Succession Planning Doesn’t Have to Be Complicated—Here’s How to Get Started

“Later might be too late.”

I say this often when speaking with CEOs, executives, and HR leaders about succession planning. Because for many organizations, the conversation has started—but that’s where it stops. They acknowledge the importance; they may even have a policy in place, but when a key leader leaves unexpectedly, they find themselves scrambling to fill the gap.

I get it. You’re focused on growth, expansion, sales, and operations. Succession planning feels like something to tackle later. But what happens when later arrives unexpectedly?

Here’s the good news: Preparing your leadership pipeline doesn’t have to be complicated or time-consuming. Even if you have just an hour, you can start taking steps today.

Why Leaders Delay Succession Planning

From my experience working in leadership and talent management, I’ve seen a few key reasons why succession planning gets pushed aside:

1. It seems resource-intensive – Leaders assume it requires complex evaluations, lengthy programs, and their direct involvement at every step.
2. They underestimate the risk – Some believe leadership gaps are just temporary inconveniences that can be managed on the fly.
3. They think hiring externally is the solution – But the cost of recruitment, onboarding, and lost productivity can be as high as 200% of an executive’s salary.

But here’s the overlooked reality: If you don’t make time to prepare successors now, you’ll spend twice the time and energy later trying to replace someone who leaves. And that’s not all—leadership gaps can drain morale, create inefficiencies, and stall critical initiatives.

Three Simple Steps to Get Started

Succession planning doesn’t have to be overwhelming. You don’t need a fancy system or endless forms—just a structured conversation. Here’s how to start:

Step 1: Ask the Right Questions

Take 30 minutes and reflect on these key questions:

• Who are the three individuals who could step into this critical role?
• Of the three, who could be ready within a year?
• What is stopping them from being fully prepared?

These questions give you immediate clarity on your talent pipeline and any gaps that exist.

Step 2: Identify Skill Gaps

Once you’ve identified potential successors, assess their readiness:

• What specific skills or leadership behaviors do they need to develop?
• Are they missing critical experiences like strategic decision-making, cross-functional collaboration, or executive presence?

This step helps pinpoint exactly where to focus development efforts.

Step 3: Take Action to Close the Gaps

Now, create a simple plan to develop these leaders:

• Coaching & Mentorship: Pair them with a senior leader for guidance.
• Cross-Training & Stretch Assignments: Give them exposure to different areas of the business.
• Strategic Projects: Involve them in high-level decision-making to build experience.

These steps ensure successors are actively growing, not just waiting for an opportunity.

The Biggest Mistake? Only Looking Within Departments

One of the biggest traps in succession planning is only considering talent within your functional area. Leaders tend to assume that the next marketing head must come from marketing or the next finance leader must come from finance.

But when you focus on capabilities instead of titles, you open the door to hidden leadership potential across the organization.

I’ve seen firsthand how broadening this perspective can change the game. In a succession planning session I facilitated, executives initially presented a list of successors within their own teams. But once we expanded the discussion, leaders from other departments were identified as strong candidates for roles they were never originally considered for.

This simple shift can uncover talent that’s been in plain sight all along.

Can You Afford to Wait?

The real question isn’t, “Do I have time for succession planning?” It’s: “Can I afford not to?”

By taking action today, you’ll:

• Strengthen team morale by showing employees you’re invested in their growth.
• Reduce your own mental load, knowing your team is ready to step up.
• Free up time to focus on strategy, not firefighting leadership gaps.
• Position your company for long-term success and stability.

And the best part? It all starts with one conversation.

Frequently Asked Questions (FAQ)

1. What if I don’t have anyone ready to step into a leadership role?

That’s okay! If no one is immediately ready, use this as a signal to start developing internal talent now. Identify potential candidates and create a structured development plan to prepare them over time, including mentorship, training, and stretch assignments.

2. How can I make succession planning a priority when I have so many competing demands?

You don’t need to overhaul your entire leadership pipeline overnight. Start small—dedicate just one leadership meeting per quarter to discussing potential successors and development opportunities. Taking even small, consistent actions will build long-term readiness.

3. Should I focus on internal development or hire externally?

A combination of both is best. Prioritizing internal development ensures cultural continuity, employee engagement, and cost efficiency. However, external hiring can be beneficial for bringing in new perspectives and skills when necessary. The key is to have options—so you’re not caught off guard when a transition happens.

Alicia Knight, MBA |Leadership & Talent Management

PS: If you’re ready to take action and need support in identifying leadership gaps or developing a plan, personal message me on LinkedIn.