Experiencing organizational change is an inescapable reality when running a business. Employees may be promoted, or they may retire. They may no longer represent a good fit for the stated goals and mission or may have found a better fit for their career trajectory at another company. No matter the reason for their departure, the organization needs to have a succession plan in place to avoid being left with holes in their company. Sometimes, succession planning seeks replacements that will continue with the company’s status quo, while others may prefer to “shake things up” by bringing in visionaries with new ideas.
Most articles regarding best practices for succession planning address those at the executive level – however, we contend that succession planning is vital at all levels of the organization. After all, tribal and tacit knowledge – and best practices – are essential to retain and protect, no matter the job description.
The Mechanics of Succession Planning
Succession planning is not a one-time project; it is a company-wide effort spanning months or even years. The planning must include identifying the essential skills, knowledge, relationships, and operational practices and documenting them to pass the corporate ideals onto future employees, managers, and executives. When a plan is developed and instituted, talent and experience can move more effortlessly around the organization, and the company’s vision and goals continue even if an integral employee leaves.
Documenting the critical knowledge and best practices at all levels will help businesses in many ways, including ensuring that employees can quickly learn to perform the required tasks in their new roles; and effectively prepare for future responsibilities. This forward-looking approach identifies potential future leaders and team members based on their skills, knowledge, and abilities and provides a plan of action should a vacancy occur.
Steps to Effective Succession Planning
Involve Stakeholders: Many company leaders assume that human resources are the correct department to develop succession plans, but business leaders (c-suite, line of business executives, departmental leaders) and key employees need to be involved. Engaging stakeholders is critical to understand the skills, talents, and experience required at each level of the organization. These key incumbent personnel should be polled through surveys, interviews,
or focus groups to achieve buy-in and fully understand the real-life attributes necessary to fill each role from within.
Look to the Future: Companies need to address the potential of a rapid replacement due to an unforeseen circumstance – the proverbial “if he gets hit by a bus” scenario. However, planning for one, three, five, or ten years into the future is equally important. Some eventual situations can be scheduled – such as retirement plans – while others are assumptions made from employment and industry trends, such as turnover, employee engagement, and employee satisfaction statistics and trends. Companies can also plan for the future by providing management training and career development assistance to employees identified by incumbent leaders as potential successors to key positions. This way, they are ready when the time comes and do not have to be rapidly brought up to speed.
Recognize Engaged Leaders and Team Players: Managers often balk at giving up their best team members for a promotion, but those who do should be recognized and incentivized. When the development of team members is linked to organizational succession planning, it ensures the entire business is pulling together toward the same mission and goals.
Embrace Technology: There have been innovative technology solutions making their way to the market, including Human Resources Information Systems (HRIS) with succession planning plugins, learning management, and other platforms supporting effective succession planning and individual development for promotions or new hires. Additionally, online knowledge portals aggregate tribal and tacit knowledge, SOPs, and best practices documentation into a single, searchable platform – giving management the tools to quickly, clearly, and promptly communicate critical position-related information. Just as importantly, these tools are fluid and flexible, allowing for updates and the evolution of a business’ talent requirements.
Encourage Feedback: Preparing employees to move up and fill positions within the organization – no matter the level – requires regular feedback between management, supervisors, and employees. Consistent interaction should include progress assessments against goals and competencies and clear and direct feedback (especially if the employee needs to meet the necessary metrics for succession.) Succession planning should be an overt project to build transparency and trust and to encourage high-potential employees to stay with the organization and continue investing their talent in the future.
The KLONE Organizer is a powerful resource for business leaders to manage their succession planning and develop their talent pool. By providing online, keystroke access to the company’s most successful strategies and learning tools, they invest in their employees without overwhelming their managers’ and supervisors’ schedules.
Call us today to learn more about how KLONE can transform your business’ training, development, and su