Succession planning

Be prepared when critical leadership positions suddenly become vacant

Why you should have a talent succession plan

When a CEO, vice president or senior level director leaves an organisation, the result is all too often chaotic. These critical leadership positions are required to drive organisational goals and initiatives forward, and they provide guidance to the rest of your employees on a daily basis. Without them, forward movement stalls and their absence may shake confidence and morale across your entire workforce. But it can be difficult to fill leadership positions quickly – and with the right people.

The answer to this challenge is to have a succession plan, which is a strategy for passing on leadership roles and responsibilities to well-prepared successors within your organisation. But how do you identify who among your employees has the potential to take on a leadership role successfully? And if your employees are not ready for a promotion to the next level, what do you need to do to get them ready?

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Our top 5 tips for identifying high potential within your workforce

    Start having talent discussions

    The first step is to start having regular talent discussions with your chief executives. These discussions are not performance reviews but should be formalised and scheduled on an annual basis. Talk through all the possibilities for every critical leadership position. Are you going to have any vacancies coming up? Are you getting what you need from each leader? Just having these discussions can give you a starting point for your succession plan.

    Make a plan for every leadership position

    You ideally should have a succession plan for all leadership positions within your organisation. At the very least, make sure you have a plan for the most critical positions. Then, if one of your critical leaders decides to resign, you’ve already organised a way to move forward with a replacement – saving valuable time.

    Identify skills gaps

    Look at the main skills or competencies required from your critical leadership positions. If one of those positions becomes vacant, does someone else in your organisation possess the same skills? What are the gaps in your current employees’ skill sets that need to be developed? Identifying these gaps tells you exactly where you need to address your development programme.

    Implement a development programme

    To prepare your employees for growth and future promotions, make sure you have a programme in place to develop the skills they need to reach those leadership positions. Even your current employees who are not yet high performers can be developed to become high performers. Figure out what you need to include in their development plan to ensure they will be ready to take on more responsibility when you need them to.

    Select for leadership potential

    Don’t forget about selection. To ensure you have potential leaders within your organisation to step up when a current leader resigns, you should be assessing each person in your candidate pool for their high-performance potential. Hire people who not only are a great fit for the role and your organisation, but who also have the potential to grow into future leaders.

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Proven expertise in succession planning

  • Improving leadership of top talent through EI

    How British Gas matured leadership capability in their talent pool using Talogy’s expertise in emotional intelligence

    Read more
  • 100% of participants felt they were now “completely or mostly aware” of their strengths and development needs

    Benchmarking the strength of the current talent pool

    How Rydon commissioned Talogy to design and facilitate a rigorous, objective assessment and development centre process to give the board a clear sense of the current talent pool

    Read more
  • Hiring and managing talent effectively in a fast-growing organisation

    Understanding their talent strengths and pipeline has allowed the establishment of a strong, multi-year succession planning process

    How Kramp Group partnered with Talogy to implement an objective high-potential identification for both current and future employees

    Read more

The result is that we and our leaders can make some genuinely informed decisions about where their energy and future talents lie.

Neil Miles

Leadership Development Manager, British Gas

Why Talogy

Talent management solutions from start to finish. With constant innovation and endless creativity, Talogy crafts solutions for screening, selection and development – for every employee level. Talogy can help you customise a complete talent management programme. Solving for the talent challenges of today and tomorrow.

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Learn how Talogy can help you with your succession plan.