Why is succession planning important? (page 2 of 2)

Of course there are also a number of pitfalls you need to be aware of regarding succession planning:

• Focusing only on the "technical competencies" and failing to consider the team-building and leadership development requirements

• Underestimating people within the organization or overlooking employees that don't appear to fit your standard "company template"

• Implementing a program that is designed for upward mobility only - lateral succession moves should also be included in the plan

• Failing to offer the appropriate training and developmental opportunities

• Creating a development program that only offers generic "leadership" training programs

And the two biggest errors made regarding succession planning efforts:

• Not holding managers & leaders accountable for succession planning
• Not sharing the data with employees - you run the risk of losing promising employees if they don't feel the company has a plan for their development

This is why succession planning must be a coordinated effort between HR and line and senior executives must ensure the line managers get involved with their own division succession planning efforts.

Finally, don't make the mistake of thinking succession planning is only concerned with "upward" succession. Lateral assignments may also be used because there are fewer opportunities as you progress upward in the organization.

It's the role of every manager to help their promising subordinates develop their fullest potential by continually challenging them and increasing their leadership competencies.