Succession Planning Will Save Your Company
- Author
- Colby Morris
- Published
- Tue 05 Dec 2023
- Episode Link
- None
Succession Planning to Save Your Company
This episode dives deep into the critical but often neglected topic of succession planning. It's not just a fancy buzzword, it's a strategic tool that can make your organization resilient and ready for the future.
Key Takeaways:
- Why it matters: Mitigate risks, boost employee engagement, retain top talent, and ensure a smooth transition when key players move on (lottery win, anyone?).
- Building blocks: Identify key positions, assess your talent pool (don't force the rockstars!), and create career paths with clear expectations.
- Making it work: Develop training, provide mentors, and encourage cross-functional experiences. Communication is key!
- Real-world example: Upbring integrated succession planning into their performance management system, creating a talent pipeline for all leadership positions.
- Tools and tips: Use forms like the Supervisory Skills Verification Form to identify internal leadership potential. Regularly discuss career aspirations in one-on-ones, and leverage mentorship programs.
- Challenges and solutions: Address resistance to change, favoritism concerns, and internal competition with clear communication, employee involvement, and transparency.
- Remember: It's an ongoing process, not a one-time event. Update your plan regularly and commit to your team's growth.
To find out more about Upbring and how you can help, visit their website.
Ready to future-proof your organization? Subscribe, rate, and review "Things Leaders Do"! Connect with Colby on LinkedIn and Instagram to share your thoughts on succession planning.
