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.