{"id":116022,"date":"2023-10-23T15:15:00","date_gmt":"2023-10-23T19:15:00","guid":{"rendered":"https:\/\/www.shortform.com\/blog\/?p=116022"},"modified":"2023-10-26T12:16:01","modified_gmt":"2023-10-26T16:16:01","slug":"leadership-succession-planning","status":"publish","type":"post","link":"https:\/\/www.shortform.com\/blog\/leadership-succession-planning\/","title":{"rendered":"Leadership Succession Planning: Best Practices &#038; Principles"},"content":{"rendered":"\n<p>What are the best strategies for <a href=\"https:\/\/www.shortform.com\/blog\/management-succession\/\">leadership succession<\/a> <a href=\"https:\/\/www.shortform.com\/blog\/importance-of-planning-in-business\/\">planning in business<\/a>? How can succession planning keep your business strong long term?<\/p>\n\n\n\n<p>Leadership succession planning involves <a href=\"https:\/\/www.shortform.com\/blog\/new-employee-training\/\">training employees<\/a> to take on leadership positions and focusing on the company mission rather than your own personal direction. To lead a business successfully, you need to plan for its long-term success even after you\u2019re gone.<\/p>\n\n\n\n<p>Learn how to successfully plan for leadership changes and prepare your company for longevity.<\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-continuing-a-company-mission-through-leadership-succession-planning\">Continuing a Company Mission Through Leadership Succession Planning<\/h2>\n\n\n\n<p>Through successful leadership succession planning, your company can continue to have a positive effect on the community after you stop actively participating in it. By achieving this, you connect the company more firmly to its mission and then disconnect yourself\u2014you make the company an independent entity guided by its <em>mission <\/em>rather than your personal direction. This lets the company continue improving people\u2019s lives and being successful in the long term, even after you\u2019re no longer involved in its operations.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>How to Disconnect From Your Company Effectively<\/strong><br><br>Some business experts agree you must disconnect from your company. However, you must prepare for this transition adequately. Low success rates after a founder leaves often occur if <a href=\"https:\/\/www.fastcompany.com\/1763288\/can-your-company-survive-once-founder-leaves\" target=\"_blank\" rel=\"noreferrer noopener\">the company\u2019s brand is too strongly tied to this single individual<\/a>. When the founder leaves, the company struggles to handle the confusion of losing its leader and doesn\u2019t believe that its brand (and, arguably, mission) can continue without them.&nbsp;<br><br>Besides the advice which we cover below, you can improve your company\u2019s odds of survival by encouraging trust and team spirit in the <em>company<\/em> rather than the founder, both among employees and customers. This redirects people\u2019s confidence from you as founder to the entire company: Everyone believes in the company\u2019s brand and ability to survive, so they continue working hard to maintain its success (or, in the case of customers, buying its products).<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-plan-for-leadership-changes\">Plan For Leadership Changes<\/h3>\n\n\n\n<p><strong>Plan how your company will continue its mission after you\u2019re gone.<\/strong> This includes identifying your successors and deciding how the company\u2019s leadership will be structured. It\u2019s important to do this in advance, as unexpected circumstances could force you to leave the company earlier than intended, and your employees will struggle to adapt without a plan in place.<\/p>\n\n\n\n<p>To make this plan, <strong>identify the people who best support your company\u2019s mission and prepare them for a leadership role.<\/strong> Encouraging flexibility is also helpful, so if one employee is promoted to lead the company, the others can take over her responsibilities and keep the company running normally throughout the transition.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Further Tips on Succession Planning<\/strong><br><br>Jim Collins and Jerry Porras emphasize the importance of succession planning in <a href=\"https:\/\/shortform.com\/app\/book\/built-to-last\" target=\"_blank\" rel=\"noreferrer noopener\"><em>Built to Last<\/em><\/a><em>. <\/em>In addition to being prepared for leadership, they say <a href=\"https:\/\/shortform.com\/app\/book\/built-to-last\/chapter-8\" target=\"_blank\" rel=\"noreferrer noopener\">new leaders must be committed to <em>continuing <\/em>the succession plan<\/a>. As soon as a new leader takes over, they should start evaluating candidates to eventually take over from <em>them<\/em>.&nbsp;<br><br>This continuous succession planning creates a \u201cleadership continuity loop,\u201d ensuring that power can smoothly transition from one person to another whenever necessary. In addition, continuous planning would arguably increase flexibility since your employees are already thinking about the future and how they can prepare for it.<br>After identifying people who best support the company\u2019s mission, how do you prepare them for a leadership role? Business experts suggest <br><a href=\"https:\/\/www.inc.com\/adam-robinson\/how-to-prepare-employees-for-future-leadership-roles-before-you-need-them.html\" target=\"_blank\" rel=\"noreferrer noopener\">implementing the following strategies<\/a>:<br><br><strong>1.<\/strong> <strong>Define potential career paths.<\/strong> When employees know their career options, they\u2019ll be more excited and work harder. Make sure they understand the requirements for each level of promotion and that they have the chance to become a leader.<br><strong>2. Offer continuous training. <\/strong>Many companies stop training employees after onboarding, but this means employees aren\u2019t learning important leadership skills. They particularly recommend instituting an open-door policy so employees can approach you with questions about leading.<\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>What are the best strategies for leadership succession planning in business? How can succession planning keep your business strong long term? Leadership succession planning involves training employees to take on leadership positions and focusing on the company mission rather than your own personal direction. To lead a business successfully, you need to plan for its long-term success even after you\u2019re gone. Learn how to successfully plan for leadership changes and prepare your company for longevity.<\/p>\n","protected":false},"author":24,"featured_media":86031,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45,79,14],"tags":[1303],"class_list":["post-116022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-entrepreneurship","category-management","tag-fix-this-next","","tg-column-two"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.3 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Leadership Succession Planning: Best Practices &amp; Principles - Shortform Books<\/title>\n<meta name=\"description\" content=\"What is leadership succession planning? How can you make sure your company will thrive when leadership changes? 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