Succession planning ensures organizations have talent ready to step into critical roles when incumbents leave. Rather than scrambling to fill vacancies, proactive succession creates a pipeline of prepared candidates for key positions.
Key Steps
Succession planning involves identifying critical positions, assessing current incumbents and their likely tenure, identifying potential successors, assessing successor readiness, creating development plans to close gaps, and regularly reviewing and updating plans.
Successor Development
Identifying successors is only the start. Development prepares them for future roles through stretch assignments, mentoring, targeted training, exposure to senior leaders, and sometimes rotational experiences. Development takes time, making early identification important.
Beyond Top Roles
While succession planning often focuses on executive positions, critical roles exist at all levels. Technical experts, key individual contributors, and essential operational roles may also warrant succession attention. Criticality rather than seniority should drive planning scope.