Where will your company be in 3-5 years, and who will be running it?
Succession planning needs to start with strategic planning. First, ask:
- Where do you want to be in 3-5 years?
- What might the world, industry, company and world look like in 3-5 years?
- What departments, roles and skill sets will be necessary between now and then?
- Who’s going to be in those roles?
- What will the organization’s strategies be then?
So, if there was ever a question about it, training and development of your employees is not a luxury, because…
- …someone eventually has to replace you and your senior managers
- …if they learn to take on more responsibilities, you’ll get to do other things (or less of everything!)
- …they want to get better and have a career path
- …if you don’t improve their skill sets, their next employers will
How do you start planning for all of that NOW?