October 29, 2014
Successful succession plans vary a bit by company, but certain characteristics always stay the same. Succession plans that truly work:
- Receive visible support from the CEO and top management
- Are owned by line management and supported by staff
- Are simple and tailored to unique organizational needs
- Are flexible and linked with strategic business plans
- Evolve from a thorough human resources review process
- Are based upon well-developed competencies and objective assessment of candidates
- Incorporate employee input
- Are part of a broader management-development effort
- Include plans for developmental job assignments
- Are integrated with other human resources systems
- Emphasize accountability and follow-up.
SOURCE: A review of succession planning literature included in "Succession Planning," by Lorrina J. Eastman. (Published by the Center for Creative Leadership, Greensboro, North Carolina.)
Personnel Journal, September 1996, Vol. 75, No. 9, p. 44.