Executive Summary
Fleet, Farm & Home (FFH) currently has 18 store managers over 65, with several contemplating retirement. With so many leaders potentially exiting the organization, it presents a challenge for FFH in a changing economy. As a result, FFH must implement a succession plan strategy to identify internal job progression and career pathing, address company-specific internal policies and implementations, and finally identify and develop training programs and development initiatives. Succession planning ensures a smooth transition after key employees retire, like the 18 store managers. The benefits of an effective succession plan include increasing employee retention and morale, a more diverse portfolio of leaders, having a stronger company culture and a future-proofed workforce. Specific to FFH, this succession plan aims to help current employees advance their careers and acquire new skills.
Career Development Plan
A successful career development plan is a document that describes an employee’s career goals and the path they will take to achieve those goals. A career development plan will include short-term and long-term goals, current skills, developing skills, and resources. The benefits of a career development plan include providing a roadmap for the future, identifying skill gaps, and inspiring motivation for the employee (Baluch, 2023). Given the current state of the business and future staffing concerns, FFH must create a career development plan to identify talent within the organization, further internal talent, and provide employees with a defined path to professional growth, job satisfaction and long-term success.
When developing FFH’s career development plan, Human Resources (HR) should first and foremost conduct a thorough skills assessment of FFH employees to determine present and future potential aptitudes, capabilities, knowledge,e and competencies. This evaluation will be the foundation for the employee’s professional growth and development plan. After the initial skills assessment, the career development plan should follow the following steps:
- Employee Goals & Plans (Career Path)
- Training & Development Programs
- Track Milestones
Employee Goals & Plans (Career Path)
The first step in creating a career development plan is to meet with each employee to discuss their personal and professional goals. As part of these discussions, it’s essential to review what the employee like or dislike in their current roles, what motivates them and inspires them professionally, whether they prefer to work alone or with others and assess their current education and skills. As part of these discussions, asking the employee if they are content working in an individual contributor role or interested in another position, such as leadership, is essential. Additionally, it is essential to gain feedback on the employees’ educational goals or if they have recommendations for future training opportunities. These conversations should be employee-focused; it is not the time to discuss performance concerns or issues in the workplace. This is an opportunity to learn more about the employees and gain insight into where they see themselves in the next few years. As an organization, FFH can utilize this as a retention tool and hopefully identify individuals who would be future great leaders for the company.
Training & Development Programs
To promote continuous growth for FFH employees, staff must be provided with training and development opportunities. Various types of training can enhance an employee’s knowledge, skills, and abilities, which could contribute to their success in leadership positions. A few examples that would fall under this realm include:
• Semi-Annual Retreats: All new and emerging leaders must attend this retreat. BreakingBreaking this out semi-annually would ensure appropriate leadership coverage at the stores and allow managers to rotate throughout the year and attend the retreat without leaving the stores unattended. The retreat could be for 3-5 days, providing multiple in-person training options to the employees. Training will include leadership skills training, conflict resolution, performance management, interview skills training, workplace safety, leave of absence and customer service. The retreat also allows the employees to come together and meet individuals from other stores and build relationships with each other.
• Learning Management System (LMS): Develop an online training tool where employees can gain access to a multitude of training options that can be completed online. Employees could complete training at their leisure, or specific topics could be assigned directly to the employee, and the training could be completed within a specified timeframe. LMS training would include computer skills enhancement training, Excel, Word, PowerPoint, Soft Skills, Workplace Safety, and many other options available to employees. Additionally, customer service skills training, sales and budget training, performance management training, ethics, diversity, etc.
• Job Shadowing: Allow employees to job shadow other leaders or employees for a week in different roles to gain insight and a firsthand view of what is expected of that role. This will allow the employee to decide if they have the skill set to perform this job or evaluate what additional training they may require before moving into that role.
• Education/Certification Reimbursement: FFH should develop a Tuition/Certification Reimbursement policy for FFH employees, outlining the specifics of what type of educational advancement, degree or certification, and grades are acceptable to request for reimbursement up to a specific amount. This would be helpful for employees currently working towards their degree, but could also encourage other employees without the financial means to potentially go to school and obtain their degrees and encourage them to strive for a leadership role within FFH. Tuition reimbursement policies would also be a recruiting benefit to attract new employees to the company.
