Sounds pretty straightforward, right? Well... it is and it isn't. Succession planning can, in fact, prove a daunting process. Some of the obstacles to doing it right include:
- Failure to conduct a thorough job analysis of each position to be filled.
- Lack of internal benchstrength (e.g., having a weak or limited talent pool within the organization).
- Lack of effective tools and strategies for identifying high potential employees.
- Failure to groom high potentials for advancement within the company.
- Frantic or chaotic efforts to fill vital roles within the organization as openings arise (and they sometimes arise with little or no warning).
- Uncertainty among key contributors as to where they’re headed within the organization.
- Loss of valuable time for training and development of high potentials. (This type of preparation has a major impact upon the individual’s effectiveness in a new role. It dramatically increases the likelihood of success for the individual and the organization. It ought to be a priority.)
- Intense competition among key employees who believe they are vying for promotion.
- Marked disruption in overall organizational performance.
- Identify the core skills and capabilities associated with success for each key position.
- Evaluate the various competencies of their most promising employees.
- Develop these talented folks so that they're prepared to take on the myriad challenges and responsibilities of their future positions.