How can Resolutions Assist You with Succession Planning?
Succession planning is a process that ensures key leadership roles in an organization will be filled by the best possible candidates. This allows an organization or a specific business unit within an organization to continue to operate successfully when current leaders depart, even if that departure is unexpected.
Most organizations lack a properly developed succession plan capable of achieving full performance standards at the expected enterprise levels. Typically they bring in an outsider who does not know the company well or promote an insider who isn’t ready to take on the higher level position. They may appear to be qualified based on their previous accomplishments at current and former levels. But if they have not been properly assessed to match the organizational expectations at the higher levels, they may not be able to deliver exceptional performance. The bottom line is: Potential does not always equal performance unless it is analyzed, understood and applied to leadership benchmarks.
Leadership benchmarks are a vital piece to succession planning. They identify very specific components of each role from both a technical and nontechnical standpoint. An acceptable measurable range of success is identified for each component. Potential candidates for these positions are then assessed to determine the level of readiness for that position. Usually, organizations do not have a standard of benchmarks or they have benchmarks that overlook critical elements needed to be successful for a position. As a result, the leadership pipeline becomes clogged with the wrong individuals and by the time it is recognized (if at all), it is often a problem that is time consuming and expensive to resolve.
Success plans are strategic in their objectives, resources and processes. They need to be re-assessed yearly to match industry standards and organizational projections. Proper succession planning gives organizations a specific roadmap for identifying and developing high potentials. Additionally, they create significant perimeters for recruiting from the outside. As a result, the transition of leadership will flow as quickly and seamlessly as possible.
Resolutions will partner with your leadership team to identify critical organizational do’s and don’ts to best prepare for leadership turnover and organizational success in today’s rapidly changing economy. This includes the following objectives:
Contact us TODAY to explore how Resolutions can assist your organization in planning today for a successful tomorrow.