Building a Leadership Pipeline
Why would anyone develop someone to take over their job? Seems logical and counterintuitive at the same time. Right? In short, this is why: organizations want to ensure all areas/departments are under well-equipped leaders. If a leader does not have a replacement in mind, how can leadership consider them for a promotion? In other words, why would leadership remove someone from an area if there is any possibility to hinder its progress? This is where a succession plan comes in. But, what exactly is a succession plan? It is a process that identifies new leaders to replace old leaders when they are on their way out. It is a process that builds a leadership pipeline.
Not motivated to create a succession plan yet? Here are a few points that highlight the benefits for leaders and employees in the making of a succession plan.
Benefit for Leaders
Builds Loyalty/Trust: Loyalty/Trust does not come easy. Having a succession plan allows the employee to feel you have her best interest at hand and feel valued. Following up with an intentional development plan is a great way to achieve such loyalty/trust. This loyalty/trust also helps with employee turnover!
Improves Employee Engagement: Have you ever wondered why employees are not engaged? It is not because of lack of efforts on behalf of leadership (although this may very well be the case). It is because they do not see some kind of reward for them. A succession plan tells an employee that the reward will be a promotion, enhanced responsibility, and/or a leadership role. Engagement, therefore, is inevitable.
Creates a Leadership Pipeline: If you've ever had to hire someone for a leadership position you know how painful the process is. Here is a quick way to avoid that - invest in potential leaders within the organization. This saves everyone time and money! It also brings a degree of comfort and peace of mind to the hiring manager knowing exactly who they are hiring rather than hoping for the best.
Benefits for Employees
Drives Performance: One of the major factors that motivate professionals is the possibility of a promotion. Any employee would be much more inspired and willing to perform knowing they could be the next supervisor, manager, or department leader. A succession plan makes this very clear and drives an employee towards performance.
Close Professional Gaps: Most, if not all, people want to grow. The problem is that we don't always know how. A succession plan provides a framework that sheds light into an employee's performance gaps. Once these gaps are made visible, the leader will then be able to actively and intentionally partner with the employee in closing those gaps. This ensures that once an opportunity is available, the employee will be well equipped and receive leadership endorsement.
Provides Direction: There is nothing more disheartening for an employee than not knowing what is next in their professional journey. A succession plan provides a clear sense of direction. This sense of direction allows the employee to always have a goal in mind, eliminating any kind of confusion.
A succession plan is not a one-way street. Leaders, as well as employees, are able to benefit from it. Why look elsewhere when organizations have leaders working under their very own roof? Why not just take the time to develop a strategy to put a succession plan in place and develop leaders? Yes, it is hard work and, potentially, a great commitment. Just remember, we reap what we sow.