Ready Now! Does Succession Planning Backfire?

I get variations of this question a lot: if you focus on leadership and career development for your team, doesn’t this backfire for you as a leader?

Won’t that just cause people to leave for better opportunities?

Well yes, indeed it might.

When you have the opportunity to work with excellent people, they do great things, and they get great opportunities.

Sometimes these opportunities are about startingnew ventures or joining new groups. Sometimes they are about a chance to give back to the community. And sometimes they areopportunities to advance their career.

I would be misleading you if I were to say this is easy. It’s not, it’s very hard. But, in life, the hard right things are often the ones that pay off in the end.

You see, for each person in your team that leaves for a great opportunity, there is an even larger group watching. They are watching to see how those opportunities might apply to them.

We all know that developing great teams is not a once-in-a-career opportunity. It is an opportunity available to each of us every day.

There is greatness all around us waiting to be discovered and waiting to be given the opportunity to flourish. So, while change is hard for everyone and opportunity can be bittersweet, rest assured that succession planning only backfires if you define your career in the very short term.

When you set the leadership development process in motion, you create the opportunity for talent to impact you in bigger ways .

So keep building your leadership pipeline and a rich professional network, and open yourself up to making talent mobility part of your brand.

It’s worth it, I promise.



This blog was originally posted on TalentedApps.

Succession Planning – Better Without the Ion?

Those of us who follow the Talent Management investment curves know that Performance Management and Succession Planning are hot trends right now. Companies are attempting to leverage their workforce as a competitive advantage and both of these areas had technology innovations in recent years. 

Of course, as is often the case with trends, there are companies that have a plan first and leverage technology to solve it, and there are companies who start with a solution and attempt to figure out the problem.

This leads to many wanting to call into question the whole idea. 

Personally, I think that the point of succession planning is really not for succession at all. Most often C-suite changes are made when a company needs to “fix” something. When this is the case, companies will most likely want to look outside the four walls for new ideas.

Succession planning is useful in the case of a long-known retirement. Of course, planned retirement-based successions are often exceptions, especially in North America. In an attempt to avoid having people throw out the baby with the bathwater, I would like to suggest that you still need succession planning for two key reasons.

  1. Emergencies 
    In the unfortunate situation that something unexpected were to happen, having a well-established succession plan can help avoid additional disruption in the short-term. An excellent example has been given of Brokaw stepping in to fill the shoes of Tim Russert during the election.

  2. Developing bench strength
    In my mind, here is where the real value can be had. If you look at your succession initiative as a broader discussion about bench strength and development alignment, you can get a lot bigger ROI for the exercise. Using a succession discussion to analyze several layers of your organization against readiness can help you build development plans, define workforce planning initiatives, and bring to light top talent within your organization. 

So for those who wonder what all the hype is in succession planning, I encourage you to take a longer view of the process than just the tactical (or the competitive) approach. Use this emerging trend to help you to provide more value to the strategic needs of the company. Don’t just plan for succession, plan for success.

 

This blog was originally posted on TalentedApps.