Question - My organization should have a succession plan for:
•a. The Chairman of the Board and the President
•b. All C-Level Executives
•c. All Managers
•d. Every Key Contributor in the Organization
While a., b., and c. are all correct, and where most companies will find themselves, I'm going to tell you that d. is the best answer. We entered a candidate-driven market that really began around 2007. It was interrupted by the major recession of 2009, and while it may be interrupted by future recessions, the structure of this talent market in the U.S. and much of Europe is set for the next 20 years. Those who embrace megatrends such as this, and work to get in front of them, will prosper far beyond those who are passive.
Think about how organizations typically identify and fill open positions. Passively. They wait for a position to open up, either through growth or because someone left, and then begin a search until someone is hired to fill the opening. How much better would it be to have a proactive plan? Best-practice organizations will have periodic discussions around staffing levels, developing internal talent into leadership roles, and identifying potential top managers....