Despite the acknowledgement by leaders and human resource chiefs that succession planning is a top concern and business imperative, much too little is being done about it, especially now as more Baby Boomers inch toward potential retirement and the recovering economy leads to more mobility of talent. There are several reasons, including inertia and wishful thinking that defections to other employers, deaths or illnesses, early retirements or dissatisfaction won’t happen – at least without sufficient notice. Another reason is fear of rocking the boat and the internal politics likely to arise as the succession planning process proceeds. This can be uncomfortable, disruptive and demoralizing to key players if a carefully considered process isn’t instituted.
From our experience, the important obstacles talked about less frequently in organizations whose practice is to choose successors from internal personnel rather than outside hires are lack of confidence in the potential leaders coming up behind the incumbents – as well as leaders, particularly founders, who are too reluctant to “let go.” This article focuses on finding and preparing successors internally.
Based on our observations with clients and coaching assignments, the roots of expressed lack of confidence in naturally assumed successors may have a number of explanations, often distinct from insufficient professional competence including:
Here are some approaches to use if the potential successor needs more seasoning or the primary obstacle is an inflexible mindset or largely emotional. Factors around “like” and “trust” as well as discomfort with loss of authority and professional identity are often roadblocks. This dilemma suggests at least partly a need for attitude adjustment.