BEYOND SUCCESSION PLANNING: SUCCESSION MANAGEMENT

Though a minority of organizations actually have succession plans in place, only half of those that do update the plans regularly. This neglect poses serious risks. These findings emerged from a study of 2,500 senior human resources executives conducted by the Novations Group of Boston.

Clearly simple succession planning is not enough. The next needed step is "succession management" according to Executive Consultant Michelle Knox in the July 23rd Herman Trend Alert. Beyond filling an empty slot, organizations need a process that supports ongoing talent development.

Best practices cited by Knox are:

*  Align succession management with corporate strategy and all human capital systems.

*  Create talent pools where participants are given access to the tools and resources for their own continuing development.

*  Have individuals nominate themselves for the succession management talent pool.

The last practice cited is bound to be controversial, but especially in an organization with a strong trust base, it makes a lot of sense. This is not just for large firms or top management positions, but potentially for a wide range of significant positions. Anyone who is ambitious to move into leadership (at any level) could nominate himself/herself to be considered for professional development toward leadership. Having people self-select to begin with shows who really wants it. That is no guarantee of the desired position -  just to be a serious part of the talent pool. Their individual development needs would be evaluated, a plan would be created, and they would get feedback on their progress.

I think such a process would appeal to members of Generations X and Y, who don't believe that leadership and authority should be given just on the basis of seniority and longevity. It could allow for a continuous pipeline of individuals familiar with the firm and its culture who would have incentive to stay around longer because they see good possibilities for career growth emerging from their own initiative.

How do you think this would work in your organization?

Phyllis Weiss Haserot     www.pdcounsel.com