Mapping The Competition Should Be Part Of The Succession Planning Strategy
Mapping the competition is a smart way to stay informed and often used as part of the succession planning process. Knowing who and where the talent is inside and outside your organization is critical in the process of succession planning. Identifying top performers for high impact and high risk roles as well as having relevant compensation information is a very important component in starting the engagement process. It’s never too early to communicate and get to know potential top performers. In fact, consider putting the process in motion and start identifying, networking, engaging and recruiting future leaders that are the “right fit” for your organizations today. Allow mapping to be part of the process.
Mapping – Identifying The Competition: Start with the competition but do not exclude the companies that your company has had great success recruiting from. Below is an example of an organization chart that was created for a succession planning project.
Profiling The Talent: Now is the time to gather the intelligence that will assist with making smart hiring decisions. Getting to know the talent – who they are, what they do, career highlights, career history and compensation. Once the organization charts are created, profiles must be gathered. Additional information provided are direct dials and emails. An example of a biography included in a succession planning report:
- Daniel Pinto, Chief Executive Officer, Global Head, Investment & Corporate Banking Biography: Mr. Daniel E. Pinto serves as the Chief Executive Officer of Europe, Middle East and Africa at JPMorgan Chase & Co.
- Mr. Pinto serves as Chief Executive Officer of Corporate & Investment Bank at JPMorgan Chase & Co. since March 25, 2014.
- He serves as Chief Executive Officer, Chief Executive Officer of Corporate & Investment Bank and Chief Executive Officer of EMEA of J.P. Morgan Securities Plc.
- He served as the Head of EMEA at JPMorgan Chase & Co. He has been a Member of Executive Committee at World Business Council for Sustainable Development, Geneva since January 1, 2017.
- He served as Co-Chief Executive Officer of The Corporate & Investment Bank at JPMorgan Chase & Co. from July 2012 to March 2014.
- He serves as the Chief Executive Officer of Europe, Middle East & Africa Region at JPMorgan Chase & Co. since June 2011.
- He served as the Head of Investment Bank and EMEA at JPMorgan Chase & Co. He served as the Head of Emerging Market at JPMorgan Chase & Co. from November 15, 2006 to 2009.
- He served as the Head of Global Fixed Income at JPMorgan Chase & Co since April 14, 2012.
- Mr. Pinto served as the Head of Investment Bank at JPMorgan Chase & Co. and served as its Co-Head of Global Fixed Income from November 2009 to July 2012.
- He serves as a Director of J.P. Morgan Securities Plc.
Below is a link to one our succession planning projects. Click here for Part of A Succession Planning Report SGA Talent Completed Networking, Engaging, Recruiting – It is never too early to begin engaging a potential high performer. Consider starting today! With only 20% of passive candidates actively looking, the need to engage with high performers are important from the moment identified and when there is potential interest. Depending upon a company’s strategy, and process, the engagement process can start with an email, call, text or possibly even a face-to-face meeting. The good news is that mapping can provide a company with what is needed to start the process. As leaders think about succession planning, it is good to consider implementing mapping as part of the process. The process of identifying profiling, engaging and building a pipeline of external potential talent often results in the creation of an immediate pipeline of screened candidates, shortening what is sometimes considered a long cycle time of sourcing. Additionally, another huge advantage of mapping outside high performers is that there are available candidates with whom there is already an existing warm mutual relationship making for the process to be much easier as well. Are you using mapping as part of your succession planning process? Since 1989, SGA Talent has been supporting companies of all sizes with mapping and succession planning. We are here for you too. Happy Hunting! Best regards, Sheila Greco Contact Sheila Greco firstname.lastname@example.org