Successor Vs Competitor

ABC Pharmaceuticals (name changed) began succession planning to identify the critical positions and develop identified individuals to assume those positions with an action plan. The organization found 7 critical positions, out of which 3 internal candidates were identified and 4 external candidates were hired. After one year 6 of them resigned.

These resignations were due to poor Interpersonal skills with the Managers, ambiguity in roles, Unrealistic expectations, frequent changes and lack of recognition for good work.

Above mentioned reasons might be on the tip of iceberg, however underneath reasons could be gaps in:

1.???? Maturity level of organization

2.???? Selection process of right successor

3.???? Identification of critical positions

4.???? Environmental factors

5.???? Coaching ability of managers for successors

6.???? Past experience of Manager

7.???? Inadequate communication process and

8.???? Insecurity of manager

In order to have a successful succession planning, organizations need to focus on certain key factors as mentioned below:

1-??? Clarity of Critical Positions: In general all CXO roles are labeled as critical positions, instead of aligning with long term strategy and identify required future roles and competencies.

Critical positions can be based upon unique knowledge, long integration period, approaching retirement, strategic priority, scarce skills etc rather than all CXO roles

2-??? Ownership of the process: Organizations need to involve and communicate with existing job holders and prepare a clear job profile and communication plan for successors with specific time bound projects.

3-??? Identification of right successor: A high performer may not be necessarily a high potential successor. A proper competency-based assessment is the key for identification of a successor.?

4-??? Start small and scale up: Align your efforts as per organizational culture and maturity. Start small for those roles where risk of leaving is high eg. nearing retirement and long integration period. Share success and involve leadership team to build talent pool.

5-??? Address Insecurity of job holders: This can be done by Open Communication, Explaining the Purpose, Acknowledgement of Contributions, Addressing Concerns Proactively, Offering coaching Support

By implementing these steps, you can demonstrate a commitment and positive attitude towards the succession planning process.

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