The paper “ Human Resource as an Asset That Should Be Tapped to Ensure the Profitability and Continued Success of the Company” is a potent example of an assignment on human resources. Succession planning management is the process through which a business identifies employees who will take over managerial positions in the company shortly. It involves training them and preparing them for their roles. A successful plan ensures the continued success of the enterprise. Such a plan should be geared towards talent management and development. Proper succession planning management is important for the present and future profitability of the company.
This report will seek to understand the limitations of the succession plan adopted by Norman in the case study. The report will further recommend human resource practices that Norman and his company can adopt to ensure that the goals and objectives of the company are met. Question 1However, the plan by Norman in his company fails terribly. There are several reasons behind this failure of his plan. One primary reason is the motive behind the succession plan in the first place.
The need for the program emanates from the unpleasant experiences Norman had gone through when he took over as head of the company 18 years ago. Analysts of the enterprise also require a succession plan. A succession plan should come up with sound decisions made by the board and the chief executive officer having considered all relevant factors in play. The heir left the company as the Scheme was not a well thought and regarded one. It is not clear how the Aleph fits into the bigger picture with Tiverton. The role of Aleph is to identify talent and make money out of it.
It is a function that Derek has performed well in the many years he has been there. It is not clear how the management experiences in Aleph would help one to manage Tiverton. There exists no link between the two entities. They are different parts of the business. Derek is in charge of one, and Norman is in charge of the other. Sean is caught there in between and cannot find where he fits. The decision to move Sean from the financial, managerial position to work in Aleph was a huge mistake.
Sean is an entrepreneur, and he was well qualified for that title. He was however moved to Aleph to train him in operation and talent management. That is totally out of his line of operations, and it is evident he lacks an eye or ear top talent. His contribution to Aleph has been restricted to financial advice. He fears that his limitations would cause Aleph to crumble down in case Derek retired. It is for this fact that he decided to move out to Yosemite Capital where all his partners are financial guys.
Sean would be more comfortable in a financial position as opposed to talent management. The organization should nurture talent, according to their areas of specialization and their best performing areas. Talent management is to be lined up to expose and nurture the employees’ best gifts and ideas. It should not attempt to discover or look for gifts not previously present. Norman himself agrees that Sean has a real hand in making money out of company property.
Sean, therefore, has no business in getting tasks outside his routine. Scouting talents is not among his greatest talents, and it is evident that he is uncomfortable in the setting. He quickly realizes that this was his place and resigns the very following day. He walks out together with his associates.