Assessment + Management
YOU CANNOT START TOO EARLY
Whether you have initiated your exit strategy time line or not, it is never too early to train and groom the next generation of leadership.
THE JOURNEY: Your Strategic Plan will be a unique reflection of your organization.
Some use road maps, some take the road less traveled and, some, like hounds – follow their nose.
Don’t take any one “step” or destination too literally – be open to the evolution and discovery, check your beliefs and challenge the picture you have in mind of what it will look like. Be open to change and manage that change. Be introspective, invite authentic communication, and trust your gut.
Consider engaging an outside Consultant to implement the process. The benefits: Staying on course; Mitigating bias; Providing expertise and infrastructure, and Encouraging uncensored perspectives. (Reducing stress might be a byproduct.)
Like starting a business, this phase should be embraced with the same enthusiasm, passion, and excitement. Enjoy!
DISCOVER — DEVELOP — DELIVER
Assess: Needs & Capacity
IDENTIFY:
Key Positions - Define the behavior, attitude, skills, knowledge, experience and talent, required to be successful in the role. Consider which positions would need to be filled almost immediately to ensure your organization continues to function effectively.
Current and Emerging Needs - Examine your strategic and operational plans, clearly articulate priorities. Revisit the organizational functionality, and consider a redesign.
Gaps - Which individuals are slated to or likely to leave and when? Which new positions will be required to support the strategic plan? Which positions have become or will become obsolete? What skills and knowledge will need to be developed?
EVALUATE (ALL STAFF MEMBERS):
- What: Skills, Knowledge, Desire, Temperament, Attitude, Values
- How: Independent Surveys, Assessments, Performance Reviews, Manager/Stakeholder Recommendations, Informal Conversations, ‘Blind Skills Map’
- Who: Consider ALL employees and use advancement as a retention tool. Engage employees by matching their interests to opportunities. Reevaluate employees independent of their existing roles.
Manage Performance
DEVELOP A PLAN: Identify a primary Succession Plan Advisor or Team /Board (internal or external). A Performance Management plan (including recruitment and development) needs to be put in place. The time from plan development, announcement of the successor, and transition is crucial. Wise and accessible mentors, coaching and a feedback-rich environment is vital.
Create a Project Management plan including timeline based on the capacity, needs, and gaps identified during the assessment. Allow the organizational chart to be a fluid map in the process. Involve stakeholders early on, and as the plan develops and changes.
IMPLEMENT: An ongoing Performance Management Plan should be initiated if one does not already exist. (This will aid in making the business more attractive for transfer of ownership or sale.) The scope should include roles and responsibilities, accountability, leadership training, and other components of a traditional program. A development plan for each high-potential member should be designed to prepare him or her for the leadership position. In the selection process be mindful of the competencies desired in a leader such as: leadership, initiative, judgement, planning and organizing, teamwork, commitment and political savvy.
In addition, the advisor/team should identify the intervals for ongoing assessments of employees and the plan. It should be in concert with the financial team’s succession plan strategy, and the personal and professional goals of the owner.
Procedure manuals for essential tasks carried out by key positions should be updated to reflect the changes.
MANAGE: Review and update the succession plan regularly. Reassess your hiring needs and determine where the employees identified in the plan are in their development.
Managers should be held accountable for continuously grooming and career-pathing their staff. Be prepared to address issues such as concerns of staff who have not been selected for career advancement. Ensure alternative paths are identified to allow all employees who are interested in career enhancement to be given some type of professional development opportunity.
Make certain your Succession Plan includes a risk management component. Recognize that no matter how well you plan, something probably will happen which the succession plan doesn't address. For example, you may have dutifully trained a "second" only to have that person leave. Even though there may be no one able to fill the breach immediately, the succession plan will ensure that there is a process for you to follow in filling the position.
Starting NOW, is the key to success. Create your SMART goals today!