Succession management combines the key elements of replacement planning and high potential development. Anticipating changes in management rather than just filling empty assignments when they occur ensures the continuity of leadership. In this way, cultivating talent from within an organization is also enhanced.
Surveys indicate the primary reason for engaging in this practice is to provide increased opportunities for high potential employees.
Other reasons cited in the research are: identifying targeted training and development needs of future leaders; increasing the talent pool for promotable employees; contributing to the organization’s strategic plans; and improving employees’ ability to respond to changing demands.
Wingate Consulting works with clients to determine an approach which best addresses their needs.
Since success depends on the senior managers’ commitment and participation, the first step is to meet with them to determine the purpose, the outcomes, and their roles in the process.
Our second step is to sketch out the procedures to follow, identify the target employee groups, and set the program priorities.
Design & Implement Succession Plan for all Managers
- Communicate their most pressing business issues, including anticipated changes in the marketplace as well as new knowledge and skill requirements.
- Identify the critical management and high-impact positions.
- Include an assessment of current and future work requirements along with individual potential.
Two valuable outcomes are the clarification of the leadership bench strength and the identification of “hidden” talent – those people who are currently less visible but have potential for future advancement.
- Decide an approach to grow talent internally along with supplementing that talent with candidates outside the company.
- Create and implement realistic and personalized development plans for those individuals identified as being ready today and tomorrow to assume high-impact jobs and critical management roles.
The immediate boss is a critical lever for building talent successfully. They need to be hands-on and willing to provide specific feedback. They must also be able to coach and accurately evaluate a person’s ability.
The development plans will help close the gap between what competencies are needed now and later. Wingate Consulting helps managers write these plans and works with them to build their own coaching skills.
Wingate Consulting is available to help organizations throughout the succession management process – from start to finish.