BIGGEST MISTAKES RE: SUCCESSION PLANNING i

Despite acknowledgment of the importance of succession planning for all critical roles in an organization it is too often not done right if at all. The mistakes and misconceptions of firm leaders tend to fall into three categories, which I will address in thee posts. The first is

TIMING

*   Not starting early enough to identify and groom successors.

    As I have noted in greater detail in other posts, this needs to be a continual part of talent management. You never know when a critical player at any level or function will leave through illness, death, relocation, defection to another organization (including a client company), You should be thinking in term of years in advance for planning and identifying successors.

*   Not allowing sufficient time for overlap and transfer of responsibilities

     This is related to the first mistake. However, even if potential successors have been identified and their preparation in terms of knowledge and skills is underway, actual transfer of responsibilities should not be a short term process in most cases of significant responsibility and relationship-building.

Phyllis Weiss Haserot   www.pdcounsel.com .