Developing Your Successor

Whether the issue is preparing a business for sale or enabling the next generation to take over, managers increasingly find themselves wondering where the future leadership for an organization will come from. They may wonder, “When will Jim finally step up and take some leadership around here?” or “Will Susan be willing and able to assume control when I’m ready to retire six years from now?” The more appropriate question is, “When will this manager execute a plan to prepare new leadership to take over this company?” It is ironic that for a leader to find a successor, they must take the lead in developing leaders.

The reasons for employees not pursuing leadership are fairly predictable. These reasons are based on preconceptions regarding their ability to do the job or perceived satisfaction of taking on such a job. The list of reasons can include:

  • Complacency – liking things just the way they are
  • Lack recognition of the key skills necessary for leadership
  • Lack of confidence
  • Intimidated with how the culture treats leaders
  • Do not see incentives for taking on additional responsibility

All of these reasons will require the employee to undergo personal, positive change before they can be ready to lead. For this change to happen in a timely fashion, four elements need to be present in the management culture: Goals, Rewards, Instruction, and Process. To remember them, I refer to them as GRIP; as in “get a grip”.

 

Goals: An effective goal set is multi-dimensional. They address both long and short terms and both tangible and intangible changes. To grow leaders, there needs to be a clear link between organizational and individual goals and management needs to teach members to hold themselves accountable for their goal success.

Rewards: The best rewards are win-win. A win for the company is a reward that gains the desired result without stunting the growth of the company. A win for the employee is being able to achieve the goal and receive a reward that supports a valued, personal goal. Win-win rewards are far more effective than cash rewards.

Instruction: To grow leadership, instruction and coaching need to be available to develop the key soft skills of communication, persuasion, time management, and productivity.

Process: The owner of a small business often personally directs how work is to be done. Businesses take a leap forward when they document roles and process. When members clearly understand how the operation operates, there is hope they will step up and lead the operation.

Many business owners need to undergo their own changes before they can get a GRIP. Change can be sped up with a good guide that understands their challenges. Please talk to me if you would like to explore how I might be able to support the development of your organization.