Most organizations lack an owner transition or succession plan. They might recognize the need, but they lack a comprehensive program to ensure that the right people with the right skills are available to step into high-level positions as current executives retire.
Strong leadership is critical to sustain and grow an organization, especially in times of change such as the business climate we are facing today and in the future. The following six steps are crucial to developing and implementing a succession planning and leadership development program:
Select the right candidates
Senior management must select the succession plan candidates, which is wrought with potential troubles. Those who are not selected may become dissatisfied and unmotivated. Selections can be seen as political and unfair. Another problem could be that those who are selected begin to see the process as a competition.
There are winners and losers. People who see themselves as losers may become disillusioned with the organization.
Senior management can avoid some of these potential problems by establishing clear selection criteria, practicing open and honest communication, eliminating the idea of winners and losers, and promoting the idea that everyone benefits from personal growth.
Determine the required competencies
The competencies for a senior level position can be heavily influenced by the strategic direction and the preferred culture of the organization.
There are instruments to help senior management diagnose the current culture, determine the preferred culture and develop action plans to lead the change efforts. These change efforts, coupled with the organizations strategic initiatives, can help senior management determine the competencies required of its future leaders.
Discover each candidate’s competencies
Through intensive discussions and the use of assessment tools, senior management can help each candidate discover his/her personal strengths and weaknesses. By understanding concepts such as thinking style, behavioral traits, occupational interest and communication preferences, each candidate will gain insight into their individual competencies.
It is critical that the candidate buys into the process. The best candidate will not get defensive, but welcome the opportunity to learn more about themselves and the opportunity for growth.
Develop a personal development plan for each candidate
Compare each individuals’ competencies to the competencies required for the organization’s future leaders. In gathering this data, identify gaps, establish goals, and design a detailed personal development to help the candidate understand his/her potential areas for improvement and growth.
It is also critical that each candidate fully participates in the development and execution of his or her personal development plan. If he or she doesn’t have 100 percent commitment to the program and a willingness to change and grow, they should not be in the program.
Implement a leadership development program
The actual leadership development program will vary with the organization and with the development needs of the individuals in the program. The program usually lasts 8-to-12 months and includes activities and training.
Activities typically are team assignments that focus on organization-wide projects, research on best-in-class industry procedures, presentation to senior management, participation in the organization’s strategic planning process and the use of an executive coach.
Training subjects typically include finance, leadership, management, team building, strategic thinking, recruiting, emotional intelligence and employee engagement. Of course, the specific activities and training must be practical and address each candidate’s competency gap.
Manage the implementation
Senior management must be involved throughout the process. Leaders should establish accountability by assigning specific goals, which are tracked and reviewed. As a result, support and encouragement are offered and progress is celebrated.
The Results
An organized succession plan and leadership development program requires an investment of time and money. But it is a worthwhile investment of energy and resources. Candidate growth and successes will make the selection process more transparent and offer confidence for the organization? future. And candidates who successfully complete the program will be better equipped for leading.
Successful implementation can be crucial to the continued success of the organization.
Jim Cross is the founder and managing partner of the CrossGroup. He has been involved in training and business administration for 25 years. The CrossGroup serves clients using customized training solutions and management consultations, including employee hiring systems. Contact him at jim.cross@crossgroupinc.com
Originally published by the Fort Worth Business Press
