While a primary purpose for any succession plan is increased bench strength, and a luxury of highly qualified internal candidates to step into executive vacancies, you also want your organization to succeed into the future. That means people growing in place and becoming more influential as they do so. While there will always be those people who are motivated by pay and title, there are many more who are motivated by the satisfaction they experience in their job from day to day. It is possible for individuals to make greater contributions without having to be placed in a different role. Focus on contribution rather than title.
To clearly communicate the purpose of your succession strategy, frame the actual activity rather than an end game, which could change over time. The activities of succession planning—talent identification, management, development, evaluation, and retention—all speak to an investment in organizational leadership. I’ve seen several organizations simply call their programs “leadership development.” Investing in targeted leadership development work, both individually and organizationally, shows your key employees that you value their contribution, their potential, and that you are interested in retaining them for broader responsibility into the organization’s future.
Succession planning is more important now than ever. But the stakes are much higher than individual advancement. What is at risk is organizational sustainability. A secession of talent threatens that sustainability. By investing in your current leaders to succeed today, you ensure that your organization will succeed into the future.
To clearly communicate the purpose of your succession strategy, frame the actual activity rather than an end game, which could change over time. The activities of succession planning—talent identification, management, development, evaluation, and retention—all speak to an investment in organizational leadership. I’ve seen several organizations simply call their programs “leadership development.” Investing in targeted leadership development work, both individually and organizationally, shows your key employees that you value their contribution, their potential, and that you are interested in retaining them for broader responsibility into the organization’s future.
Succession planning is more important now than ever. But the stakes are much higher than individual advancement. What is at risk is organizational sustainability. A secession of talent threatens that sustainability. By investing in your current leaders to succeed today, you ensure that your organization will succeed into the future.