7 Questions to Build the Foundation for Your Company’s Leadership Pipeline

While many recent headlines have focused on the abundance of skills gaps that organizations face today, there is another significant chasm that can often be forgotten about in day-to-day business. Only 35% of companies have a formalized succession planning process, which can leave corporations in a challenging position when leaders leave or circumstances necessitate a shift in direction.  

To close the gap, Human Resources (HR), Organizational Development (OD) and Learning & Development (L&D) professionals can collaborate to build a leadership pipeline to alleviate the challenges of turnover or reorganizations.  

Succession planning can contribute to heightened employee engagement as staff tend to feel more motivated when they believe their employer is concerned about their growth and provides avenues to reach individual career goals. When more people are equipped to direct initiatives, projects can be re-distributed, providing hands-on training and reducing the potential for burnout for time-strapped employees. 

To inspire a holistic approach to succession planning, I invite HR, OD and L&D teams to answer seven questions. 

#1 – What are our leadership needs? 

Consider the existing roles in the business and their relationship to the drivers of the corporation’s growth strategy. Look to the future and think about which functions will continue to be necessary five years from now as well as what positions may be important that are not currently filled.  

Evaluate the skills required for each position and the qualities and qualifications that may be distinct to your business. Exploring the current and future state is likely to indicate how challenging it may be to replace each role should the need arise.  

#2 – Where are the potential succession gaps? 

Spend some time comparing current staff capabilities to the identified demands. Connect with department executives and HR Business Partners to better understand the skillsets within teams and the employees who have the capabilities and interest in taking on more responsibility.  

Be sure to evaluate the broader employee population too. Use skills inventories and review job descriptions to compare existing talents to required competencies. Through thoughtful analysis, talent gaps will likely become apparent, and you will have a stronger sense of which functions may have too little depth. 

#3 – How is potential assessed?  

Different people may have their own interpretations of the descriptor: high potential.  Identify the appropriate meaning for your organization. Beyond specific in-demand aptitudes, considerations may include a passion for the vision, an appetite for constant learning, a commitment to corporate values and/or competence in the behavioral qualities that signal a capacity to positively influence and guide others.  

Additionally, determine how to find potential leaders. You may invite volunteers or ask for recommendations from others in the company (not only current executives). Analyzing performance reviews or assessment results can also inform the process. 

#4 – How will we invest in development? 

On average, corporations realize a 7X return on their investments in leadership development, so it’s well worth the effort to grow employees. Lean into the insights of L&D professionals to define the best methodologies for strengthening leadership skills. Consider what talents the business needs to build and whether those are best managed internally, externally or a combination of both.  

Be mindful of integrating experiential and on-the-job learning opportunities into formal training or coaching. Explore our in-depth review for more insights on creating impactful development programs.   

#5 – What does success look like? 

By measuring progress and outcomes, HR, OD and L&D teams can better optimize succession planning. In addition to long-term benchmarks like promotions secured and the actual succession of individuals, identify short- and mid-term metrics that help reveal whether the initiatives are trending in the right direction. Criteria may include progress through learning programs, reduction in skills gaps or responsibility shifts within teams.  

I also recommend analyzing employee engagement, length of tenure and performance. When staff members engage in learning, they are more likely to stay at the firm and positively impact the employees they work with most. These measures reinforce the true value of investing in a leadership pipeline.  

#6 – How will we encourage buy-in? 

Sometimes, individuals hesitate to talk about succession planning because they do not like to think of their potential departure. However, their support of the process is instrumental to success. Getting insights from today’s leaders about what it means to be successful in your organization can shape your programs. When leaders are bought in, they are more likely to engage with future executives and trailblazers to support their growth.  

Proactively engage their voices in the development of training programs. Try introducing mentorship offerings, featuring leaders in internal master classes and providing tools to help existing executives tag-team important projects with high-potential employees. 

#7 – How do we keep our people? 

While achieving 0% turnover is impossible in the long run, be thoughtful about planning for retention. If immediate promotions are unavailable, motivate staff with different assignments, opportunities to lead committees or projects and ongoing training to support their continued growth.  

Additionally, refer to your metrics from step #5. Even when employees choose to leave, the investment in their development has likely paid for itself in terms of longer tenure, higher employee engagement and improved performance. 

Creating a robust succession pipeline will empower businesses to evolve and be future-ready. With careful attention to the questions above and a commitment to continually optimizing programming, HR, OD and L&D teams will cultivate a high-performing and self-sustaining environment. 

How can Emergenetics improve leadership skills in your organization? Let’s talk about how our tools and workshops can support staff at any level. Learn more here or fill out the form below to speak with a team member today!  

 

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