Succession Planning
The Issue
Challenges related to succession planning are often created by the need for stewardship of an organization as it continues to evolve. In complex, rapidly-changing organizations, it can be difficult to predict leadership and talent-based needs. Therefore, it is necessary to have a pipeline of future leaders within the organization by providing targeted development opportunities and career paths for potential succession candidates.
Our Point of View
- Succession planning is not “replacement planning,” rather it is a primary driver of ongoing stewardship for an organization.
- Succession planning should be a constant initiative with periodic, formal check-ins.
- There are multiple dimensions to development, with emphasis on building experiences and competencies necessary to step into broader roles.
- Employee performance and employee potential are often confused and should be assessed independently.
- Succession planning must be integrated with executive development and staffing.
- Succession planning is a key process for mitigating talent risk and should be owned by senior management.
Our Approach
The process we follow involves these key steps:
- Understand the business strategy of the organization and its staffing implications.
- Determine the core competencies, experiences and attributes required in key roles to execute the business strategy.
- Conduct an analysis of individual employee performance and potential.
- Map individuals to key roles based on appropriate competency matches.
- Create and execute organizational and individual development plans to include coaching/mentoring, job/taskforce assignments, formal training, and other necessary factors.
- Create retention plans for key people.
- Establish a process to conduct ongoing succession planning.
Typical Benefits
- Organic growth of employees within the organization.
- Improved talent-related risk management and the ability to maintain business continuity.
- Enhanced ability to attract high-performing talent.
- Increased retention of highly engaged and talented employees creating a pipeline of successors.
To learn more, contact us by phone at (312) 523-2123 or by email.