Succession readiness means preparing individuals and organizations for the successful, orderly transition of leadership and management responsibilities. The investment in succession readiness yields the immediate benefits of strengthening your organization while equipping current leaders for planned and unplanned transitions in the future.
For your organization, succession readiness means defining and then taking the steps necessary to insure business continuity. Implementation may involve confirming a strategic plan, drafting a contingency plan, identifying leadership needs, strengthening governance and/or managing conflict.
For current leaders, succession readiness means developing a personal transition plan, reconsidering one's future role in light of personal goals, evaluating timing, and identifying, evaluating and mentoring successors, receiving coaching, and accepting an evolving role in the organization.
For prospective successors, succession readiness means cultivating leadership skills and gaining relevant experience. Implementation often involves individual and team development, including mentoring, a progressive career path, and systematic feedback.
For your culture, succession readiness means acknowledging, "the ways things work around here" and considering how to enable the organization to prepare for and adapt to the inevitable changes resulting from leadership and management transitions. Implementation may involve organizational restructuring, targeted communications and training, or focused team building.