Track Milestones
Once an employee’s career development plan is created, it is essential for Human Resources to meet with them periodically to track their progress, have an open dialogue on how their plan is working for them, and discuss whether their goals still align or need to be altered. By tracking milestones and having continuous discussions, the employee has the support necessary to accomplish their goals.
External Development Sources
Numerous external development sources can be utilized to supplement FFH’s existing training programs. Partnering with outside organizations and trade groups would FFH would benefit from tapping into its webinars, workshops, conferences, and other training resources designed to fit FFH’s needs. Leadership roles could benefit from training through these partnerships by obtaining certifications and attending seminars from professional organizations within a similar sector.
Conferences and seminars are great resources that leaders can attend to gain insight into new trends and best practices and expose themselves to a network of diverse individuals in their field. In addition to the above, partnering with executive coaching firms would be valuable for leaders to enhance their skills and overcome specific challenges and barriers hindering their potential growth. Executive coaches can provide one-on-one coaching with the leaders and tailor individual development plans to assist them in overcoming the obstacles presented.
Internal Policy Review/Implementation
Before FFH launches its succession plan initiative, it must review all current policies to determine if its internal policies need to be updated. We also need to identify what new policies need to be implemented to ensure ethical practices and compliance with all labor laws. These policies and guidelines are essential to fostering an inclusive culture and a seamless leadership transition.
FFH will need to evaluate its current internal transfer or tenure policy. This policy will include details and the parameters required for an employee to be eligible to transfer to another role within the company. Eligibility requirements to transfer to another role will consist of specifics around meeting requirements for a new role, tenure in the current role, and performance in good standing. This policy will ensure employees remain in their current position for a specific period decrease attrition and allow employees to become proficient in their current role before being moved into another. The policy provides equity amongst all employees and ensures that all are treated fairly for a potential new role within the organization.
Enhancing Performance Management Policies to Foster Leadership Development
FFH must also review its performance management policies and make necessary updates. Existing leaders should be encouraged to identify high-potential employees who could be future leaders at FFH. The performance management policy should outline and clear standards and benchmarks around performance. Including the criteria required to meet performance expectations in FFH’s policy allows for employee transparency and accountability. The set criteria are also beneficial for leaders in identifying their potential successors and initiating career development plans with those high potentials.
A robust training and development policy should also be implemented for FFH employees before launching the succession plan strategy. The training policy will explain what training resources are available for all employees and how they can access these tools to enhance their knowledge, skills, and abilities. It will also outline the steps required for employees to request training resources and what types of external training are eligible for reimbursement. Human resources should thoroughly review all policies and conduct an equity audit to ensure they promote equity and equal opportunity for all employees without bias or discrimination (Asare, 2020).
Impact of Diversity Planning
FFH must ensure diversity, equity and inclusion (DEI) objectives are embedded within the succession plan policy as part of the strategy. Implementing a DEI A focused succession process within the company culture helps negative perceptions associated with diverse hires. FFH must implement a robust internal succession process to prevent biases and challenges related to being perceived as a diversity hire (Edwards, 2023).
As FFH leaders identify high potentials for growth and consideration for promotions to leadership roles, HR must review not only those submitted as high potentials but also those who were not recognized as potential hires to ensure that all employees are provided the same resources and training opportunities for potential advancement across the board.
Succession Plan Strategy Recommendation
FFH has identified multiple store managers potentially retiring shortly. In anticipation of these departures, a succession plan strategy must be initiated. Companies should always be forward-looking and have a succession plan for when employees in significant roles retire, be promoted to higher positions or leave the organization. The alternative of not having a succession plan to fill key positions will potentially damage the organization’s operations, customer service, and overall reputation. FFH should implement a detailed succession plan strategy for each position to transition and avoid disruptions seamlessly. FFH must emphasize the training and development of employees that align with the business needs so the right talent is identified and put in the right roles to set them up for success. Below are the roles that FFH has identified as most significant to fill and suggested approaches.
Assistant Department Supervisors
The Assistant Department Supervisor position requires the individual to complete one year of college and work towards achieving a two-year degree. In addition, they must have completed one year of service in their current department. Department leadership will identify current employees working in their departments who have exhibited high performance in their roles, leadership abilities, and a desire for advancement.
