Succession planning is vital to ensuring that key roles stay filled with qualified, talented individuals. This is especially of importance for roles deemed critical to the success of the organization. If a key role becomes vacant without a plan to fill it, this gap can negatively impact an organization’s bottom line. If this happens too often with crucial roles, it can even threaten the organization’s ability to survive and thrive.
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So, what is succession planning exactly?
What Is Succession Planning?
At its heart, succession planning is the process of finding and grooming people within the organization to fill key roles when they next become vacant.
Succession planning can be viewed through either a narrow or broad lens. With a narrow focus, the key goal is to identify appropriate replacements for the critical roles in the organization and then take action to ensure these individuals will be ready to assume that level of responsibility when the time comes. Some organizations choose to utilize succession planning only from this perspective, focusing on executive and other key roles.
Taking a broader view, succession planning can also be applied across wider parts of the entire organization, if desired. This would involve a broader identification of individuals with potential and ensuring that they have appropriate experiences for taking on more responsibility, but not necessarily tied to a particular job. Obviously, this is a much more in-depth process.
By its very nature, succession planning is closely related to career development planning for high-potential individuals in the organization.
The Succession Planning Process
For a succession planning program to be successful, it must go beyond merely identifying the next in line to take the baton (a process that should involve skill assessment, personality assessment, and more). The individual or individuals chosen as potential successors for key roles then need to be prepared and ready to assume that role. This involves:
- Assessing the gaps between each individual’s current skill set and what is required for the role.
- Discussing career progression goals with each individual to ensure they would like o take the position on.
- Providing training and other professional development to close skill gaps as needed.
- Ensuring leadership engages with the individuals identified and gets them involved when appropriate for hands-on learning and other experiences. (For example, consider whether shadowing the role would be beneficial.)
- Ensuring the identified individuals remain motivated and engaged over time (to help ensure they do not leave the organization before the key role becomes vacant.)
Key Outcomes of Effective Succession Planning
Done well, succession planning doesn’t just mean roles will be filled when a key employee leaves. By extension, this means that the business will have continuity of operations even during times of high-level turnover. It means that there will not be a shortage of individuals capable of assuming leadership roles when a leader unexpectedly leaves the organization. This helps the bottom line, provides continuity of service and experience for customers, and even reduces overall turnover for the organization.
About Bridget Miller:
Bridget Miller is a business consultant with a specialized MBA in International Economics and Management, which provides a unique perspective on business challenges. She’s been working in the corporate world for over 15 years, with experience across multiple diverse departments including HR, sales, marketing, IT, commercial development, and training.
Succession planning also involves an administrative aspect. Succession planning and career planning need to be integrated into the organization’s performance management and employee development programs. It’s also important to always remember this: A succession planning process is continual, not a “set it and forget it” type of activity.