Succession Planning is so Boring!
Succession planning doesn’t have the flashy name that some other hot topics, it’s pretty long-range and strategic, it’s sort of depressing and it’s very hard. So it doesn’t get a lot of attention. Add to that the fact that there are numerous variables that affect even the most water-tight of plans, and many of those have been drastically affected by the economy of late. Boomers are staying in the workforce longer, educated, loan-burdened students are expecting more from their first gigs (or going back to school altogether) and many mid-level managers aren’t ready to take the executive mantle, yet everyone wants to be a leader.
Nope, succession planning is a thankless task, which is probably why 48% of HR Professionals admit, they haven’t done one. I’m no mathematician but that sounds like just about half. Have you created a process for identifying and developing internal people with the potential to fill key business leadership positions in your company? Has your leadership team? Has recruiting been made privy to this document?
Trish McFarlane talks about the difference between “succession readiness” and “sucession planning” on her blog HR Ringleader and it’s a key distinction. While succession planning seems overwhelming (especially if your company has never undertaken the task), “succession readiness” is a bit easier to swallow. Read more…