Sucession Planning
photo credit: adactio
Many business leaders are very worried about the stability of their company, about their ability to replace the loss of key leaders during this recession, and their worry is definitely with good reason. Many companies are not doing as well as they have in past downturns.
Marshall Goldsmith recently suggested that rather than calling it a succession plan you should think of it as and call it a succession development. This totally changes the perspective that people have right off the bat about the changes that are being set into motion, brings more optimism to the table.
Measure your companies outcomes instead of its process. This will help guide your company in it’s future efforts and some of the corrections processes as well. Remember to stay as realistic as you can in your efforts and goals that you set for your company. There is no point in spending time, energy and money planning all these goals if they are not even possible to reach.
Keep it simple. We sometimes find companies adding excessively complex assessment criteria to the succession planning process in an effort to improve the quality of the assessment. Some of these criteria are challenging even for behavioral scientists to assess, much less the average line manager. Since the planning process is only a precursor to focus the development, it doesn’t need to be perfect.
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