Written by Jo Dakin
Succession planning takes internal people and develops them so they can fill a leadership role in the future. Since every company is different, the succession plan for your company requires careful tailoring to meet the needs of your business.
A good starting point is to review the characteristics necessary to fill key roles. When hiring candidates in the company, these are the items you closely watch for in future leaders. Ideally, you’ll have someone you bring internally on a smaller scale and develop their skills so they can eventually take over a position.
At this time, it also pays to have a backup candidate in place. Life events can happen in a moment. Someone may pass away, become seriously injured or move across the country. For these potential other candidates, boost their skill sets in areas that also fit in with their job. You won’t want to fine tune their training in a specific area, until you’ve determined there is a need to.
When considering an individual, listen to the advice of other trusted advisors within the company. Often, we see a small portion of who they are. Others may witness variations in their character and work ethic when you are not around. This is important to note as it allows you to avoid further problems later on.
Once you have feedback and have determined a person is a match, incorporate training and seminars. This is critical for employee engagement and keeps a top tier employee invested in the company. As you have them attend training, let them know the vision you have for their career. You’ll find they are more likely to remain loyal to the company and they continuously deliver 100% every time.
With an individual chosen and development started, it is important to continue to monitor their development. It is critical to periodically review their process and verify there are no problems along the way. If you notice they are struggling in an area, offer them guidance.
It is critical to have a succession plan in place in order to deal with changes in your company. Having this vision in place helps you to better monitor staff and evaluate situations. This will ultimately help the company to continue its forward motion and avoid a situation where a key role isn’t filled with the best person possible.