Does Your Organization Have a Continuity of Business Plan?
We’ve all heard the term “succession planning” and for most of us we automatically think of what happens when someone in leadership, usually the ED or CEO, announces they are leaving. While this is definitely a major part of succession planning, it’s really a smaller part of the process.
I believe there are three major aspects of succession planning that most organizations should be incorporating into their planning continuously.
Develop an emergency backup plan. Keep it up to date, and make sure that multiple people are aware and understand it.
Create a leadership pipeline. This includes ensuring you have staff members who are capable to take on the next leap in the organizational ladder, but even more importantly that you are investing in those who aren’t ready yet, but show a high potential to be ready with professional development and coaching.
Have conversations about transition openly and often. It should not be taboo for those in leadership to say, “I believe I will be transitioning out in the next 3 years.” In fact, it should be celebrated. Of course, this isn’t possible in every situation, but in my experience, we are so busy doing the work we don’t take the time to reflect on long-term forecasting.
Succession planning takes time, and when you keep up the maintenance throughout your tenure, it makes it so much easier when the time comes to move on.
If you find yourself in a position of needing support about succession planning, whether it be the things listed above, or on making a big leadership transition, we are here to support you.