A Better Approach to Succession Planning

Effective succession planning Succession Planning Basics: How It Works, Why It’s Important (investopedia.com) has evolved from its traditional focus on executive roles, and the decades old 9-box, to include non-executive and middle management positions, skills mapping and experiences. Succession Planning: What the Research Says (hbr.org) This strategic shift recognizes the importance of nurturing talent across all levels of the organization and identifying specific skill sets, to mitigate risks associated with talent and skill gaps and turnover in the leadership ranks. This extended focus ensures organizational and operational stability.

By investing in a creating a pipeline of talent across organizational levels, businesses not only safeguard against disruptions in key functions but also foster a culture of internal talent mobility, focused on growth, development and retention. This proactive approach creates and engaged workforce which will ultimately drive better productivity metrics, companywide innovation, and ultimately, greater employee satisfaction and lower turnover.

Identifying Key Talent at Every Level

Traditional succession planning often focuses only on executive roles. By broadening their focus, organizations can create a culture and a process that identifies high-potential employees throughout the organization and work to offer opportunities that accelerate their growth. There are a number of key players that can positively impact this process including executives, functional leads and subject matter experts. Each can play a pivotal role in organizational success and are integral to succession planning efforts.

A Focus on Skills and Experiences

By creating skills and experience inventories, Succession Planning: The Skill-Based Strategy (growthspace.com) much of the inconsistency is removed from the old process of rating employees against competencies and potential. No longer are employees at the mercy of a manager with impossibly high standards. This approach shifts the responsibility to the employee who self-rates and a number of SME’s across the organization to vet the ratings.

Practical Implementation Strategies:

1. Skills Analysis and Mapping- Consider the skills necessary to perform the essential function of the position. Ideally, a skills inventory will be created internally and categorized by function What Is Skills Mapping? (With Definition and Benefits) | Indeed.com
2. Employee Input- Employees will input their skills into their HCM profiles
3. Management and Stakeholder vetting- Leaders and other stakeholders will vet the employee’s skills, asking questions to ensure full mastery
4. Understand the importance of experiences- to the skills inventory should be a parallel set of experiences that are necessary for success in the role
5. Identification of critical roles: Conduct comprehensive analyses to identify critical roles across the organization. Understand which roles are needed for business continuity
6. Risk Analysis and Scenario Planning: Develop a skills gap analysis so you can anticipate potential disruptions through scenario planning, ensuring readiness to mitigate operational risks.

Investing in leadership development programs, mentoring initiatives, and personalized training opportunities empowers employees at all levels to enhance their skills, experiences and readiness for future leadership roles. By supporting career growth and recognizing employee contributions, organizations cultivate a culture of loyalty and continuous improvement, essential for long-term success and competitiveness.

Originally published at https://sherriesuski.com on August 19, 2024.

Read Sherrie Suski’s latest thoughts on employee development opportunities in this Forbes article!