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Succession Planning is a talent management strategy that all big companies aiming to transcend should have. This systematic process consists in identifying and developing potential leaders from your business as successors for key role positions. In this scenario, open communication with your team throughout the entire process is of utmost importance for the support and validation on the leadership changes.
Share your plans with the team. A quick presentation of your Talent Management area and its key tasks on the succession planning process will reinforce transparency in the workplace and motivate employees to build a career path on your company. It is also important for the potential candidates to be aware of the goals set and how their performance will be measured.
Use this matrix as a visual tool to identify clearly the position of your company in terms of culture, core values and general approach to what you look for in your future leaders. The dimensions titled "process-centric" or "people-centric" and "subjective" or "objective" intersect to form four quadrants.
The Succession Planning Template offers two colorful five stage timelines and a vertical five-steps diagram to describe the status of each phase: identify, document, assess, transition and develop. Multiple arrows and business icons are added as support to illustrate the process in an engaging way.
Engage your leaders
Involve current leaders on the training and development process of high-potential candidates. A mentoring session would also be a good opportunity to see how they work together.
Strategic Planning
Prepare your business for future contingencies and make sure that key positions will be filled in a short period of time by top professionals trained inhouse.
Make an official announcement
Time to celebrate! Gather the entire company, from top executives to trainees, for a special meeting to introduce the chosen successor.
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