Succession Planning

Succession planning is a critical element in talent management and, as such, a core strategic HR initiative. But succession planning need not be exclusively top down. It is important to avoid the trap of promoting clones of existing top management. Keep in mind the popular saying: "Nothing fails like success," which means that tomorrow's success might need quite different skill sets than you have in place today.

Succession Planning Steps

• Determine the strategic needs of the business first and foremost asking rigorously what the business will need in the way of talent 5 years hence.
• Assess candidates objectively - see page on Management Assessment.
• Use 360 degree feedback to collect anonymous data from diverse stakeholders.
• Prepare candidates for advancement.
• Prospective senior level successors need to acquire transition management skills as well as the skills for the target job itself - See pages on handling transitions.
• This means providing ongoing integration support - transition coaching.
• Too many newly appointed executives are left to sink or swim.
• Poor integration is explained by blaming the selection process.
• Review integration progress over first year following appointment.
• On the need for better integration of outsiders, see: Top job, new company.