Business

Succession strategies – Putting the “Success” in Succession

Business abhors a vacuum. I tossed and turned many a night worrying whether we could fill fresh and soon-to-be-created vacancies. It’s a tricky balancing act, but focusing on your employees’ current performance and future potential turns your staff into a major-league team while also producing a resource-rich farm club. You’ll sleep better when you’re confident about facing the next surprise departure or summoning the courage to act when an employee’s poor performance forces your hand.

Here are ten succession strategies:

  1. Don’t Procrastinate. Begin today planning developmental experiences for tomorrow’s leaders. People need a chance to test their wings before you push them out of the nest. Focusing solely on the here and now carries a high cost—frequent turnover, operational interruptions, and squandered human capital. To paraphrase Professor Harold Hill from Broadway’s The Music Man, “Planning Purely for the Present” starts with P, which rhymes with T, and that stands for “Trouble.”
  2. Develop a Deep Bench. Routinely prepping people to take on more responsibility minimizes the chaos created by a surprise resignation. “I never knew when I was going to need a new store manager,” said regional manager Brad Burley, “so I always had two or three candidates lined up. It was great for morale because people knew there was a plan to help them advance.” Employees can sense when their departure will hurt you, and sometimes they subtly ex[1]ploit it
  3. Ask, Don’t Assume. It’s easy to think, Jake’s a sales guy; I can’t see him as a customer service rep. Well, maybe Jake can. Don’t wait for an annual review to discuss career goals. It’s a natural thing to chat about in the parking lot. Ask about employees’ interests and where they see themselves two years and five years down the road.
  4. Cross-Train. Challenge people to learn new skills, especially in unfamiliar areas of the company. Start by asking them to back up colleagues during vacations, illnesses, and so-busy-I-can’t-think periods. If they resist, nudge them out of their comfort zone and encourage them to stretch. You won’t produce any butterflies if you allow people to stay tucked in the seductive safety of their cubicle cocoons.
  5. Prevent Paranoia. It’s a safe bet people will feel threatened if they’re asked to train somebody else to do their job. Assure them their job isn’t at risk. Explain that it’s critical for the company to build in redundancy in order to run seamlessly when people get ill or if, God forbid, the proverbial bus takes somebody out. Toss in this fringe benefit: Their desk won’t be piled high with projects when they return from vacation.
  6. Collect Names. Keep a short list of all-star outsiders in case a high-level position opens up that no staffer is qualified for (or interested in). When I ran across, say, an impressive CFO, I jotted down his contact info. Ditto for quality referrals and great candidates we didn’t hire.

Last thought

Development programs put the “success” in succession. Strike a balance between improving candidates’ productivity in their current job and grooming them for their next move.

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