Elements of the Succession Plan
The succession plan starts with a depiction of the company's future organization, describing those essential leadership and management roles for the company 3-7 years ahead. One approach is to chart the future organization using key roles or positions without reference to specific names or titles. Thus, the future organization chart might show the key roles as CEO, Operations, Finance & Admin, Sales Management, Marketing Management, Organization Development, Product Development, Process Engineering, Materials Management, etc.

For each key role, the critical skills, knowledge, and abilities are listed. These become the qualifications for future position holders and the development needs for succession candidates. The current leadership team then identifies at least one succession candidate (internal or external) for each key role in the organization. For each succession candidate listed, the leadership team prepares an individual development plan that describes how that candidate can acquire the requisite skills, knowledge and abilities to perform well in that key role.

Succession Planning Steps

Facilitate the management team in planning the organizational needs of teh company;

Guide the management team in defining the company's key leadership and management roles needed for achieving its goals, fullfilling its mission and realizing its Vision;

Help the management team put development plans in place that will help supply the human resources that the company will need to survive, grow and prosper;

Succession Plan Deliverables

The main deliverables are a succession plan that identifies succession candidates for each key leadership and management role in the company's future organization, plus individual development plans designed to prepare each candidate for assuming that particular key role.

Skills and Prerequisites The person coordinating the succession planning process must have strategic and operational planning experience, human resources and organization development knowledge/experience, and especially excellent coaching and facilitating skills. Often times, organizations rely on consultants to manage this process.

Typical Barriers

Most manufacturers recognize the need to set goals and devise action plans to accomplish financial performance results, but may not recognize the importance and value of developing their human resources to provide the leadership and management that is required for success. Management may regard the identification of succession candidates for positions they now hold as a replacement threat rather than a backup plan for orderly succession.

The Expected Duration of a Typical Succession Planning Process

Facilitating the succession planning process will take 25 to 50 consulting hours, usually spread over 4 to 6 weeks, depending upon the readiness of the company. The succession planning process will typically be done with the business owner and/or the CEO and human resources manager. A consultant is usually hired to act as facilitator, coach and professional business advisor. The pacing factor is often management's understanding of their future organizational needs and the development potential of their own people within the organization.

Invest a Few Minutes and Receive a Customized Facility Assessment

Are you looking to lower your energy bills, increase efficiency, and improve your bottom line? Walk through our new Online Facility Assessment Wizard. This tool has been developed for both commercial and industrial customers. Energy efficiency recommendations are provided, along with benchmark data and detailed information, to help you better understand your energy use. At the completion of this short six-step interview process, an online report will be provided to you with a set of recommendations tailored specifically for businesses in your industry segment. The report is personalized to address your facility's needs, challenges, and opportunities, and is provided to you at no charge. In the future you can find this and other useful tools under "Tools You Can Use". Get started now! >>

New ITAC Staff

ITAC welcomes two new staff members, Colleen Gibney, Technology Project Manager, and Ron Spinelli, Client Manager. Both are experts in their respective fields. Colleen is an experienced project manager with expertise in new technology commercialization. Prior to joining ITAC, Colleen was project manager for The CUNY Institute for Software Design and Development (CISDD), where she performed technology-based economic development outreach, project selection, and R&D implementation for CISDD's Partnerships for Innovation (PFI) grant. Previously, Colleen served as project manager to New York City technology companies, including Bigfoot Interactive and C3i. She has an M.A. in International Affairs, an M.S. I.S. in Information Technology Management and has conducted independent study work in technology commercialization. Contact Colleen at cgibney@itac.org.

Ron has over 25 years of experience in process engineering and over ten years of experience in operations management including COO and CEO positions. Ron has been involved with business start ups, turnarounds, mergers and acquisitions. His areas of expertise include developing and implementing strategic business plans to obtain increased profitability, developing focused management teams, and streamlining work processes. Ron has held senior level positions in Fortune 500 companies including President/CEO. Ron has also held board of director positions for various for and not-for-profit organizations. You can reach Ron at rspinelli@itac.org.

