KEY POINTS:
What is succession planning?
Succession planning is when you're well prepared for people leaving your business. The gist of it is you need to keep critically evaluating your business requirements and current people resources. That'll help you to easily spot the gaps, or potential gaps, which means you can then plan to fill them. Basically, you're always asking if this person was to move, what would I do? Succession planning also gives you the perfect opportunity to spot key talent in your business.
How can I offer someone from outside the company a job when it won't become available for another six months or a year?
The best trick is to have no tricks. Yes, you must talk to relevant people outside the business. Talk to them openly about where your business is at. But be careful to set correct expectations and not to make promises things can change dramatically in six months or a year. Either the opportunity evaporates, and/or that person may no longer be the only potential applicant for the open role. Never offer someone a role before it's a proper vacancy.
Does succession planning mean looking outside or preparing people internally for jobs coming up?
Ideally, you focus first on the people who work for you. It's definitely smart business to look at people who are already performing and have a proven track record. Of course, if the person you need isn't already working for you, you'll have to look outside.
How am I supposed to know what happens in the future? Who might die, get sick, leave for another job, have a baby and so on?
There are no two ways around it - you need a plan B for each role in the company. Being prepared cuts down on the crisis management and allows managers to plan strategically.
Is it wasting my time preparing for eventualities that may not even happen?
Using your management team to really know what is happening with your employees, teams and company is an investment. Knowing your business and the people in it is never a waste of time.
Does it mean training up lots of people for jobs they may not ever get to do?
There has to be logic behind all training. It's no use training an employee to take over a sales role if they're just not a salesperson. But tailored training for the right person for the right reasons makes perfect sense. Again, it's about knowing your requirements and understanding the potential of each staff member. Get to know your staff. Understand their career history and what other skills and experience they might be able to contribute to your business.
What are some common mistakes around succession planning?
Poor communication. Communicating to the business that career opportunities are available is great for motivating staff. Advertising roles internally gives current employees the chance to apply and you might be surprised who applies. It's also important for morale and confidence in the business to know there is a plan in place to fill a vacancy. Promoting before someone is ready is common. They quickly find themselves out of their depth. Assuming that the person you have considered for a role actually wants that role. They might have the skills you're looking for but do they want to do the job? Make sure you're in sync on this one.
