Don’t Wait to Create a Succession Plan
July 13, 2010
By Bob Sadowski, APR, Communications Manager
As a public relations and communications practitioner, I read a lot of publications, including local and business newspapers as well as industry trade periodicals. Recently, I’ve spotted several articles about a topic that I’ve never investigated in the past—succession planning. I figure if multiple publications in different industries and geographies are covering the topic, it must be of interest, so I read up on some current trends in succession planning.
One article I found in an issue of the Commercial Carrier Journal did the best job of summarizing most of the information I read about succession planning. This particular article focused on the management side of planning and asked the readers to answer a series of questions to determine if they have a solid plan in place:
- Does the person you deemed your successor have a passion for the business? Don’t assume that just because this person has a long tenure at the company and/or a title that comes with great responsibility that they want the job. Ask them.
- Is the person’s motivation appropriate? If their aspirations are driven by money and perks, you may want to reconsider your choice.
- Can the person make a contribution that will help the company endure through the next generation? If they don’t have the skills needed for the job, you may be putting their career as well as your employees’ well-being in jeopardy.
- Does your selection meet the minimum requirements? As stated by the CCJ, the scope of your operation determines what knowledge and experience a successor absolutely needs.
- For family-run operations, do you feel obligated to keep it in the family? Just because you think everyone expects you to do so doesn’t make it the right choice.
After you’ve answered these questions and have selected a person you feel is best for succession, there are additional factors that must be considered. For example, no matter how qualified and capable the successor may be, there will always be resentment from others in the organization who feel that they or someone else is better fit for the job. Some things to consider to help curb this resentment include:
- Selecting a successor who has industry experience outside of your company
- Making sure your selection has demonstrated the capability to work hard and has put in the hours
- Seeing that the successor has established and developed his or her own relationships with others in the company at all levels of the business
Once you’ve selected the successor for your business, the all-important element of communications comes into play. First and foremost, be clear and upfront with your employees. This is most critical if you are to facilitate a smooth transition. Second, don’t forget your customers. Communicate with them as personally as possible and make sure none are surprised by the news.
This, of course, is a very high overview of succession planning. There’s a lot more to it, and every business will be unique in its plans. Do you have succession plans in place? Do they meet the criteria above? Are you prepared to implement the plan? I welcome and encourage your thoughts and comments.
Filed under: Industry Insight
