Choosing Tomorrow’s Leaders Today
Isn’t that the way to sum up succession planning? Putting off succession planning for your business, or deciding not to decide, is a recipe for disaster for all you have built. The people who will lead and drive your company tomorrow need to think on a more sophisticated level than ever before & their reach needs to be more global and more interactive.
Succession planning is more than deciding the on next CEO; it requires constantly aligning the company’s future needs with people’s aspirations at all levels of management. Although the beginning is a thorough assessment, producing a document isn’t the end game. Annual reviews are necessary and all of top management must be onboard.
How should you approach succession planning and tend to the ongoing assessments?
Identify key talent: The core goal and the right fit should never be lost. What are your criteria for the leaders of your company? What skill sets do they possess? Do they continue to grow and learn? Do they aspire to something higher?
Develop training/mentoring programs: What does your company currently offer? What training is needed to stretch people’s talents and imaginations? What goals can you assign to assess progress?
It is important to implement development and mentoring programs among managers and key personnel within the company. It is difficult to impossible to do this for your own position and directs. Utilize the services of a professional consulting firm to enhance success. A good succession plan should be developed alongside workplace development and training programs. Strong leaders are attracted to companies that seriously invest in their key employees, giving you a wider pool of potential candidates.
As the leader of your business, show your strength by developing strong tools and plans for the future of your company.