The reality is that we need to have a long-term strategy that is built around how we operate in the environment that we are in, but also one which considers who is going to succeed us when it is time to either move on or create another venture.
If you invest well in your people and have a clear plan for their development you will find that there will come a time when the "apron strings" will need to be cut and they can fly under their own power. The timing of this is critical, because move too early and you risk inexperience causing negative outcomes; move too late and your successor may lose their edge (or worse still leave your business).
That is why a clear timeline and plan is key to having the right people move up at the right time and it is surprising how many businesses do not have this.
The "she'll be right / this is how we have always done it" approach is geared to end in tears for both parties. So, you need to know that your people are ready to make the step up and it is key to have structures and processes in place to make that happen.
But just because your staff have "made the grade" doesn't mean that they then disappear into a vacuum. I strongly favour establishing and maintaining a mentoring type relationship throughout supported by sound and robust training.
We need to get our succession plan right and the businesses which do this will have a longevity which will last well beyond their current leadership and staff. Those that don't are likely to disappear, in much the same way that Chelsea have disappeared from the English Premier League elite.-Balance Consulting is a Whanganui consultancy and also part of the Balance Group. We deliver training and mentoring services in Whanganui and around the North Island. Please call Russell on 021-244-2421 or John Taylor on 027 499 5872 if you are interested in succession planning and development for your key staff.