Training Grants Available

The NYC Business Solutions Training Grant provides New York City employers with support and funding to develop the skills of their workers. The grant is designed to address skill shortages, grow the City's economy, generate jobs, and help workers advance in their careers. To qualify companies must operate in one of the following sectors: Aviation, Construction, FIRE (Finance, Insurance, Real Estate), Healthcare/Bioscience, Hospitality/Tourism, Industrial/Manufacturing, Media/Film, Retail, and Technology. NYC Business Solutions Training Grant applications are reviewed and awarded quarterly. If eligible, your firm could receive a grant for up to half the cost of the proposed training. Employers can pay their share as a match in expenditures including employee wages, cash, employee release time, training costs or fees, books and materials, or software. For more information about this and other training grants, click here.

About ITAC

ITAC is a non-profit economic development organization dedicated to creating and retaining jobs for New Yorkers. We provide indepth one-on-one technical assistance for New York City manufacturers and technology firms to help them stay competitive in the marketplace. ITAC's unique combination of business expertise and expert resource network makes us a valuable partner to help NYC companies grow, change and thrive.

ITAC receives significant financial support from the New York State Office of Science, Technology and Academic Research (NYSTAR), New York's high-technology economic development agency, and the National Institute of Standards and Technology (NIST), and Manufacturing Extension Partnership (MEP). ITAC serves as NYSTAR®'s designated Regional Technology Development Center for New York City and one of nearly 350 MEP locations across the country and works directly with regional companies to increase their competitiveness and profitability.

