Succession Planning-Tip #7 Keep it simple!

Previous posts in this series:

Tip #1- it’s never too early to begin planning!

Tip #2- what’s the real difference between workforce and succession planning?

Tip #3-It’s a process, not a one-time event

Tip#4- Five Simple Succession Planning questions

Tip#5-Which of the 4 stages is your company in?

Tip #6 Metrics to use in successful planning

When it comes to succession planning, the mantra should be “keep it simple”. Use the resources you already have to advance the next generation of leadership in your company, and use assessments to gauge who in your company should be moved up in succession.

Using in-house resources in succession planning will result in:

  • An ongoing supply of well trained, broadly experienced, well-motivated people who are ready and able to step into key positions as needed.
  • A cadre of desirable candidates who are being integrated into the company with positive goals established for them individually.
  • A flow of these capable people through various departments with the goals of educating them into the culture and processes of the company.
  • Availability of appropriate resources within the company to conform to the future needs of the company.
  • Finally, be realistic. 

Setting unrealistic goals will only lead to frustration. Define what success means to you, and which goals you wish to accomplish. By considering the aforementioned suggestions, you can achieve both.

At Key Corporate Services, we partner with companies to meet their succession planning needs.

From The Key Corporate Services Blog Team