We’ve probably all experienced the stress of a key leader or team member leaving their position, whether it’s a sudden departure or an impending retirement. It can cause uncertainty within an organization and can really rock the boat. Team members have questions about the future and how changes will affect them and their jobs. And there’s the added challenge of finding the right person to fill a vacant position with the required skills and expertise. What if there was a way to make this type of situation easier to handle? It’s called succession planning and it’s a vital, yet often overlooked, tool in helping your organization run smoothly.

What is succession planning? It’s the process of identifying critical positions within your organization and developing an action plan for team members to be ready to fill those positions should they become available. Think of it as an insurance plan that you have the right people in the right jobs when you need them. However, it’s not a one and done kind of task. An effective succession plan should be reevaluated and updated each year or when changes dictate.

There are so many benefits to succession planning, yet many organizations don’t take the time and care required to build an effective plan. However, putting in the effort reaps so many rewards, including the following:

• Helps your organization plan for the future: Change can happen fast and so many organizations are caught off guard when a key team member leaves. With succession planning, leaders continually think about how certain events can affect their department as a whole and it makes them more resilient in the face of unexpected events.
• Assists with knowledge transfer: When a long-time employee retires or leaves for another position, they take their knowledge with them. Succession planning helps to stop this drain on organizations by having future candidates who are ready to take the reins. It opens up the opportunity for mentoring, coaching and education on what it takes to be successful in a future role.
• Promotes training and development: Once your company has identified team members that are interested in moving into senior positions, you can identify any competency gaps and begin preparing them for their eventual roles. This may come in the form of coaching, mentoring, job shadowing or a gradual increase in more advanced responsibilities. Some positions may require certifications or continuing education.
• Helps with long-term talent planning and employee retention: Succession planning improves retention of your top employees by offering them clear opportunities for growth. By planning longer-term, organizations can reduce their reliance on external recruitment and have a pool of experienced employees in-house.

Changes in your team are inevitable. You may not always be able to predict an employee’s departure, but with effective succession planning, you can help achieve continuity and lessen the impact on your organization. Does your department have a succession plan in place? If so, when’s the last time it was updated? Leah M Joppy and Associates can work with your organization to develop an effective succession plan or review your current plan and make suggestions for improvements. We get to know your department and unique needs and walk you through every step of the process (you’ll see a few examples in our next article).

Succession plans are easy to let fall through the cracks, but don’t be caught off-guard if you lose a key member of your team. Contact us at 301-670-0051 or email us at leah@lmja.com to learn more.

An aging workforce, shrinking talent pool and intensified competition for the right team members put so many organizations under increasing pressure. The benefits of succession planning have never been more apparent, yet few organizations have a plan at all, even for senior leadership positions. With the right plan in place, you can rest a little easier knowing that you’re prepared for inevitable personnel changes and won’t be caught off guard.

How can your organization get started with succession planning? Here are a few tips for kickstarting an effective plan:

• Identify potential roles to plan for: The first step is to identify the critical positions within your organization. Sometimes these positions are leadership roles or they’re mid-level. You should identify roles where the operation, strategy and decision-making of your organization would be dramatically affected if they were to be suddenly empty.
• Define succession criteria: Criteria includes the skillset, experience and training required for potential successors. Does the role need someone with specific technical expertise? Perhaps you need successors with strong leadership skills or the ability and willingness to develop those skills? These criteria act as your benchmark for evaluating the readiness of candidates to fill your roles.
• Pinpoint succession candidates: Think about which team members could potentially step into the identified positions. Ask yourself: If we were to hire for a position internally, who could possibly step into the role? You want to carefully evaluate employees’ performance, potential and readiness to take on higher-level responsibilities.
• Step up professional development efforts: Now that you’ve identified your talent pool, it’s time to focus on the training to get them to where they need to be. This typically involves creating a personalized development plan for potential successors to enhance their skills and knowledge required for future leadership roles.
• Develop a knowledge transfer process: This opens up opportunities for mentoring and coaching for successors and ensures that specialized knowledge and skills don’t leave when a team member walks out the door. Experienced leaders can guide and support successors in their professional growth, while sharing their knowledge and experiences.
• Review and monitor your plan: Regularly monitoring the progress of the succession plan is vital to its success. This typically involves tracking the development and performance of potential successors, evaluating their readiness for advancement and then making any adjustments to the plan.
• Continually update your plan over time: As we mentioned before, succession planning is not a one and done process. It requires review at least yearly to analyze any areas that need adjustment.

Most of all, it’s vital to be proactive with a plan! Sometimes, you’ll know well in advance if a hard-to-replace team member is going to leave. But other times, you’ll be caught off-guard by a sudden employee departure. That’s why you need a plan now. Leah M Joppy and Associates can help you every step of the way with your succession planning. Drafting a succession plan can feel like a daunting task, but with the right coach working with you through the process, it doesn’t have to be. And the result means you won’t have to deal with the upheaval that can come with personnel changes.

Ready to learn more? Call us at 301-670-0051 or email us at leah@lmja.com.