Reference no: EM132798940

CASE

Dointy Inc is a mid-sized financial services company that has been established for 10 years. To ensure short term or emergency staff back-ups are available, each manager does his/her own replacement planning work. A few managers go beyond this and groom two to three of their top performers ( based on their performance evaluation of those employee) to compete for management jobs.

Considering the competitiveness of financial services industry, the CEO, Joy Lila, realizes, not only the importance of business continuity, but also of her employees ability to respond to changing environmental demands. Joy has seen some recent turnover among senior managers due to early retirements and resignations, and she is concerned.

Some of the top performance being groomed, are not ready for the Management jobs while others are just replicas of the departing manager. She is worried that the company may have difficulties competing in the cutthroat industry that is facing an economic downturn

QUESTION:

Joy is hiring you, an HR consultant, to provide advice on how to change the companies use over replacement planning approach to a succession management approach.

Focus on THREE COMPARISON FACTOR between replacement planning and succession management that RELATE TO JOY CONCERNS. For each factor EXPLAIN how the company could move from replacement planning approach to a succession management approach, so address her concerns. (you must refer closely to the details of this case.)

Organize your answers under each comparison factor