Succession and success
24 March 2011Drawing up succession plans is critical to a strong, successful company, whatever its size. Dani Novick, Managing Director of print and packaging specialist Mercury Search and Selection, explains why.
Succession planning is a necessity, but one that is often overlooked with serious consequences. And it is not just the large groups that have to plan ahead; it is the small operations that can be hit just as hard, if not harder, as it is here where the loss of a key member of staff can be truly devastating.
Plans to replace retirees, those getting promoted or a key player that is moving on, must go beyond having staff to step up into their bosses’ shoes.
Business critical staff members are often not the managers but the operators. The best way to develop strength in depth is an active process of cross training and/or job rotation; ensuring employees are multi-skilled and can cover each other’s roles.
Is such action really necessary? A rough risk assessment could be proof enough:
¦ What would happen if the member of staff were to disappear overnight?
¦ Who else can do the job?
¦ Who has the knowledge?
¦ Who has the time?
¦ How long will it take to find a replacement?
¦ How will the business suffer in that period?
¦ What will be the cost?
In terms of middle ranking and senior staff, traditional succession planning can be adopted, with subordinates being groomed for a step up. In such cases, the role of cross training and ensuring peer groups of managers have an understanding of their colleagues’ roles should be considered.
Mercury partners the IOP: The Packaging Society with www.packagingfutures.com and the BPIF with www.jobsinprint.com
Dani Novick