SUCCESSION MANAGEMENT – CREATING A SUCCESSION PLAN

Cindy: Hello. My name is Cindy. In this tutorial I'll show you how to create a succession plan. For this demonstration, I'm logged in as the VP of Talent. I'm contemplating retirement in the next couple of years and want to start grooming people for my job. 

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On welcome dashboard, under Career, the “Succession Plans” link is highlighted and clicked.

I will be starting a succession plan to see who my potential candidates will be. I will be creating my plan based on my job. However, you can see from the drop down that you could select other types.

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The “Plan Type” dropdown has possible selections of “Incumbent”, “Job”, “Job Family”, “Job Profile”, and “Position.”

I'm going to make this plan private. 

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By the Owner list is a clipboard icon. Clicking it opens the “Manage Owners” dialog.

Here I can choose to share the plan with others. I can add people and give them different administrator types. Since I'm doing this plan for myself right now I will not add anyone, but I can always add people later on.

Let's start by finding the best fits. 

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In the “Create Succession Plan” control, the “Find Best Fit” button is highlighted and clicked. This opens the “Find Best Fit” dialog.

Just a quick note, best fit analysis is only available when a job or position profile is associated with a succession plan or the incumbent's job. You may find the best fit button is grayed out, depending on what you're doing. The best fits analysis is based on a comparison of the criteria shown here. 

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Criteria list is highlighted. It contains rows for “Content”, “Competencies”, “Honors and Awards”, “Work Requirements”, “Languages”, “Degrees”, “Memberships”, and “Licenses and Certifications.” Each row has a “Priority” dropdown, a “Details” button, and a “Display in Results” checkbox.

The analysis provides a list of workers, along with a percentage that indicates how well each worker's profile matches the job or position. Here I can see that Brian Joseph is a 100% match, but he's the only candidate. If I change priorities and make degrees not a high priority, let's see what happens. Okay, by moving degrees to a low priority, we can now see Gloria Lorente is a match. I would really like to look at three to four people. Let's see what happens if I change the percentage of fit to 80%. Oh, wow, that's too many people. It looks like they're all 85% or less.

I think I'm going to go ahead and with Brian and Gloria. There is also someone I've had my eye on for a while. I will add her manually to the plan. 

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The “Find Best Fit” dialog is closed by clicking the “Ok” button. The “Select and Add” button is clicked opening the “Select and Add” dialog. The dialog contains a search panel containing inputs for Name, Job, Location, and Department. The name “Mullen” is typed into the name field and the “Search” button is clicked. The Search Results panel displays a list of matching records, in this case, one that relates to Jessica Mullen.

I want to add Jessica Mullen to my plan. Jessica is the VP of Comp, but she's been interested in talent for some time. Here I can see that Brian and Gloria both have high risk of leaving and impact of loss. Jessica, on the other hand, is at a medium risk of leaving and the impact would be low. Both Brian and Gloria are directors, and would need some additional training to move to the VP role. As directors with high impacts, if they leave we need to start looking at succession plans for them. Brian has a fairly new payroll team, so I think it would be about three years before he could move on. Gloria, on the other hand, has a strong team, so after training she could be ready in about a year. Jessica is ready now. She's an experienced vice president.

Let's go in and take a look at our candidates. 

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The Lorente, Carmina Gloria link is clicked opening the “Details” dialog for Carmina Lorente. This contains six tabs, “General”, “Succession”, “Experience and Qualifications”, “Performance”, “Goals”, and “Compensation.”

Here we can go in on each person and look at their succession plans, performance, goals, and compensation. 

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The “Add to Talent Pool” button is clicked opening the “Add to Talent Pool” dialog. Here a Pool Name is selected from all of the existing Pools and the candidates in the succession plan are listed. The dialog is closed by clicking the “Save and Close” button.

Before we finish the succession plan, let's add these people to the potential leader's talent pool so we can assign development goals and track their progress. Our succession plan is now complete. Below you can see the target chart showing the readiness of our candidates. We just completed a succession plan for a job. However, succession plans are not limited to a person or a job. Succession plans are designed for management to be able to mitigate the risk of what a vacancy could cause to their organization. For additional information, you can find learning resources in your Oracle Learning Library and at Oracle University. Thank you.