HCAD 710 EXAM 4
succession planning - Answer-preparing single, designated successor
career planning - Answer-preparing several candidates for single position
All - Answer-All/Some companies should partake in succession planning
CEO & management - Answer-positions that use succession planning
1) set succession plan development in motion & direct governing body/board until plan operational
2) provides input on CEO selection - Answer-roles of CEO for succession planning
1) works with CEO, but has final accountability
2) actually selects new CEO - Answer-roles of board of directors for succession planning
internal hires - Answer-traditionally done by for-profit sector selection b/c maintains financial stability
, external hires - Answer-hiring someone from outside organization; maintaining financial stability
difficult (6-12 months to regain)
lead time - Answer-begin 4-5 yrs before CEO expected to step down; begin w/in 1 yr of hiring new CEO
saves money, maintains leadership continuity - Answer-pros for lead time
loses money; takes 6-12 months for finances to regain - Answer-cons for not doing lead time
search firms = 40% annual salary - Answer-cost of recruiting
1) negligent hiring can lead to defamation
2) unemployment costs - Answer-cost of employee turnover
1) provides HR with approved personnel req (replacement)
2) provides HR with accurate job description
-- (HR gets candidates)
3) select candidates from those provided by HR
4) interviews
-- HR offers job - Answer-manager role in soliciting candidates, interviewing, & hiring employees
best done through single HR - Answer-how best to check references
done by facts & from file; specific # - Answer-how best to share information with other employers
succession planning - Answer-preparing single, designated successor
career planning - Answer-preparing several candidates for single position
All - Answer-All/Some companies should partake in succession planning
CEO & management - Answer-positions that use succession planning
1) set succession plan development in motion & direct governing body/board until plan operational
2) provides input on CEO selection - Answer-roles of CEO for succession planning
1) works with CEO, but has final accountability
2) actually selects new CEO - Answer-roles of board of directors for succession planning
internal hires - Answer-traditionally done by for-profit sector selection b/c maintains financial stability
, external hires - Answer-hiring someone from outside organization; maintaining financial stability
difficult (6-12 months to regain)
lead time - Answer-begin 4-5 yrs before CEO expected to step down; begin w/in 1 yr of hiring new CEO
saves money, maintains leadership continuity - Answer-pros for lead time
loses money; takes 6-12 months for finances to regain - Answer-cons for not doing lead time
search firms = 40% annual salary - Answer-cost of recruiting
1) negligent hiring can lead to defamation
2) unemployment costs - Answer-cost of employee turnover
1) provides HR with approved personnel req (replacement)
2) provides HR with accurate job description
-- (HR gets candidates)
3) select candidates from those provided by HR
4) interviews
-- HR offers job - Answer-manager role in soliciting candidates, interviewing, & hiring employees
best done through single HR - Answer-how best to check references
done by facts & from file; specific # - Answer-how best to share information with other employers
