Organizations recognize that proactive, disciplined succession planning is an important priority for current and future success.
A steady pipeline of effective leaders ready to step up has myriad strategic benefits. It can lead to a stronger organizational culture, a workforce that is better prepared to thrive in dynamic conditions, and greater stability and resilience within the organization.
The focus should be on how to prepare successors, not simply identify them; learning should be emphasized over performance. Organizational environments should combine opportunities for successors to gain experience, exposure, and education.
Firms must consider succession in the context of what leadership roles will look like in the long term rather than building succession plans based on current roles. This will ensure that future leaders are prepared to deal with a world that will differ from the present. It is also important to foster a mindset of constant personal growth so new leadership is prepared for dynamic business environments.
