Succession planning is a means for an organisation to ensure its continued effective performance through leadership continuity.
For an organisation to plan for the replacement of key leaders, potential leaders must first be identified and prepared to take on those roles. Many times the candidate that seems “right” for the job is lacking key skills, competencies or personality traits necessary for effective leadership at the board level.
Succession planning requires significant assessment of the role, the current leadership team and the potential candidates. This assessment process is necessary to identify the best fit for the team. Additionally, this process allows for a customised development plan for the selected candidate.
Phase 1: Set Goals
Identify the skills, traits and experience required for board and/or executive level leadership.
Phase 2: Assessment
Assess both the candidates and current leadership to determine who would make a good addition to the team. Identify gap between what the high-potential members are able to do presently and what they must do in the leadership role.
Phase 3: Strategy
Develop a customised strategy for succession and continuity.
Phase 4: Implementation
Create a development plan for each high-potential member to prepare him or her for the leadership position.
Phase 5: Review
Review results, capture learning, adapt approach