How often do you dedicate time to think about succession planning for your role? If you have experience executing such plans, do you have any learnings to share?
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Chief Strategy Officer9 months ago
During my tenure in the Navy, it was a dedicated process of planning the succession ladder. I carried forward the trait in my corporate role which allowed me to train and prepare my successor to take over the responsibilities with ease and comfort. It has always prepared the successor well and made sure that the interests of the organization and the team are served well at all times. CIO9 months ago
Succession planning has always been an integral part of the talent management process in my previous corporate roles. Recognizing the importance of preparing for the future, I indeed have dedicated regular time to thinking about succession planning for my role.One effective method I have utilized, in conjunction with HR, is the 9-box grid. This tool allows for the identification of employees based on their current performance and their potential for future growth. By assessing individuals in this manner, it becomes easier to identify high-potential employees who may be suitable candidates for succession planning.
Once a successor has been identified, it is crucial to provide them with unique care, grooming, and mentorship opportunities to help them develop the necessary skills and knowledge for their future role. This personalized attention ensures that they are adequately prepared to take on the responsibilities of the position when the time comes.
Through my experience executing succession plans, I have learned that communication and transparency are key. It is essential to involve all relevant stakeholders in the planning process and keep them informed about the progress and potential successors. This helps build trust and ensures a smooth transition when the time for succession arrives.
Chief Data Officer in Healthcare and Biotech9 months ago
We conduct succession planning at least once every year, for all leaders (managers, directors, VPs, etc.) and we also complete a 9-box grid around the same time. This is typically around mid-year and the conversations typically reflect into the mid-year review and the plans arising from it.
VP of Data9 months ago
I believe succession planning is a crucial aspect for any VP, and it's important to allocate time regularly for this process. I try to do the following a few times a year:· Regular Assessment: Dedicate time to assess potential successors and the current talent pipeline. This ensures continuous readiness for any unexpected changes. I assess this potential through regular check-ins with potential successors and their ability to produce on complex projects.
· Ongoing Talent Development: I try to incorporate leadership activities, including mentoring and training for high-potential employees. This allows me to assess their ability to lead during complex problems and challenging business relationships.
· Align with Organizational Goals: I try to identify potential leaders whose experiences align with the broader goals and strategies of the organization.
· Flexibility and Adaptability: Be adaptable and flexible, especially since you never know when voluntary turnover can wreck your plans.
· Inclusive and Diverse Succession Pool: I strive to create a diverse pool of candidates, reflecting different perspectives and backgrounds.
I recently left an organization and executing my succession plan by doing the following:
· Clear Communication: I communicated the succession plan with all stakeholders, including my senior leader and all potential successors and how I saw their new roles to manage expectations.
· Succession Plan: My succession plan involved the following:
o Identification of Key Positions: Clearly define which roles are crucial and thoughts around any reorganization to be successful.
o Criteria for Successor Qualifications: For each leaders’ new role, I outline the necessary skills, qualifications, and experiences required for success.
o Review of Current Projects and Performance: I provided a detailed presentation that showed a review of the current projects. These projects were group by the strategic initiatives of the organization.
o Retention Strategies: I incorporated strategies to retain high-potential employees, such as career development opportunities, recognition, and competitive compensation.
o Cultural Fit and Adaptation: I thought about the cultural fit of the successor and their adaptability to maintain the organization's values and culture during the transition.
I recently started a new role am currently creating a department from scratch. This is an important part of my selection for my new leadership team. I am hiring those leadership roles that I believe will be able to move into my role if I were to retire or leave.
Vice President, Global Solutions and Commercial Law in Software9 months ago
Having a clear succession plan for leaders and for single points of failure is prudent. Our leadership team revisits this every year. If you plan to have your successor come from within the organization, I recommend having a back-up as well, in case your successor leaves the company.Director of IT9 months ago
Succession planning should is important and really shouldn't be a one time thing. Filling in the boxes - or at least making sure the names are the same is one thing. But, needs change over time. What is critical in the next 6 months if we had a transition? Who in the succession plan needs training? Who needs experiences and exposure? What can I delegate for the purpose of preparing for succession? Is the team ready to align with the new leader?