Network teams with Deloitte to develop succession plan
Friday, June 05, 2009
The Network of Executive Women has developed a new succession management strategy, thanks to work by a committee of Network members and expertise and resources donated by Deloitte Consulting LLP.
“Succession planning is critical to the successful future of any organization,” noted Network President Alison Kenney Paul, a principal in Deloitte’s Chicago Consumer Products Practice. “It is especially challenging for a volunteer-driven group like NEW.”
The Network’s proposed succession management strategy leveraged fresh input and benchmarking to build on existing processes and create new tools, timelines and role descriptions. Key objectives of the plan are the development of sustainable leadership and “to move beyond a culture of individual contributions to a culture of organizational sustainability.”
The right team
The Network’s Succession Management Project Committee began work in January and issued a report to NEW’s Board of Directors at their April meeting. The committee, chaired by Michelle Murphy, senior vice president for labor and employee relations at SuperValu, was comprised of: Betsy Hosick of Chevron; NEW Director of Client Services Nancy Krawczyk; John Morioka of the Target Corporation; Kelly Munro of Procter & Gamble; Joy Nicholas of RBS WorldPay, Luci Sheehan of the Umbria Group; Regenia Stein of Kraft Foods; and NEW Executive Director Joan Toth. Alison Paul advised the committee along with NEW Secretary Kim Feil of Walgreens.
A team of five Deloitte experts led by Deloitte Principal Bill Chafetz supported the process: Tracy Heath, Monisha Kar, Xiomara Padamsee, Karen Schaefer and Eileen Schreiber.
Building blocks
“The Network has entered a new phase in its development,” Paul observed. “We are a larger, more mature organization that requires continuity in its leadership. We must also make sure that our leadership has the diverse strengths and skills needed to identify areas of opportunity,” she said. “Clarity about skills and transparency in succession processes offered by this plan will help the Network continue its growth and meet its mission in the years ahead,” Paul said.
The plan is focused on succession management for NEW officers and executive committee chairs with a secondary focus on succession management principles for the Network’s At-Large Board of Directors as part of the Network’s talent pipeline.
The committee “interviewed external sources about their approach to succession management and interviewed NEW leaders” to understand the Network’s existing succession management process. The resulting recommended process flow has four stages that focus on preparation, pipeline building, position filling and knowledge transfer. The process is designed to identify potential officers and committee chairs in three pools – the current board of directors, regional leaders and, less frequently, representatives of Network sponsors not already serving in NEW leadership.
New building blocks and tools support the process, including job descriptions, self-assessments, mentoring and knowledge transfer. One key tool is an annual board-wide evaluation conducted by the Network’s board that will monitor effectiveness in key areas. Another critical tool tracks upcoming officer vacancies and identifies potential successors and their skill sets.
Deloitte also conducted a separate talent assessment process for the Network’s staff members. “While the need for succession planning is not as critical for our staff as it is for our officers, staff productivity is critical,” Paul said. The recently concluded staff assessment, led by senior Deloitte consultant Monisha Kar, resulted in new job descriptions and improved clarity about staff responsibilities, Paul reported.
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