Succession Planning

In the Career Tools cast about what to do when your boss resigns, Mark talks about the necessity for succession planning in companies and at all levels, not just executives. Business Week published an article this week about Ari Bousbib who is leaving United Technologies to become CEO of IMS Health. In a surprising move, he will continue to consult to UTC on "recently formed joint ventures and business combinations, business development opportunities and customer relationships". Business Week points out that this isn't unprecedented but is unusual.

It might seem like a good solution, to provide a transition arrangement for an employee (whether very senior or not) allowing them to continue to be tapped for their knowledge and expertise. However, there are problems with this solution: firstly, how do you get their attention? Most of us have experienced the draining of our energy when we're trying to learn a new job, and our new employer isn't going to be happy that we need to spend time of the phone to our old one. Secondly, what about the commercial consequences? When we move companies, many of us stay in the same industry and start new relationships with suppliers, customers and competitors based on our new position. How will that be contaminated if we're in both the new and the old camp?

As managers, we need to be prepared for our staff to leave, which means ensuring that if one person leaves suddenly the knowledge they have is not lost. Whether that's cross-training, a team wiki or another solution, start now. We also need to prepare for the day we leave or are promoted. That means delegating until our team can do our job. If you haven't started that yet either, start now.

http://www.businessweek.com/magazine/content/10_36/b4193016891032.htm