Succession Planning

Succession Planning Process


 
  Assess the Leadership Team/ Define Culture/Strategic Plan  
     
  Determine Key Strengths/ Select Competencies  
   
  Identify Candidates  
     
  Fortify Strengths/
Address Weaknesses
 
     
  Assign Responsibilities
That Ensure Growth
 
     
  Provide Feedback/
Teambuilding Exercises
 
     
Investing in the right people is becoming more and more a significant issue to ensure the continuity of your organization’s momentum, strategies and competitiveness. Many companies already are correctly bolstering their retention efforts despite the still weak job market. For those companies that are addressing this critical business issue, the challenge is strengthening and/or refining skill sets that pertain to both leadership and management responsibilities.

Succession planning refers to not just the identification but also the development of potential leadership level successors in an organization. A survey conducted in 2011 by Birkman International in association with Stanton Chase reports that 65% of the respondents had no succession plan implemented or even in place. And too often, those programs that are in place are executed too narrowly and merely validate individuals already “anointed” by the CEO or a Board. This often can be a risky endeavor. Successful organizations must have leaders that recognize organizations are dynamic entities that foresee changes in their landscape and adopt.

Our experience validates that there are critical factors to establishing an effective succession planning initiative. These factors tend to also be the core for those companies that have well-established practices as well.

These critical factors are:
  • A process to identify those with the potential to assume greater responsibility in the organization that includes an assessment tool and 360 survey
  • Individual coaching that expands individual strengths and addresses weaknesses/skill set gaps 
  • Assignment of responsibilities that provide critical development experiences to those designated to move into key roles
  • Commitment from the C Suite in supporting and being engaged in the development of high-potential leaders
Please recognize from the diagram on this page that our succession planning process is more of an evolution than just a selection procedure. This guarantees that we provide our clients a dynamic and effective program.

We recognize that a succession planning initiative is in fact both a sizable and long term investment. But a pipeline of future leaders can go a long way to ensure your company’s future competitiveness.