Years ago, as a committee member of the board of directors for a large organization, I was the Chair of the Succession Planning Committee. In addition to other board members, it was critical for the CEO and senior leadership of the organization to be included in the related meetings. After our first meeting, the CEO pulled me aside and confided in me that he was ashamed to say he was uncomfortable actively planning for his replacement.

His discomfort did not surprise me, as I shared the same feelings during my career’s first succession planning process. However, I also took the opportunity to reinforce that his leadership was invaluable. Specifically, his performance made him recognized as one of the best leaders in his field across the United States.

I asked him a semi-rhetorical question. I said, “Your commitment to the organization’s mission is unwavering, correct?” Without missing a beat, he exclaimed absolutely! I then explained that succession planning would help minimize risks to the organization should he or other vital individuals suddenly leave. I told him I never liked the analogy of, “If one day you are hit by a bus….” So instead, I was known to say, “Just in case I suddenly elope and move to Prague.”

In all seriousness, succession planning is vital to large or small organizations. Many sources cite the benefits of planning for an organization’s future. Below are some advantages of having a sound plan.

Succession Planning Advantages:

  • Skill enhancement of staff members. Specifically, employees will have the opportunity to receive on-the-job training and development.
  • Increase in morale. Staff will feel valued if they are being considered for future promotions. Unfortunately, organizations have the false belief that searching outside of the organization for job candidates is the priority. In doing so, the organization often overlooks “prophets in their land.”
  • Assists with minimal disruptions to the day-to-day operations.
  • Cost control as it relates to recruiting efforts of external candidates.
  • Bolster board members’ and stakeholders’ confidence.

While my list of benefits of succession planning is not exhaustive, the components have served me well in my career. In addition, succession planning templates are available in abundance on the internet.