Succession Planning – Let’s Begin
January 19th, 2011
Succession planning is an insurance policy assuring the uninterrupted workflow of the organization and protecting everyone in the organization.
Introduction
This is the first in a series about succession planning. While the series is applicable to a family business, there will one installment at the end of the series that specifically deals with family businesses.
Succession Planning – Not just for the Boss!!
I just spoke with a fast moving executive who said he is planning his succession because he already has his eye on his next position and doesn’t want to be held back because there is no one to take his place. He is the exception. When people think of succession planning, generally they associate it with the CEO or president of the organization.
There are at least two important reasons for succession planning: First, prevent interruption in workflow and, second, increase job clarity and thus job performance.
If there is to be a seamless flow in the organization, everyone needs to think about succession planning:
What would be the impact if:
- You get promoted?
- Are out on leave?
- Take a job in another organization?
Would someone be able to step in and complete your mission-critical work?
Every interruption in job flow costs the organization and the people in it. Succession planning avoids that cost and strengthens the clarity of the job expectations at the same time.
If succession planning is done methodically and consistently, it becomes less onerous. Here are four steps:
- Create the Job Book
- Create a Job Template
- Assess current Talent and do a Comparison and Gap Analysis
- Create a Development Plan
Each of these steps will be outlined in future installments.
Next
We’ll start the job book. Be thinking about what job you want to work on: yours? Someone else’s? A new job? You will need a 1.5 to 2 inch binder with at least eight sections (tabs). You can create a job book for your job or any other in the organization.
Entry Filed under: Succession Planning
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