A change in leadership can in such cases result in disruptions. Very recently, the one leadership change that got an overwhelming response was Steve Jobs’ resignation.
So strong were the ripples in the market, that suddenly stakeholders and analysts were questioning the future of Apple – the same company that until a week before was making news for being crowned the most valuable company in the world. This brings to the forefront a challenge often faced by companies large and small – are they equipped to deal with a change in leadership? And how can companies ensure that they are prepared?
In his book ‘Good to Great’, Jim Collins touches upon effective succession planning subtly as a key ingredient to a company’s long term success.
While Jim was chiefly talking about the top management, in my opinion this is an aspect that is of utmost significance to employees across all levels.
Yes, the loss of a leader is often a severe blow, but the loss of technical talent can lead to a complete crisis.
Limited talent pools often make it difficult to recruit someone who can quickly adapt to fill the gap; whereas an existing employee, reallocated to the same role, is much quicker to fight the fire.
Hence, succession plans should not be formulated just for top executives in critical roles, such as CEOs, but spread across the entire chain of command.
Ensuring continuity of leadership at any level is a continuous process. Begin by identifying the skills necessary at each role, then internally track talent whose attributes match or come close to those needs, identify the gaps in their skill sets, and finally provide them with the training and resources to move to the next level.
Gaps are not always related to technical knowhow, but may be behavioral or attitude related.
This calls for a holistic mentoring program, sharing the larger vision with each employee and understanding their individual goals. Essentials of such a program would include:
•Individual Development Plans – a structured framework for employees to define and work towards their professional development goals. This leads to employee engagement, fulfillment and enhanced capabilities.
•Encouraging Knowledge Enhancement: Support employees who want to take up various skill-enhancement courses, the tuition costs can be partly borne by the company.
•Bringing in the Experts: Organise sessions with subject matter experts, industry stalwarts, and role models who inspire your employees.
•Build a Repository –Invest in developing an in-house library that can be accessed by employees. Partner with renowned libraries to facilitate access to the latest texts and written resources.
Addressing the individual growth needs of employees is another important facet of mentoring. Employees could be looking for better remuneration, rewards & recognition for jobs well done, or for more job responsibility.
Most professionals want to work with organizations that invest in employees and their potential; they aspire to build careers and rise to leadership roles.
Thus, empowering employees to realize their career aspirations, is probably one of the best ways to ensure that you have the right talent to sustain the team even when a leader moves on.
(The writer is Director HR, Applied Materials India)