Blog Posts

Implementing the Succession Plan

By Dr. Scott.

As we highlighted in our last blog entry, most organizations have a succession plan, but unfortunately, many leadership teams do not have the capacity or the focus to effectively implement a successful succession plan.  They have a plan, but lack the follow through. 

Poor succession plan implementation leads to dissatisfied employees, higher turnover rates, and, ultimately a decline in operational performance.  In the long run, this negatively impacts the organization’s leadership pipeline and sets the organization on a path of decline and, inevitably, an early departure from the competitive landscape.  

In this week’s blog, then, we look at some foundational best practices for improving succession plan implementation.  Specifically, we look at individualized development plans (IDPs), strategies for facilitating knowledge and skills transfer, and techniques for building deep teams of potential successors. 

Individualized Development Plans (IDPs)

In our last entry, Leadership Potential, we examined strategies for identifying leadership potential and identifying successors.  Once we have assessed our talent pool and identified potential candidates to assume future vacancies, we then need to incorporate training programs into our succession plan. 

One of the most effective tools for tracking future leaders in the leadership pipeline is to develop individual development plans (IDPs) for each team member identified for future roles.  To successfully create IDPs, leaders should first assess candidates and create a successor profile that highlights their strengths and weaknesses.  From these detailed assessments, we can then create IDPs to build on an individual’s strengths and overcome weaknesses or setbacks.

IDPs should include measurable metrics of achievement and be incorporated into performance reviews and assessments.  By making each individual’s succession training a key component of operational performance reviews, today’s leaders can ensure higher levels of leadership and operational proficiency in their leaders of tomorrow.

Facilitate Knowledge Transfer

Have you ever had to tell a customer or client that a process is going to have to be delayed because one or more individuals were on vacation that week?  Have you ever realized too late that you or your team members lack operational skills that can move projects forward if a single team member is sick or unavailable?  Typically, this all boils down to a lack of knowledge and skills transfer on your team.  However, daily operational delays are only a microcosm of the knowledge and skills transfer needed to effectively prepare future leaders for vacant roles. 

It is therefore extremely important to facilitate knowledge transfer opportunities through trainings, mentorships, shadowing, and role sharing.  Acknowledging team member skills and knowledge and finding ways to share that knowledge with other team members helps develop a culture of knowledge transfer and makes sharing skills and knowledge meaningful.  Beyond trainings and mentoring, some best practices include awards and recognitions, documenting knowledge in shareable and collaborative formats, and creating templates and guidelines for future use.

Build for Depth

Rather than selecting only one successor for each role, one best practice is to build your team with depth in mind and to prepare multiple people for future roles.  In sports, a common trait among championship teams is depth at multiple positions and the ability of reserve players to fill in and perform at or near the same level as the starting players.  Teams with depth have built-in systems of mentoring and coaching.  Teams with depth have reserve players who have bought into the system and are working to get on the playing field, but who also know their contributions during training and practice is critical for overall team success and in preparing starters for the next big game or match.  In other words, it is the process of building for depth and preparing reserve players for starting roles that makes good teams great.

In the business world, succession planning should focus on preparing multiple people for the same future role.  Or, thought of another way, we should prepare individuals for multiple future roles.  If you are only preparing one successor for a future role, the chances of that person performing well in that role diminishes.  They may move on, they may be selected for another role, or they may even decline the position out right!

Depth also should entail back and forth communications regarding succession plans.  Current leaders should understand who is being trained to assume their positions and, likewise, selected individuals should know the future roles for which they are being trained.  Like championship teams, these communications and discussions will lead to “buy-in” and more successful training and development activities.

Final Thoughts

In this blog, we’ve highlighted some foundational best practices for implementing succession plans.  While most organizations have documented succession plans, implementing the succession plan and truly preparing future leaders for future roles is often one of the weakest links in most business and certainly in many small to medium enterprises (SMEs).  We therefore explored three cost effective and simple strategies for implementing succession plans more effectively.  Through individual development plans (IDPs) that align with performance goals and expectations, leaders can better identify potential talent, analyze strengths and weaknesses, and coordinate training programs that prepare team members for succession.   More broadly, implementing an effective succession plan entails building a culture of knowledge transfer and building your team with depth in mind.  With a supporting culture and a team with multiple options for succession, SMEs can bridge the gap between succession planning and succession plan implementation.

Thank you for reading the Madison School of Professional Development Wednesday Leadership Blog where we highlight leadership best practices each week.  Check out more from this blog and other blogs hosted by MEG here.

If you have a topic that you would like to see me pontificate on, drop me an email at info@meg-spd.com.

Dr. Scott Eidson is the Executive Vice President of the Madison School of Professional Development and holds doctoral degrees in both history and business.  When not thinking about leadership, he’s usually thinking about surfing or old Volkswagens.