Overcoming the Succession Planning Paradox (2)

Most organisations realise succession planning is an important priority but few orchestrate it well. According to a new study, effective strategies typically consider a balanced mix of human factors and data.

Last week, we looked at succession planning types and how organisations might need to realign their agenda towards a more balanced approach for the future. This time around we learn more about the benefits of a centred approach to succession planning.

The potential gains from good succession planning go far beyond the obvious result of having a steady pipeline of leaders ready to step into new roles. A centred approach to succession planning is designed to put the people involved—both the leaders managing the process and the successors being considered—at the centre, and is supported by processes that help decision-makers maintain objectivity. The aim is to create a succession program that leaders want to participate in, which can happen only when all participants appreciate its value, feel it is fair and easy to navigate, and believe it ultimately creates more opportunity for all involved. Leading Practices

Five practices can help organisations move their succession planning efforts toward the centred state: • Make it worthwhile. Asking leaders to fully engage in succession planning without an emphasis on their own interests is likely to result in apathy and avoidance. Organisations can manage these issues by offering bigger, bolder opportunities to current incumbents so they will focus on succession. Many leading organisations craft short- and long-term incentives that reward leaders for creating environments that develop successors, not just identify them. • Establish accountability and advocacy. Who is responsible for identifying and developing top talent—the CEO, the chief human resources officer (CHRO), direct managers, the board of directors? Research shows that, while people may acknowledge the importance of an activity, they won’t engage in it until clear accountability has been assigned. Interestingly, who specifically has organisational accountability for succession planning doesn’t much matter—as long as it’s clear where the accountability lies. Having one or more senior-level advocates for succession planning is also crucial. • Focus on the future. At its core, succession planning is about preparing an organisation for the future, yet many organisations build their succession processes around the needs of current roles. Within IT, one smart move can be to help promising young professionals gain exposure to other business functions within the organisation as well as to the latest trends in the broader business world. That may mean stretch assignments, temporary job rotations, or opportunities to serve on task forces and committees, for instance. Whatever the approach, the goal is to broaden the perspective and experience of these potential leaders and prepare them to deal with a future that will differ, possibly drastically, from today. Orienting toward the future can also make the process less threatening for current leaders focused on selfpreservation. • Create short-term goals with a longterm focus. Instead of asking someone to do something once a year to plan for an event five years from now, organisations can break down the succession planning process into smaller, shorter-term components and ask people to complete them on a more routine basis. Seeing leadership succession planning as part of their dayto-day job helps keep leaders engaged in the shorter term while they also proactively pursue long-term success. • Cultivate transparency and trust. Finally, distrust in the system can lead to disengagement and even unacceptable workplace behaviours. Organisations that use simple, accessible, and transparent data collection processes for succession planning and clearly communicate decisions using this data are often more successful. Many leading companies take a design thinking approach, creating an experience that blends objective, disciplined methods with the intrinsic needs of the people for whom the process is designed.

Ultimately, the solution to the succession planning paradox is surprisingly obvious but unsurprisingly difficult: Balance empathy and attention to human factors with objective decision-making and the organisational discipline to see the process through. The organisation that succeeds can make that balance not just an effective part of its growth strategy but also a signature feature of its corporate culture.