MMi’s Six-Step Approach to Talent Identification & Succession Planning
Knowing the specific strengths and weaknesses of the talent pool in your organization is essential in a competitive and rapidly changing business environment. As organizations change, job definitions and talent requirements also change. A new job or sudden vacancy is too often filled by a "hit or miss" internal or external talent search that's based on hastily prepared succession plans.
Some examples are...
- An internal search with scanty or inaccurate performance data can result in in-house successors who are ill prepared for the management and technical demands of the new job.
- An external search to hire "ready-made" talent without a clear and objective understanding of the job competencies required or a concrete candidate profile can prove costly and damaging.
MMi has helped a wide variety of technology, financial services and consumer services firms resolve their talent identification and succession dilemmas through a well-planned and integrated Human Resource Planning system.
Our talent identification process includes the following six steps:
Step# 1: Initial Up-front Planning
MMi meets with management to define its talent identification and human resource planning needs, long-term business plans and job requirements. We create a detailed project plan that includes objectives, strategy, timing, rollout communications and responsibilities.
Step# 2: Job Skill and Competency Analysis
Using both traditional interviewing techniques and a computer-based analysis process called the Objective Judgment Quotient (OJQ), MMi surveys all client stakeholders who are knowledgeable about the position and its requirements. These may include team leaders, managers, senior management, internal customers and staff reporting to the position. This multi-rater analysis produces a "true consensus" of all raters on those critical competencies that are required for success in the target position, or at a specific organizational level.
Step# 3: Competency-Based Talent Scan
Once specific job competencies and behaviors have been identified, MMi works with the client's internal resources to identify the talent pool of individuals who have the basic potential to assume the position. Using a custom-designed OJQ multi-rater process, each individual in the talent pool is assessed on each job-specific competency by only those raters who have an intimate knowledge of the person's past work performance. The result of this assessment is a true and objective consensus of the all the raters. To ensure fairness and confidentiality, MMi monitors each phase of this assessment process.
Step 4: Report Preparation
Within days, MMi creates confidential talent assessment reports in an easily understood format for analysis. The data will provide management with both an overview of the rank order position and "readiness" of each candidate in the talent pool. More detailed reports provide decision-makers with a report that details the specific strengths and weaknesses of each candidate on each job competency. Click here to view a sample OJQ report.
Step# 5: Report Analysis
MMi consultants meet with the management team to review the talent assessment information for the entire talent pool. Based on this data and other criteria, management decision-makers can make objective judgments concerning the "readiness" and skill development needs of each candidate. This process is highly reliable and defensible.
Step# 6: Follow-on Feedback and Skill Development
MMi consultants work with management to ensure that each candidate receives constructive feedback concerning his/her strengths and development needs. If requested, we can help prepare the successor candidate(s) for his/her new position. This may include development strategies such as: interim job assignments that stretch the candidate's abilities, mentoring by senior managers, and attending formal internal and external skill development programs. We also establish a follow-on process to ensure continued support and feedback