November 2006

Succession Planning: The Key to the Future

Invest a Few Minutes and Receive a Customized Facility Assessment

New ITAC Staff

Training Grants Available

About ITAC


	November 2006 Succession Planning: The Key to the Future Customized Facility Assessment New ITAC Staff Training Grants Available About ITAC Succession Planning: The Key to the Future Succession planning is a systematic methodology for ensuring that the company has the leadership and management talent to sustain growth and profitability into the next decade. While the strategic and long-range plan sets forth the vision and strategic direction of the enterprise, the succession plan identifies the company's future organizational needs in terms of the skills, knowledge and abilities of its leaders, key managers and associates. Succession planning helps organization to build their capabilities by acquiring and developing the company's human resources.	Councilmember Diana Reyna (left) celebrates the grand opening of Nulux with Frank Conti (right) and Raul Romero (center). ITAC assisted Nulux in their relocation from North Brooklyn to Ridgewood, Queens as part of the North Brooklyn MoveSmart Initiative.
	Elements of the Succession Plan The succession plan starts with a depiction of the company's future organization, describing those essential leadership and management roles for the company 3-7 years ahead. One approach is to chart the future organization using key roles or positions without reference to specific names or titles. Thus, the future organization chart might show the key roles as CEO, Operations, Finance & Admin, Sales Management, Marketing Management, Organization Development, Product Development, Process Engineering, Materials Management, etc. For each key role, the critical skills, knowledge, and abilities are listed. These become the qualifications for future position holders and the development needs for succession candidates. The current leadership team then identifies at least one succession candidate (internal or external) for each key role in the organization. For each succession candidate listed, the leadership team prepares an individual development plan that describes how that candidate can acquire the requisite skills, knowledge and abilities to perform well in that key role. Succession Planning Steps Facilitate the management team in planning the organizational needs of teh company; Guide the management team in defining the company's key leadership and management roles needed for achieving its goals, fullfilling its mission and realizing its Vision; Help the management team put development plans in place that will help supply the human resources that the company will need to survive, grow and prosper; Succession Plan Deliverables The main deliverables are a succession plan that identifies succession candidates for each key leadership and management role in the company's future organization, plus individual development plans designed to prepare each candidate for assuming that particular key role. Skills and Prerequisites The person coordinating the succession planning process must have strategic and operational planning experience, human resources and organization development knowledge/experience, and especially excellent coaching and facilitating skills. Often times, organizations rely on consultants to manage this process. Typical Barriers Most manufacturers recognize the need to set goals and devise action plans to accomplish financial performance results, but may not recognize the importance and value of developing their human resources to provide the leadership and management that is required for success. Management may regard the identification of succession candidates for positions they now hold as a replacement threat rather than a backup plan for orderly succession. The Expected Duration of a Typical Succession Planning Process Facilitating the succession planning process will take 25 to 50 consulting hours, usually spread over 4 to 6 weeks, depending upon the readiness of the company. The succession planning process will typically be done with the business owner and/or the CEO and human resources manager. A consultant is usually hired to act as facilitator, coach and professional business advisor. The pacing factor is often management's understanding of their future organizational needs and the development potential of their own people within the organization. Invest a Few Minutes and Receive a Customized Facility Assessment Are you looking to lower your energy bills, increase efficiency, and improve your bottom line? Walk through our new Online Facility Assessment Wizard. This tool has been developed for both commercial and industrial customers. Energy efficiency recommendations are provided, along with benchmark data and detailed information, to help you better understand your energy use. At the completion of this short six-step interview process, an online report will be provided to you with a set of recommendations tailored specifically for businesses in your industry segment. The report is personalized to address your facility's needs, challenges, and opportunities, and is provided to you at no charge. In the future you can find this and other useful tools under "Tools You Can Use". Get started now! >> New ITAC Staff ITAC welcomes two new staff members, Colleen Gibney, Technology Project Manager, and Ron Spinelli, Client Manager. Both are experts in their respective fields. Colleen is an experienced project manager with expertise in new technology commercialization. Prior to joining ITAC, Colleen was project manager for The CUNY Institute for Software Design and Development (CISDD), where she performed technology-based economic development outreach, project selection, and R&D implementation for CISDD's Partnerships for Innovation (PFI) grant. Previously, Colleen served as project manager to New York City technology companies, including Bigfoot Interactive and C3i. She has an M.A. in International Affairs, an M.S. I.S. in Information Technology Management and has conducted independent study work in technology commercialization. Contact Colleen at cgibney@itac.org. Ron has over 25 years of experience in process engineering and over ten years of experience in operations management including COO and CEO positions. Ron has been involved with business start ups, turnarounds, mergers and acquisitions. His areas of expertise include developing and implementing strategic business plans to obtain increased profitability, developing focused management teams, and streamlining work processes. Ron has held senior level positions in Fortune 500 companies including President/CEO. Ron has also held board of director positions for various for and not-for-profit organizations. You can reach Ron at rspinelli@itac.org. Training Grants Available The NYC Business Solutions Training Grant provides New York City employers with support and funding to develop the skills of their workers. The grant is designed to address skill shortages, grow the City's economy, generate jobs, and help workers advance in their careers. To qualify companies must operate in one of the following sectors: Aviation, Construction, FIRE (Finance, Insurance, Real Estate), Healthcare/Bioscience, Hospitality/Tourism, Industrial/Manufacturing, Media/Film, Retail, and Technology. NYC Business Solutions Training Grant applications are reviewed and awarded quarterly. If eligible, your firm could receive a grant for up to half the cost of the proposed training. Employers can pay their share as a match in expenditures including employee wages, cash, employee release time, training costs or fees, books and materials, or software. For more information about this and other training grants, click here. About ITAC ITAC is a non-profit economic development organization dedicated to creating and retaining jobs for New Yorkers. We provide indepth one-on-one technical assistance for New York City manufacturers and technology firms to help them stay competitive in the marketplace. ITAC's unique combination of business expertise and expert resource network makes us a valuable partner to help NYC companies grow, change and thrive. ITAC receives significant financial support from the New York State Office of Science, Technology and Academic Research (NYSTAR), New York's high-technology economic development agency, and the National Institute of Standards and Technology (NIST), and Manufacturing Extension Partnership (MEP). ITAC serves as NYSTAR®'s designated Regional Technology Development Center for New York City and one of nearly 350 MEP locations across the country and works directly with regional companies to increase their competitiveness and profitability.