![]() Keeping your business running in the face of unforeseen challenges is the most important reason, but succession planning is also about identifying company-wide skills shortages that could be holding back overall organizational growth. If a critical role in your company is vacated, you need to be prepared. Why should you create a succession planning template?Ī detailed study by Deloitte found that "while 86 percent of leaders believe leadership succession planning is an “urgent” or “important” priority, only 14 percent believe they do it well." ![]() Once you're done, you should create action plans for your internal talent to develop their skills. You'll need to find the key competencies required for each business-critical role, and analyze both the performance and potential of the nominated candidates for each role. This template is designed to help you identify and assess high-potential employees in order to fill important leadership roles in the future. Addressing this in a data-driven but empathetic way should include both the current position holder and the internal candidates for succession that will help to create an objective plan for the future of your business.ĭownload the Succession Planning Template in Google Sheets and Excel here. With a good succession planning template in place that simply assesses a few key development areas, you can easily run regular succession evaluations to ensure you're on track with developing your top talent and planning for the future of your business. Partly because as a growing business it's hard to engage committed and driven leaders to consider their replacements, and partly because the succession planning process can feel far more complicated than it really is. However, effective succession planning is one of those areas that everybody knows is important but which very few organizations actually implement. You need to identify and develop your internal talent to fill both the existing critical roles in your company and the new roles that will be required as you grow. Succession planning is all about future-proofing your business.
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