Succession planning is an important part of any organization’s long-term strategy. It involves identifying and developing internal talent to fill key roles in the future and can help ensure the organization will have the right people in place to continue its success. However, there are some common mistakes that can be made when it comes to succession planning. Below is a step-by-step process that will implode your company's succession plan:
Don’t think long-term: When it comes to succession planning, it’s important to look beyond the short-term and consider the future of your organization. Focusing only on the immediate needs of your organization can lead to a narrow view of your succession planning efforts.
Never take a vacation: If you want to make sure that no one is qualified to take over your job, never take a vacation. This will mean that you're always available to answer questions, make decisions, and generally keep the company running. It will also make it impossible for anyone else to learn how to do your job.
Create a toxic work environment: A toxic work environment is a surefire way to derail any succession plan. This means creating an environment where employees are constantly stressed, overworked, and underpaid. This will make it very difficult to attract and retain top talent, and it will make it very difficult to find anyone who is willing to take on a leadership role.
Involve outside experts: While it may seem like a good idea to consult with outside experts on how to best plan for the future of your organization, it could lead to too many outside opinions and dilute your focus. It’s important to trust the expertise of the people within your organization who are familiar with its operations and goals.
Don’t plan for diversity: Diversity of thought and experience is important when it comes to succession planning. Make sure you are considering a wide range of perspectives when making decisions about who should fill key roles in the future.
Don't have a backup plan: Even the best-laid plans can go awry. That's why it's important to have a backup plan in place. If your first choice falls through, you need to have someone else ready to step in.
Neglect to measure success: Once you have implemented your succession plan, it’s important to measure the results. Pay attention to key metrics such as turnover, productivity, and employee engagement, to understand how the plan is working.
Forget to review and update: Succession planning isn’t a one-time event. It’s important to regularly review and update your plan as the organization’s needs change.
If you follow these tips, you'll be well on your way to imploding your company's succession plan. And who knows, you might even get a promotion out of it!
Just kidding! (Or am I?)
Recap: Don't use the steps above when working on your company's succession plan. In all seriousness, succession planning is important for any company. If you're tasked with developing a succession plan, I encourage you to take it seriously and to do your best to create a plan that will work for your company. If you're not sure how to create a succession plan, there are plenty of resources available online and in libraries. And if you're not sure how to train your employees, there are plenty of workshops and seminars available.