Five thoughts about succession planning

Geek 5, Managing people, Talent Management

We’ve talked about what succession planning is, what succession ratings mean, and the difference between performance and potential.  Here are some key points to consider:

1.  Succession planning is about identifying key talent and developing employees for bigger roles.

2.  This planning is a form of risk management for the company.  It ensures that key roles have back up, so the business will not be significantly impacted if someone leaves.

3.  Performance and potential are not the same thing.  The best sales representative is not necessarily the best manager of the sales group.

4.  As a manager of people, you have a dual role in succession planning.  You must consider the potential and development of your direct reports and you, as an employee, are discussed in the process.

5.  You can improve your standing in succession planning by:

  • doing an outstanding job in your current role
  • showing a willingness to take on bigger responsibilities
  • living the values and competencies developed by your company
  • letting your boss and other key leaders know about your career goals
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