What strategies can you use to identify future leaders for succession planning?

Where do you want to go? There are dozens of tools and acronyms that will make it easier to answer that question. But at the end of the day, leadership needs to decide where the company is going.

Spotting future leaders is like building a dream team for your company's success! Start by recognizing those go-getters who not only rock at their current gigs but also show potential for bigger things. Think of it like crafting a superhero squad – you want the ones with the right mix of skills and attitude. Set up programs that are like leadership boot camps – intensive, hands-on, and a bit of fun. Get the scoop from all angles with 360-degree feedback – it's like having your team's back covered. Throw in some cool challenges and projects to test their mettle, and don't forget the mentors – Keep it fresh and lively by spicing up your succession plan regularly – it's like updating your playlist for a killer party.

I have seen many different leaders during my career, but their success was never down to professional experience. It's how they treated people, how did they talk to them. Be honest, be transparent, lead by example. Don't say we are a family, but act like a responsible parent. Try to understand your people and not the problem. Set your expectations. Be able to make decisions, but allow people to contribute to it. At the end you are responsible, but you can do it in a nice way. If someone has these skills those would be perfect future leaders. To be honest it's not something you can identify, these people should naturally grow into these roles, you can only help them to have enough space to expand.

1. Aligning what your organization goals are, building your priorities and where you are in the journey helps you to assess your current and future needs. 2. While you work with your teams closely you assess their strenghts and weaknesses, continue to share feedback and provide support that is needed to help your team to be successful in the journey. While in this process you certainly assess who can be future leaders.

Spotting future leaders is like building a dream team for your company's success! Start by recognizing those go-getters who not only rock at their current gigs but also show potential for bigger things. Think of it like crafting a superhero squad – you want the ones with the right mix of skills and attitude. Set up programs that are like leadership boot camps – intensive, hands-on, and a bit of fun. Get the scoop from all angles with 360-degree feedback – it's like having your team's back covered. Throw in some cool challenges and projects to test their mettle, and don't forget the mentors – Keep it fresh and lively by spicing up your succession plan regularly – it's like updating your playlist for a killer party.

Vision and Strategic Thinking: Ability to articulate a compelling vision for the future. Strategic thinking to develop plans and goals aligned with the organization's mission. Communication Skills: Effective communication, including listening skills. Ability to convey ideas clearly and inspire others. Decision-Making: Strong decision-making skills, often based on a combination of data and intuition. Willingness to make tough decisions when necessary. Adaptability: Flexibility to adapt to changing circumstances and environments. Openness to new ideas and a willingness to learn. Integrity and Ethics: High ethical standards and integrity in all actions. Transparency and honesty in communication.

Leaders should listen well and have good communication skills, should be humble, motivate others for achieving success and company goals, being multitaskers and showing initiative. Creating good working environment within the company.

Leadership goes beyond a title or position. A great leader is one who is generally regarded & who can inspire and motivate people to attain common goals. They have the ability to not only make others listen, but also to connect with them on a personal level, generating a sense of shared purpose. Effective leaders excel at developing cohesive, high-performing teams and guaranteeing a strong second-in-command to increase organisational resilience. A leader not only embraces but actively seeks constructive feedbacks, establishing an open & improving culture. In essence, leadership is about influencing good change, encouraging growth in others, & establishing an environment where everyone feels empowered to contribute towards a shared success.

1. Creating glass clear image 2. Do what is beneficial for complete team and company 3. System oriented 4. Setting vision as per company goals

A good leader should have integrity, self-awareness, courage, respect, empathy, and gratitude. They should be learning agile and flex their influence while communicating and delegating effectively. See how these key leadership qualities can be learned and improved at all levels of your organization.

We can identify the high potential staff by evaluating the Success driven,Eager to engage in new projects, Strategic decision-makers, Proactive in situations that ask for leadership, Effective at managing stress, Flexible and Relationship builders.

It starts with identification of Long term goals or Vision of the organization. Step two is to identify the key positions responsible for continues marching towards that set organizational goals. Once such positions are identified, Successors are to be identified and assessed through third party experts to avoid any bias in the process. Based on the evaluation, career path have to be redesigned or to be moved to fast track for the identified successors. Management should actively get involved and measure the level of utilization of authority and responsibilities by the successor.

Every employee comes with a set of strengths & some Wow factors in their personality. It's important to identify their potential. Performance appraisals, 360 degree feedback, peer reviews & many such practices can help but most important here is to see them beyond this. Opinion shouldn't be formed based on what people say. Ratings might go up & down but what should really matter is their approach to the task, their attitudes while working, their audacity to take challenges & what enthusiasm they bring to the table.

One thing which seems helpful is a constructive & right methods to identify the future leaders. Not only we should look for external candidates or alumni but to look beyond the obvious sometime not just the suggested leader is the right choice but the one who is strategic, ethical has ideas which is not only data driven & calculated for company's need but also aligned with the future need of technology, employees welfare & critical thinking. Leaders can create a well rounded organisation, can create excellent work environment, which should also have a goal to have sustainable development overall. We all should give & access the leaders not only on technical but on ethical basis too.

It's beneficial to create opportunities for employees to showcase leadership in less conventional settings, like cross-functional projects or innovation challenges. This can reveal untapped potential and diverse leadership styles. Furthermore, engaging in regular, informal conversations with employees can provide insights into their aspirations and capabilities, often overlooked in formal evaluations. Balancing internal discovery with scouting external talents can indeed bring a rich diversity of perspectives and skills.

