Aakriti Jain

03/06/2015
Professor Long
Chapter9WeeklyAssignment
Q.YouaretheHRDirectorofalargemanufacturingcompanythatisapproximately50years
old.Thecompanyhasreapedthebenefitsofamostlytenuredworkforce,andmanyofthekey
workersarenowapproachingretirementage.Itisanticipatedthatapproximately20%ofthe
companysworkforcewillretireinthenextthreetofiveyears.Youarealsoplanningtoretire
withinthatperiodoftime.Toassistthecompanywiththeretirementtransitionprocess,you
want to present a business case to the President for a succession plan for several key
positions,includingtheChiefFinancialOfficerandDirectorofOperations.
B.ThesuccessoremployeeforthereplacementoftheChiefFinancialOfficerandDirectorof
Operationspositionsshouldhaveanadvancedlevelofworkexperienceinwhatkeyessential
functions?Howcanthecompanyhelpcandidatesgettheseexperiences?

ThesuccessorfortheChiefFinancialOfficershouldfirstlyhaveabachelor'sormaster's
degree in business administration,finance or economics. He must have 5 10 years
experienceintheproductionmanagementand/oraccountingofthefirm.TheChieffinancial
officer must possess strong analytical and communications skills to both understand
complicated financial data and effectively explain the ramifications of that data to the
workers they oversee. CFOs must also maintain vital leadership skills, such as
determination,decisiveness,accountabilityandselfconfidence,andbeabletoencourage
these traits in others. He should have experience is Total Quality Management,
bookkeeping,computerskillsinexcel,workoutlookandaccessandethicsstandards.He
shouldhaveexperienceistheaccountingandfinance,productionandqualitydepartment
andthestoresdepartmenttoplaninventorycosts.
TheDirectorofOperationsshouldhaveexperienceinFinancialManagement,communication
and computer skills, knowledge of government contract management and experience in
organizational effectiveness and operations management implementing best practices. He
shouldhavedemonstratedleadershipandvisioninmanagingstaffgroupsandmajorprojects
orinitiativesandethicsstandards.Heshouldhaveworkedintheproductionandplanning,
stores, the design and technical supportdepartment for researching new products or
modificationstoexistingones,estimatingcostsforproducingindifferentquantitiesandby
using different methods and the worksdepartment concerned with the manufacture of
products.
Thecompanycanhelpthecandidatesgetthisexperiencebymetricssuccessionplanning
andcomputerizedsuccessionplanningbyskillstrackingsystemstoseewhatskillsexistand
whatcanbefosteredandpostonlinejobopenings.Thecompanycanalsouseamakeor
buy system by tapping into new talent outside the company or by provide existing
employees opportunities to secure the perspectives required for the job and conducting
trainingprograms.Thecompanycanrecognizepotentialemployeesthroughanalyzingtheir
performancethroughmetrics andonline computerized planning and impart the skills to
theminthecourseofthethreetofiveyears.

Aakriti Jain
03/06/2015
Professor Long