How important is succession planning? Its now part of many firms' business continuity management aka disaster recovery plans. In almost every facet of life, one needs to think about will whatever I'm doing stop when am not there? Some of this is also about securing your legacy if you have one. Its good career management. It a form of risk management. Its good business as it ensures a firm stays dynamic rather forever changing philosophy as it acquires new CEOs.
When done well, it can mean a stress-free pre-vacation and post-vacation period in a workplace. Imagine how smooth transition in Kenya's politics would be if we had leaders who felt secure enough to create many successors.
Many find difficult to do.
- Its especially difficult to do where the role has no routine for example being a CEO or a president. You can however get peeps to deputise for you or even just be by being an effective role model.
- In other areas, you many not want anybody to know everything that you do for example the front office of an investment bank or commission based roles. Here you may have your clients and with the motto being there is no"i" in team, succession planning tends to be put to the back burner. To combat this some companies will have what they call principal and associate roles where there is the guy who gets the clients and the one who does the follow-up and in effect has to as much about the client.
- Insecurity about your job, your perofmance will lead to questions like, won't so and so take over my job/role if I teach them how to do it?