Talent & Succession Planning Guide

Quick Guide

Talent & Succession Planning Guide

This guide will provide you with all the information you need to understand our approach to talent and succession planning and what we all need to do to ensure we recognise our people’s development. You’ll find the details and processes we will use to identify and manage talent within TradeChoice.

TABLE OF CONTENTS

02 How We Assess Talent 03 Our Talent Review Matrix 01 Introduction and Why?

04 5 Easy Steps 05 Talent Ratings 06 Talent Mix 07 Development 08 Succession

Introduction and Why? Why do we do think about talent and succession? We have implemented a simple and straightforward method of identifying and mapping our talent that give us a clear picture of: Those who need support to improve their performance Those who have potential to progress further Future gaps in terms of successors or capability (and therefore the need to plan to train colleagues or seek to buy in skills externally)

Benefits for the business

We retain our best colleagues because they are engaged and feel they have career development. We save costs in recruiting and training new colleagues because we keep our people and promote talent internally. We have some great talent pipelines for leadership roles meaning we always have someone ready to take on the next vacancy, who already knows our business and can hit the ground running

We appeal to job applicants as being an employer of choice because we track, and are known for developing our people from within, meaning we are likely to be able to attract good candidates to us when we do recruit externally.

How we assess talent

Talent is essentially a measurement of performance and potential which we define as the below: Performance The proven ability to deliver sustained performance - this is about what was accomplished (results and completion of objectives and how it was accomplished (inputs and behaviours) Performance is measured by the overall review rating awarded in our Impact reviews. Potential The ability to quickly and effectively adapt, respond and be resourceful in the face of change. To be able to take on a new role or project learning as you go. Performing well and having resilience to see things through. It also signifies the ability to perform at one or two job roles above the current job role. TALENT

Talent Review Matrix Below is an overview of the Talent Matrix. The matrix is arranged to indicate where colleagues are based on the combination of their current performance and potential. For each category, you will see a description that describes a colleague’s current levels and any opportunities for progression, or an indication of required support. This will help you identify and plot where colleagues sit on the matrix.

Colleagues who are experts in their role. They have no desire for a move upwards.

Colleagues who are performing well and are likely to be in their current role for at least the next 12 months - 2 years. Impact Review Rating: Performing or above

Colleagues who are ready for a move upwards now.

Impact Review Rating: Performing or above

Impact Review Rating: Exceeding or above

Colleagues who are performing below expectations

Colleagues who are new Impact Review: Emerging

Colleagues who should be ready for a move upwards in 2-3 years

Colleagues on Long Term Sick/Maternity or other unusual circumstance

Impact Review Rating: Emerging

Impact Review Rating: Performing or above

TALENT REVIEW IN 5 EASY STEPS

2 It may be easier to fill the “outlier” box first followed by “needs improvement” as these will be perhaps easier to identify. 1 Think about how your team members are consistently performing, not just a point in time. Think about feedback you have received, Impact reviews. 3 Next fill in your “well placed” people who are performing well but are not looking for progression, or are not yet ready to progress. 4 Think about who would be your “experts” in the team who are brilliant but have no desire to progress.

Finally look at your successor list. Who are your emergency successors, successors in one to two years and so on. 5

Guide to assessing potential Talent Review Ratings

Likely position in the Grid

Potential Rating

Indicators

Happy doing what they are doing now, adding value to their role/branch Demonstrates positive proactive approach Keen to develop in their current role (getting better at what they do now) Unsure about whether they want to take on more responsibility. Demonstrates drive, hunger and a determination to succeed Continually strives for excellence, role modelling high standards Inquisitive about future prospects and keen to progress Assumes additional responsibilities at the next level, could do their managers job either now or in the future Seeks development on the job from peers or supervisors Demonstrates a good understanding of the company at a broader levels and ‘big picture’ thinking. Usually operates beyond what the job requires Encourages others around them to try to take a step up and take more responsibility Manages own development and career, demonstrates Demonstrates resilience and best practice for self care Demonstrates tenacity and drive to keep on going Consistently stretches beyond current role expectations and objectives Likes to take on challenges outside their comfort zone and performs well Is already acting at the next level up Demonstrates leadership abilities through initiative through vision, creative thinking and appropriate risk taking. flexibility and motivation to move roles. Offers, requests and acts on feedback

Well placed or Expert

Some

Successor (1-2 years)

Good

Successor (now)

High

Amongst a a population of colleagues, we’d expect to see a typical distribution of ratings across the 4 main categories as per below: Talent Mix Needs Improvement Successors Expert Well Placed Unless business results are exceptionally good, there would generally be some colleagues who need to improve, the bulk of colleagues will sit in well placed, there may be a handful of experts and likely only one or two successors.

Successors

Expert

Well Placed

Needs Improvement

Development

Assessing talent allows us to identify areas of development which will help colleagues reach their full potential. With development plans, colleagues can move between the talent matrix categories in line with their career aspirations and our succession plans.

Learning styles differ so understanding what suits someone best will help them achieve their development goals sooner. Think broadly across 4 different types of learning methods to find the right match and blend these for the best outcome in a tailored development plan with SMART objectives. Remember to review and include any development goals discussed in Impact Reviews as part of this process.

Development for Continuous Learning

Education - bitesize digital learning content through our LMS and internal/external training courses, webinars, TED talks etc. Experience - learning through secondments, stretch projects, working groups and new task assignments Exposure - building connections with leaders in the business or the wider flooring industry, through mentoring and coaching Environment - learning in the flow of work though the tools and systems readily available to us, building experience, capability and knowledge

Education Experience

Exposure Environment

Through talent mapping, you will be able to identify individual strengths and weaknesses and take proactive steps with tailored development plans for a high performing team and strong succession plans.

Succession

Succession planning ensures that we have the right people in place to take over key roles within the company when colleagues leave or retire. Identifying and developing colleagues as successors guarantees a smooth transition when someone in a critical role departs. It also helps to retain our own-grown talent. Succession planning supports our internal goal of promoting from within and works hand in hand with our learning journeys and career pathways to support skilled and capable colleagues to step into new roles.

Help! I don’t have any successors? Don’t panic, there are proactive steps you can take to to mitigate the risks by hiring for specific skillsets externally, looking at apprenticeships as a way of bringing new talent into the business or having career conversations with colleagues to re-evaluate their interests, goals and aspirations. Key Roles - these are our business critical roles. Typically these are our leadership positions but they also include identifying “single points of failure” where only one colleague has the specialist skills for a particular role. Emergency Successors - these are people who could step into a role temporarily in the “someone wins the lottery” scenario. They might not be a long-term successor, but they may have the skillset to hold the fort for a short period until a long-term replacement is secured. Ready Now - these are people who are ready for more challenge and responsibility now. They could step into a more senior role immediately with the trust and confidence that they would thrive in maintaining business continuity and driving growth. Future Successors - these are people who have the potential to develop into key roles in the future at 1-2 years or 3-5 years. By indentifying our future successors we can put in place development plans that will make colleagues “ready now” in line with future plans.