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Your Business Needs a Plan of Succession

Author:  Liz Bywater, PhD
Date:  September 14, 2006

Business leaders know that succession planning is vital to an organization's continuity and growth. This is the process that entails lining up the right people to ultimately take over important positions in the company. You must first identify and then train the employees with the greatest likelihood of success in key roles.


While this may sound straightforward, it can prove daunting. Obstacles to creating an effective succession plan include:



  • Failing to conduct a thorough analysis of each position to be filled;

  • Having a weak or limited talent pool;

  • Lacking effective tools and strategies to identify high-potential employees;

  • Failing to groom employees with high potential for advancement.


What could happen when a solid succession plan isn't in place? Typical outcomes may include:



  • Frantic or chaotic efforts to fill vital roles as openings arise;

  • Uncertainty among key employees about their future in the company;

  • Loss of valuable training and development time for high-potential employees;

  • Intense competition among key employees who believe they're vying for promotion;

  • Marked disruption in overall company performance.


Organizations must be proactive to avoid such outcomes. They must identify the core skills and capabilities needed to succeed in each key position and evaluate the skills of their most promising employees.

Bucks County Courier Times

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