“Ten of eleven good-to-great CEOs came from inside the company…” Jim Collins, Good to Great 2001
Would an unexpected leadership void in a key position cause chaos at your company? Do you have a process in place to create the type of leadership that would make your organization one of the greats? Succession planning entails identifying those employees who have the right skills to meet the future challenges facing your organization. Successful succession planning includes four phases Identification, Collection, Discussion, and Implementation:
— Identify Critical Skills for Success:
What skills, experience, level of education and characteristics will your organization need for the future? Identifying critical skills allows your employees to focus their career plans and development efforts in the right direction.
— Collect Performance and Potential Information:
Do you have a system in place to collect key information from employees and their managers? Employees should provide an internal resume with career plans and a self assessment of their performance and managers should supply their assessment of their employees’ performance and potential for promotion.
— Succession Planning Discussion:
Who in your organization is ready now to replace key positions and who needs further development? These questions are answered in the this phase along with a summary discussion of performance, potential and career development plans for current and future back up candidates.
— Implement Career Development Plans:
In this phase your career plans should be formalized and implemented. Career planning is more than sending employees to a training class. Plans can include projects, temporary assignments, mentoring, lateral moves, continuing college credits and a variety of training methods including self study.
Organizations succeed by having the right people in the right places at the right times. The implementation of a Succession Planning Process will help to ensure that your organization is prepared for future success.