In today's competitive markets, it is essential to maintain highly-qualified leadership talent. It is also important to the continued corporate performance. The concept is very clear, but is it easy to implement it?
The HR role is only secondary in this process; it is one of the strategic missions any business leader should face. Having said that the general expectation is that a business leader will invest in his successor. Handled properly, the business leader will gain challenged follower and motivated potential team leader.
In some cases, business managers find the above process challenging and even threatening. As simple as it sounds. Although they realize the importance of developing the potential leader' skills, they step back and stress an invisible line which makes the succession process impossible. Instead of being satisfied with their team talent development, they think about those who "outshine the master"…
Great business leaders identify and develop the skills of their team in general and for those who can replace them, in particular.
The benefit is straightforward. Successful succession planning provides the professional horizon for leadership talents. It also demonstrates the correlation between the corporate leadership requirements and long term management motivation.
Succession planning, in my opinion, is not just an opportunity. It is a strategic investment opportunity.
Meir
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