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What was the succession planning model that Energy Corps was
planning? Why did they choose it?
The Succession planning model that Energy Corps was planning was the
Inside-Out Model. The reason Energy Corps chose the model is as follows
As the team under Goodman achieved their revenue targets it would make
sense for the company to look for internal candidates (as they too have
performed and achieved their KRAs) who would fit the future profile with
the required skills and perform optimally through job rotation.
Pros
Cons
External
Candidates
NA
Job Rotation
A great way to
candidate
managerial skills
Assessment
Candidates expected to be
the front runners fared
poorly in the assessment
stage.
NA
Management
Styles
assess
overall
Overall, Energy Corp had list down its Vision and strategy and accordingly
align its requirement for the role of a CEO.
4. What are the critical success factors if the model followed by Energy
Corps is to succeed?
Strong Business Knowledge: It is important that the search for the new
CEO is rooted in the companys future strategy. Because the future needs
of the company could be quite different from its present ones.
Depth in HR discipline: Identifying the attributes required to
successfully execute the strategy will be key in deciding the success of
this plan. This will also help in devising a comprehensive profile based on
these attributes.
Strong talent authority: Rather than creating an idealized profile, it is
important to identify five or six elements that are critical. Prioritizing and
agreeing upon these attributes require a strong talent authority.
Trusted executive advisor: This could be an outside external advisor
who can monitor the external candidates as well successfully.
Courageous advocate: To facilitate a smooth transition, there should be
a committee that can be the frontrunner in implementing all aspects
related to change.