plans
- Helps individuals realize their career plans
- Encourages the advancement of diverse groups
- Improves employees’ ability to respond to changing environmental demands
- Helps managers make good decisions regarding downsizing or restructuring
- Help employee morale
- Need to increase talent pool of eligible employees, help them realize their career goals
- Tap into potential of intellectual capital
91
What are the 5 Steps of Succession Management?
1. Align Succession Management Plans with Strategy
2. Identify the Skills & Competencies Needed to Meet Strategic Objectives
3. Identify High-Potential Employees
4. Provide Developmental Opportunities and Experiences
5. Monitor Succession Management
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What does Align Succession Management Plans with Strategy entail?
- organizations must start with a business plan
- using environmental scanning, managers try to predict where the organization will be in 3 to 5 to 10 years
- Business plan or HR plan? What comes first? The answer is BOTH
- Need to find out where the organization is going, environment we operate in (stable or volatile?)
- Qualitative and quantitative data to determine the organizations future
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What does Identify the Skills & Competencies Needed to Meet Strategic Objectives entail?
1. Job Based Approach
2. Competency Based Approach
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What does the Job Based Approach entail?
- Focus is on duties, skills, job experience and responsibilities required to perform the job
- Not adequate since jobs change rapidly
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What does the Competency Based Approach entail?
- Focus is on measurable attributes that differentiate successful employees from those who are not
- Hard and soft skills
- Produces more flexible individuals
- We may ask which approach is better and since succession management is usually for senior management team, do manager have job descriptions that are focused on accountability or job duties, responsibilities, etc.
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What are the 3 types of Competencies?
1. Organizational core competencies
2. Role or specific competencies
3. Unique or distinctive competencies
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What does the Organizational core competencies entail?
- subject matter expertise or know-how
- Efficient processes
- Effective relationships
- high performance culture
- Core competencies have 3 main things: not easy for competitors to imitate, contribute to consumer benefit, be able to go to a number of potential customers
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What does the Role or specific competencies entail?
related to a job family
98
What does the Unique or distinctive competencies entail?
define competitive advantage
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What characteristics are required for about Core Competencies?
1. not easy for competitors to imitate
2. contribute to consumer benefit
3. be able to go to a number of potential customers
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What does Identify High-Potential Employees entail?
- Organizations use 2 main approaches for identifying successors:
1. Replacement charts - identify a short list of successor (when they will be ready)
2. Replacement tables - more details, not just top 3, career preference information
101
What are examples of: Provide Developmental Opportunities and Experiences
- Promotions - upward advancement, increase in rank
- Job Rotations
- Special Assignments
- Formal Training and Development
- Mentoring and Coaching
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What does Monitor Succession Management entail?
- Corporations with strong succession management programs have better revenue growth and greater profitability and market share
- HR metrics can be used to help monitor succession management
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What is important to note about Succession Management Measures/Metrics?
once we live by these metrics, we will be judged by them so we must be careful
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Examples of Succession Management Measures/Metrics?
- increased average number of candidates
- Reduced average number of positions having no identified successors
- Increased percentage of key positions filled according to plans
- Increased ratio of internal to external hires
- Increased retention rates of key talent
- Increased number of bosses as talent developers
105
What is Total quality management programs?
Total quality management (TQM) is a management approach that seeks to improve quality and performance at all levels of an organization. TQM focuses on continuous improvement, customer satisfaction, and teamwork.
Ex: program evaluation and review technique
106
What is vertical fit?
vertical fit, which refers to the degree of alignment between a firm's HR strategy and its business strategy.
107
What is horizontal fit?
horizontal fit, or the extent to which a firm's bundle of HR activities is aligned or mutually reinforcing.
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