Deborah Cooper contributes to Recruiter
On 28 November 2007, Deborah Cooper, Director at Warren Partners, contributed a Masterclass in succession planning to Recruiter magazine:
Succession planning should be a given in a modern company, but a worrying number of businesses still have few, if any, strategies in place for their future leadership. It is becoming more and more difficult to find the best people as senior executive tenures become shorter and shorter, so recruitment professionals must encourage their clients to plan, and to plan early. The sooner research starts, the better and more suited to the role the candidates will be when the time comes.
Businesses should never underestimate the impact of talented people, as the loss of key individuals, whether through resignation or ill health, can be devastating to businesses. Although it is vital to retain existing employees, simply throwing money at them is not the answer – an increased salary will never magically turn a promising but inexperienced employee into a successful chief executive, no matter how great his or her potential.
Talent mapping
It is important, therefore, that businesses minimise their chances of being left deprived of important people. An effective way of doing this is by mapping talent. The client specifies what type of talent is required, and then the headhunter proactively identifies talented executives within specific functions or sectors, which may currently exist within their direct competitors or other market leading organisations.
Traditionally, succession planning would involve nurturing key employees within the organisation so they are ready to take the reins when the time comes. However, it is now essential to look externally, not only in case of emergency replacement, but also to ensure the widest pool of candidates to choose from. Talent mapping helps organisations to pinpoint exactly where the best talent is working. When done well, this provides a pipeline of candidates who have relevant experience, exceptional talent and the ability to move the business forward from where the previous executive left off.
Talent mapping works by tracking a sector’s high flyers and rising stars throughout their career. The best individuals are monitored and their profiles are constantly updated, so clients have an accurate picture of all the alternatives before they are needed. As a result, a shortlist can be speedily compiled, which is invaluable if key staff need to be replaced within a tight time limit.
Researchers map a function in order to produce an organisational chart, which gives context to how an individual sits within the business. Following this, the researcher or consultant will contact key individuals to assess the executive’s general background and aspirations. This personal approach does not rely on networks and databases, but adds an extra knowledge of the market to existing currency, as talent mapping can be used to benchmark internally and externally, assisting the succession planning process where business critical roles are involved.
When the time comes, talent mapping can also ensure that organisations are well perceived in the marketplace. Qualitative research makes sure that a company remains an attractive employer to the top people in the sector and that its salaries and benefits are truly competitive. Because the system can be tailored to the individual business, it is becoming an invaluable tool in terms of leadership and resource development.
Of course, it is vital that any talent mapping process is both precise and focused in order to achieve the optimum results. The recruiter must, therefore, communicate clearly with candidates to make sure that they are aware that they have been provisionally targeted for a future role rather than being offered a new position with immediate effect. However, talent mapping can be hugely successful if relationships are cultivated, as it can take years for an executive to be trained to lead an organisation.
November 2007
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