LSA Global Insights Newsletter: Don't Drop the Baton - 5 Keys to Winning at Succession Planning

11.30.2012

Don't Drop the Baton - 5 Keys to Winning at Succession Planning

Ping...Ping...Ping!

While the sound is barely audible in the stands, it is the most feared sound in relay racing - a dropped baton.
Four years ago at the Beijing Olympics, the United States men's and women's 4x100-meter relay teams both dropped batons.

The failure caused the chief of USA Track & Field to publicly promise a "comprehensive review" of the entire relay program.

Do not let your team drop the baton on the track of your organic talent management efforts.

Runners struggle with the collaboration required in a relay race because their sport is deeply rooted in individuality. Leaders have a similar struggle with the goals of individuals versus the company goals; they must wrestle with matching the aspirations of their top talent with what they know the company will need in the future.

But make no mistake; a well-developed succession planning process pays off. Done right, it increases the attraction, engagement, and retention of high performing employees and improves your ability to execute future strategies and respond to change. An effective succession planning process requires understanding what it will take to make people ready when you need them to step into critical roles.

Successful programs are an important long-term investment: they increase employee tenure, drive higher engagement and productivity, and create the bench strength required to prepare for the turnover and growth likely to occur over the next few years.

Read more about the five guidelines for putting a new succession planning program in place or for breathing life into your existing system....


About LSA Global
Founded in 1995, LSA Global is a leading performance consulting and training firm that helps high growth technology, services, and life-science companies create a competitive advantage by powerfully aligning their culture and talent with their strategy. Learn more about getting aligned