Ignoring or putting off succession planning for your business because you think there will be time for it later is a great mistake. According to a study by the American Management Association, only 34% of organizations have actually committed themselves to business succession planning. While it can be a bit daunting, even for someone at the top of an organization’s leadership, there are some helpful tips that will aid in laying a solid foundation for succession in virtually any business.

Don’t Wait until Retirement is on the Horizon
Many heads of business would rather imagine their organization going on after they have retired or gone, instead of being sold off. It is best to begin thinking of succession early on, before retirement becomes an immediate issue. Keeping your eyes open and evaluating each employee, no matter how low on the line, will increase your chances of finding a great successor for top positions in the organization. You never know where you might find the people with the highest potential.

Concentrate on More than the ‘Golden Child’
Too many leaders choose only a couple of contenders out of the crowd to train for prospective leadership. But what if something happens and those few who have been trained leave for some reason? It is necessary to cast a wide net when succession planning – it is likely that there are many employees with the organization who have the potential to be great leaders. Evaluate the strengths and weaknesses of many people when deciding who is most appropriate for succession training. Training more than one or two people for succession in the same area will not only give your organization important backup, it will show your confidence in more of your employees.

Think Long-Term
Avoid promising certain future leadership positions to certain employees, but train them in those jobs. Train them in ways that will be appropriate for action in higher positions, not simply advanced methods of the jobs that they are performing currently. Don’t forget to provide opportunities in which they can practice the skills that they are learning. Just as muscles are built when they are used, when new skills are used in real situations, they are stretched and developed, giving the skill-bearer confidence.

Employ Learning Tools
There are many good books out there on training leaders – while these should not be used in place of face-to-face training, they are a nice and informational supplement. Many organizations also have in-house workshops or courses on leadership development. If possible, anyone who is being trained for succession should be enrolled in one of these. When training is under way and seems to be going well, you might even consider assigning those whom you are training to special projects or giving them temporary assignment to another department. This will allow them to try their wings and get a feel for what they might one day be doing for the business.

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