Succession Planning

by Martin Haworth

The benefits of succession planning

Who are the winners? Who benefits from succession planning? This is one of those brilliant occasions where the answer is – everyone!

You see your business gets great people, who are fine-tuned to be capable and experienced all the time. At the same time, your people are much more engaged and motivated by the extra focus on them and their ongoing development, in easy-to-achieve experiences.

Your organisation is fuelled by incredibly capable people, who are delivering a higher standard of results, more of the time. This will mark you out as a manager who gets results and put you in line for promotion.

Speaking of promotion, another key benefit for you as a manager is that you are seen as someone who can be promoted. If you make yourself indispensable to your role and team, it might be difficult for an organisation to promote you out of that role. However, if you have team members ready to step up into your shoes, you can be promoted without casuing operational problems.

Costs

One of the beauties of succession planning is that it costs nothing, or virtually nothing, while delivering such great benefits. It might be necessary for you and some of your key people to invest a little time at the start. After that, all you are doing is using what you have in a more focused and organised way, ensuring that those you have are consistently working towards the bigger plan.

In fact, the whole process has the real potential to ensure that the quality outputs by which you are measured never dip, thus ensuring higher bottom line measurements by which you, your people and your organisation are judged.

No delays

Succession planning is not something that’s difficult to initiate or that takes a great deal of time to implement. In fact, you may already be engaged in some succession planning activities already, though perhaps in an unstructured and disorganised way.

By pulling together some of your activities in a planned way (succession planning), you can create a better and more effective way of using many of the people skills you already possess.