The employees identified will be paired with a mentor, a member of leadership in a more senior role who can provide guidance and training and act as a coach in developing the employee for the Assistant Supervisor position. Cross-training will be provided whereby the identified employees will be exposed to other departments to gain new skills and experience. Throughout this process, the employees will have regular check-ins with their department leaders and Human Resources to evaluate their performance and gain feedback from the employees to determine their level of interest in future management positions.
Department Supervisors
The Department Supervisor position requires the employee to have completed a two-year degree and two years of experience in a supervisory capacity. Identify Assistant Department Supervisors performing at a high level through outstanding performance reviews, those exhibiting leadership abilities, and those who have a deep understanding of departmental goals and objectives. Once these individuals are identified, development opportunities will be provided, including leadership coaching, communication skills, and conflict resolution training.
Department supervisors should also be offered cross-departmental projects and temporary assignments within different departments and stores to give them exposure and allow them to gain knowledge and enhance their skills. In addition, developing a A structured mentorship program that would pair Department supervisors with senior leaders who would provide guidance and coaching and talk through best practices as a leader. Regular check-ins should also be conducted with Department Supervisors to review performance, track their growth and identify areas of opportunities for improvement or enhancement.
Shift Supervisors
The Shift Supervisor position requires the individual to have completed two years of college and are working towards their third or fourth year of college, as well as have a minimum of three years of tenure working at FFH within their department.
Leaders should identify individuals who exhibit flexibility, resilience, problem-solving skills and work well under pressure. They will job shadow current shift supervisors and attend leadership and conflict management training for their growth and development. Shift supervisors should be provided with opportunities for professional development, such as attending conferences or workshops to enhance their knowledge and allow networking with individuals in the same field. In addition, Shift Supervisors should be assigned a mentor who can provide guidance and resources as needed. Regular check-ins should also be conducted with the Shift Supervisor to review performance, track their growth and identify areas of opportunities for improvement or enhancement.
Assistant Store Managers
The Assistant Store Manager position requires a bachelor’s degree or completion within one year. In addition, the position requires a minimum of three years of supervisory experience. Individuals must also have at least three years of employment with FFH for consideration. Identify individuals in their current roles who have expressed a desire for upward mobility into a leadership role and have exhibited high performance in their current roles. Provide training opportunities that would benefit them in the long term and allow them to immediately use what they have learned.
MBA FPX 5310 Assessment 2 Succession Plan Strategy
Training in leadership, goal setting, performance management, budgeting, delegation, diversity, conflict resolution, and strategic management. Assistant Store Managers will partner and job shadow with peers in the same role at three other stores. In addition, they will be paired with a mentor of senior leadership who can provide guidance and resources and be a sounding board for best practices and business objectives. Regular check-ins should also be conducted on Assistant Store Managers to assess performance, track their growth and identify areas of opportunities for improvement or enhancement. Throughout these evaluations, the assistant store manager and their department head should identify future training and professional development recommendations.
Conclusion
FFH has identified the upcoming challenge for their organization, including approximately 18 store managers looking to retire. Their departures will leave a significant leadership gap across their stores. FFH must create a new job description for the FFH Store Manager position and implement a succession plan strategy to fill these future positions and allow for a smooth transition. Due to the high number of people, the HR team needs to post the position internally and externally. Posting internally aligns with FFH’s philosophy around career pathing and internal upward mobility. Although internal movement is positive for FFH, there will still be vacancies created by the promoted person. Implementing a succession plan strategy for leadership positions enables FFH to build talent within the company and fosters a positive culture where employees feel supported and valued.
MBA FPX 5310 Assessment 1 Recruiting Plan Strategy Report
References
Asare, J. (2020) How to Conduct An Equity Audit Of Your Organization. Retrieved from: How To Conduct An Equity Audit Of Your Organization (forbes.com)
Baluch, A. (2023) How to Create A Career Development Plan. Retrieved from: How To Create A Career Development Plan – Forbes Advisor
Edwards, D. (2023) How DEI Leaders Use Succession Planning to Develop Underrepresented
Employees for Leadership Roles. Retrieved from: How DEI Leaders Use Succession
Planning to Develop Underrepresented Employees for Leadership Roles | Board.org
