Diverse Succession Planning Introduction Academics and practitioners having been advocating for succession planning techniques thatenable enhanced identification of talent and improved bench strengths. Unfortunately, a lot of ignorance has been noted in the implementation of racial diversity and gender with succession planning. The paper will tackle the various reasons why developing and identifying minorities and women as successors for top positions is important. The paper will also scrutinize the advantages and disadvantages involved in identifying the most appropriate successor of a top seat. The various technicalities that women have to face after being given top seats will also be reviewed since the issue is a global drawback on talent identification. Why special succession planning programs directed toward minorities should be established? The main reason why succession planning programs are implemented is due to the competitive advantage they possess.
Allstate a leading insurance company explains that having large number of minority policyholders who can be potential successors is the core source of its competitive power. A renowned cosmetics maker also insists that its global success in marketing and developing cosmetics is a result of embracing succession programs and internal diversity (Delvin, 2010).
The Sarbans Oxley Act developed in 2002 could be another reason why companies are developing succession planning programs for the minorities in order to adhere with the law. One of the programs used by companies to develop minority executives is a plan that emphasizes on results, use of competency indicators and focusing on calculable track records to find talent. Unfortunately, the first method that was commonly used for finding talent in order to carry out succession planning had negative biasness and marginalized the minority.
The method used performance evaluations. Currently, for component assessment purposes when selecting potential successors companies are urged to use the anecdotal profile checkup method. When a study was conducted on talent identification, an intervieweeemphasizedthe necessity ofsetting objective standards on potential individuals (James, 2011). Another point that was also cut across was the readiness and willingness of promotions to balance unconscious biases that faced women. The retention of minorities such as women is crucial for program success and companies are devising new practices to address the situation. Firms are now using affinity groups to offer networking assistance and informal guidance.
Nike, for example, has affinity groups that are used to mentor minorities. In order to retain minorities, a lot of coaching activities have to be carried out by the senior executives tasked with the responsibility of ensuring diversity. This was after a keen scrutiny observation indicated that succession planning was related to retention( Wiston, 2011). Another interviewer also noted that there is need to warmly embrace women and minorities for the purpose of retaining them. Mentoring and coaching them would be the key practices responsible for their retention.
He also stated that his firm was reaching out to minority professionals at entry levels to discover hidden messages which are dire to development. Pros and cons of identifying best and best minority candidates Advantages Companies like Dell, Dow Chemical, Ely Lilly and Bank of America has established bench strengths for top seats by keenly connecting leadership expansions with succession planning(Delvin, 2010). McDonald’soffers a unique form of preparedness where, for example, after the death of Jim Cantalupo’s, the company was able to designate a capable replacement within 6 hours.
The replacement was very unique since normally it takes several months to make a formal and fit replacement. Later on Charlie Bell, Cantalupo’s successor, unfortunately resigned due to terminal illness. The company also stood out due to the fast appointment of Jim Skinner as the CEO. This was a noteworthy success within succession planning. Critics cited that competitive forces could have been the huge forces behind the perfect successive planning. As result of identifying a suitable candidate the company was able to evade a scenario where the firm could have faced a managerial failure.
Jack Welch the former GE CEO had a lot of emphasis on succession planning for the purpose of identifying the best candidates that can occupy top seats. He left a legacy when he established a program that promoted and developed talent within the firm. His program had a lot of advantages since more talented individuals who had not been recognized were discovered. Though they were not directly nominated for top seats they received better recognition due to their unique talents. The main purpose of identifying individuals that can succeed professional and managerial positions is due to increasing competition among organizations.
Identifying prospective leaders assists in growth of a diverse workforce due to the linkage with diverse management. If minorities are also included in the listing as prospective leaders, a large talent pool that is innovation based is created. Larger global markets are penetrated at ease as a result of easier talent identification brought about by recognizing minorities such as Latinos and Black Americans. The new research findings dictate that in the near future minorities and women will account for almost 70% of the total labor force(James, 2011) Procter and Gamble firm has steps and procedures put in place so that chief managers pin point three capable successors: an alternative replacement who can fill in the gap quickly; a strategic successor who will be expected to occupy the seat after specific period of time when given appropriate developmental experiences; lastly the diversity successor (George, 2010). Similarly Motorola tries to pin point three successors: an instant replacement, an individual that can fill the gap, the best qualified female candidate far away from the already identified two categories.
After four years, the number of minority female vice presidents in Motorola was increased from one to eleven after the program was implemented. The move generally was seen as a tactic to improve the environment women engineers were working on in the company. Disadvantages Distinctive challenges usually occur in professional work places where the smaller proportion consists of women or minorities. What makes the minorities visible is their level of uniqueness. They are, however, isolated due to the few peers they have. A recent study indicated that individuals who are in their initial career stages do not recognize senior women as role models.
They perceive them to be women behaving like men rather than women(Wiston, 2011). Females employed in operation based industries experience such challenges. Research also revealed that women faced a lot of difficulties when trying to gain acceptance in operations. The rejection made them begin to doubt the reason why they opted to pursue the career. The males downgrading the minorities such as women said the jobs were very “tough” which were petty explanations.
The scenario is very demoralizing since the experience gap denied to women reduces their chances of acquiring top executive ranks. Disappointments when selecting top officials might also be noted as a result of using external searches that have flaws and the use of internal succession in absence of development and succession planning. At Coca-Cola, for example, the replacement of Robert Goizueta with Douglas Ivester was a terrible move, which was an example of a succession failure. In simple the process of identifying a top official might be a rocky process if proper methods are not used.
A mistake that may cause a company to collapse or suffer huge losses. There is therefore need to embrace minorities to acquire a diverse pool of talent that will improve a companie’s competitive advantage. Conclusion Diverse succession planning is critical in organizational prosperity because it ensures a variety of talent to assume the responsibility of organizational management after the current executives have left. All companies should provide opportunities for minorities to be involved in successive planning as a way of maintaining equality among the organizational stakeholders.
The challenges arising in the process of diverse succession planning can be overcome if the managers adopt collective decision-making to deal with problems arising within the companies. References George, W. (2010). Developing the top of leaders. Boston: Harvard Business School Press. Delvin, K. (2010). Developing your leadership skills. Harvard Business Review, 81(12), 76– And Organizational Development Journal, 25, 73–91. James, E. (2011). Gender and diversity in organizations: Past, present, and future directions. Sex Roles, 45, 243–2 Wiston, J. (2011). the making of minority executives in America. Boston