In my experience, the most critical step that plays a crucial part in not only retaining & keeping the identified talent engaged is DEVELOPMENT.Most of the succession planning ventures fail because post identification, the ball gets dropped.But before development of talent there is another crucial milestone that line managers and HR should collaboratively achieve which is of communicating the talent calls to identified Hi-pots so they are also actively engaged in their development journey.This creates a win-win for both organisation and employees.And also create a healthy competition among those who are not currently part of the org talent pool. But HR should do an analysis of the org maturity level before mapping their talent strategy.

A HiPo can have a robust Individual Development Plan with some of the following : *Role transition based developmental coaching to gauge readiness levels & bridge that gap to set the HiPo for success in the new role. *Mentorship by Senior leaders. *Opportunities to work in cross functional projects and connect with peers across the globe to build on skills and network within the company. *Customised learning journey with emphasis on skill based learning ( through certificate courses from premium universities & opportunity to network with peers across industries)along with enhancing leadership skills. *Creating opportunities for them to be part of ERGs(employee resource groups) & champion social/ wellness causes. * Track their progress.

Effectively developing high-potential employees is crucial for establishing a strong leadership pipeline & ensuring long-term organizational success. This involves identifying individuals with exceptional performance & leadership qualities through evaluations and feedback. Individual Development Plans (IDPs) tailored to unique goals & skills are essential. Providing cross-functional exposure & continuous learning opportunities foster skill development. Additionally enrolling high-potential employees in external leadership development programs broadens their skills & perspectives. By combining these strategies, organizations create a comprehensive framework for cultivating high-potential talent, preparing them for impactful leadership roles.

After identifying the high potentials, companies should spend into the developmental needs of employees. only then the potential employees can realise the actual position.

Emphasizing personalized learning paths is key. Incorporating a mix of formal education, like leadership programs, and experiential learning, such as shadowing leaders or leading small projects, can be very effective. It's also crucial to foster a feedback-rich culture where constructive feedback is regularly exchanged between peers, subordinates, and superiors. This promotes continuous improvement and resilience. Additionally, encouraging high-potentials to mentor others can enhance their leadership skills while building a culture of knowledge sharing.

retaining top talent saves both time and resources that would otherwise be spent on recruiting and training new employees. High-potential candidates already have a deep understanding of the company's values, goals, and operations, making them valuable assets that contribute more swiftly and effectively to ongoing projects and initiatives.

Apart form retention basis comp it is also pivotal to engage them in such a way that your HIPO should feel connected. A long term association through learning an development program or taking care of needs of employee investment in children’s education will take the organisation to next heights.

Yes, definitely a key to continued growth and a healthy culture - but how do you retain these gold gems within your business? How do you engage and motivate them to continue their journey with you? There isn’t one size fits all - and from my experience please try not to reward these employees with more and more work as that may only be to the detriment of the employees causing burnout, stress etc. Feedback, recognition, opportunities to work on cross functional projects…. Maybe the odd all expenses paid to Hawaii?! Sometimes asking them what would work for them and what they would like can have a huge positive impact, as well as go a long way in developing engaging relationships by showing that you care.

Retaining top talents can be a challenge more so with the increased competition and the employee and skills being in demand. Only monetary benefits will never be sufficient for retention. We need to appeal to the self-esteem and self-actualization needs of the high performers. Keep them engaged and connected along with other retention strategies. Have a deferred compensation in place which may be linked to the outcome of the MDP/EDP programs that the HIPO's will undergo while we prospect them different roles in the hierarchy.

Retention is indeed crucial in succession planning. Beyond competitive compensation, it's essential to cultivate a sense of belonging and purpose among high-potential employees. Recognizing their contributions in meaningful ways and involving them in decision-making processes can foster a deeper connection to the company. Offering tailored development opportunities, such as sabbaticals or external learning programs, can also satisfy their growth aspirations. Regular career path discussions, emphasizing long-term career prospects within the organization, are key in showing them their valued place in the company's future.

Another benefit of succession planning, that it facilitates talent mobility across the organization, be it vertically, diagonally, or even horizontally. Such transitions foster a culture of continuous learning among employees, increasing motivation and satisfaction while ultimately reducing attrition. For an employee to envision their career growth within the organisation through succession planning will serves as a catalyst, enabling individuals to achieve more and seize new opportunities.

One aspect that should be taken into consideration is the behavioural change that can be expected from a person being moved to a leadership position. Although it is a rare occurrence, however, there can be instances where upon being moved to a leadership position, the person creates cultural disharmony due to internalized ideals. While cultural disharmony is not in itself a negative implication and disharmony is how cultures evolved, however negative implications should be considered. As such, cultural fit should also be taken into consideration.

Starting planning ahead. Start preparing for succession planning before you think you need to. If you start as soon as you are losing a high level team member, it's too late. Start preparing SOPs, best practices, and company culture quirks now so those can be passed on when needed.

All of the options listed are important strategies for identifying future leaders for succession planning. These steps represent a comprehensive approach to succession planning, ensuring that you understand your organization's needs, establish criteria for leadership, identify individuals with high potential, develop their skills, and retain them for future leadership roles. The last option, "Here’s what else to consider," may contain additional details or considerations related to the specific context but isn't as specific in outlining steps for succession planning.

A succession plan is not a one and done exercise. It needs to be continually refined based on changes in your organization. You should also evaluate its use in the organization. How often are we using the candidates on the succession plan when a vacancy arises. If you find you are not using it, delve into the reasons why and adjust your process to increase the usage.