Posted by December 27, 2021.on
Succession planning is an integral part of the talent management process. It provides a way to identify key roles, people with the right skills and high potential and key positions that may need filling in a short space of time. Many of the executives we speak with express concern about their company’s lack of bench strength. They are very worried that they lack sufficient “ready now” candidates to replace planned and unplanned losses of key leadership roles. As a result, the future continuity and performance of the business is at risk.
Here are 3 practical ideas on how you can get more impact from your organization’s succession planning efforts:
Change the name of the process from succession planning to succession development
Plans do not develop anyone. Only development EXPERIENCES develop people. We see many organizations put more effort and attention into the planning process than they do into the people development process. Examples of traits of high potential people are those that are comfortable with change, interested in learning new skills, accepting of uncertainty and adaptable to multiple work environments and leaders.
Measure outcomes, not process
The PXT Select Talent Management System provides a way to set measurable goals using data to assess a high potential individual’s cognitive abilities, key behavioral tendencies and key work interests. This data can be used to generate working reports about this person’s leadership style and how best to coach this person. The Profiles Leadership Report and Profiles Coaching Report can be utilized here. We use this data to create a plan that generates specifics for the 3 E’s:
- Experiences – giving successors opportunities to learn through intentionally provided day to day experiences
- Exposure – establishing opportunities to learn from others, both inside and outside the organization
- Education – developing successors’ expertise through formal instruction focused on building capabilities
Keep it simple
By focusing your succession development efforts more for the people vs. the process, your organization will achieve increased depth in your bench strength.