It’s not enough to have the right people in the right jobs for now – you need to plan for tomorrow. That means understanding where you’re heading and making sure that you’re developing the future leaders you’ll need.
Building your talent pipeline
Successful companies don’t leave their future to chance. Long-term strategy means nothing without a steady supply of excellent leaders to make it happen. That’s why succession planning is so critical – and why it should never end.
When succession planning works well, it helps you to spot people with the potential to lead, and to develop them into the best possible leaders when they’re needed. The best succession plans work with your organization’s culture and long-term strategy, creating a strong, high-quality pipeline of motivated, talented future leaders and managers.
Leaders are made, not born
It’s called succession planning for a reason. At Hay Group we take a systematic approach, using our experience and research to understand how particular roles contribute to your business and what it takes for people to succeed in them.
The first step is to understand your business strategy and the jobs that are the most important in making it happen. This allows us to create a succession ‘framework’ for the progression of future leaders.
Grow your own
The next step is to help you work out whether you have the people with the talent to move into these roles, today and in the future. We’ll also create a plan that will give your key people the skills and experience you’ll need, which includes:
- mapping career paths for people with leadership potential
- explaining the risks and benefits of job moves
- performance coaching and other support, if you need it.
Succession planning is one of the most important things any business will do. However hard you work today, it means nothing if you don’t have excellent leaders to take over in the future.