Succession planning is a complex process that involves the big picture of your business years down the road, but key to that success is finding the right people to take over main management positions. Where possible, it’s a good plan to have successors across the board prepared for next steps.
Although the specifics will depend on each business, you should ensure that successors at each level are ready for promotion. Suggested numbers include preparing 80 percent of people for promotion, depending on who you think has the skillset to succeed in the higher role and how well that individual would work with other team members.
Finding committed people is critical, giving those individuals compelling reasons to buy into the future of the company. Take a look at their current job descriptions about accountability so that you can clearly and fairly evaluate these individuals. This helps set up the pathway for future achievement expectations and illumination of areas where those individuals are most likely to be highly competent.
From there, create individual development plans that include regular evaluation. The evaluation is a chance to check in again on commitment and allow for a relationship that builds back and forth, ultimately, increasing your support of that individual and his/her confidence in handling the job. Contact us at [email protected].