Job Termination
Succession plans lacking: Survey"Hope for the best and prepare for the worst," the old adage advises, but according to a recent survey, many executives may be doing more hoping than preparing. Nearly four out of 10 (39%) advertising and marketing executives surveyed feel uncertain that someone in their company could fill their shoes if they had to suddenly leave their positions. |
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 [ 2007-05-09 ] |
© 2007 Jupiterimages Corporation.
The poll includes 250 responses -- 125 advertising executives and 125 senior marketing executives. It was conducted by an independent research firm and developed by The Creative Group, a specialized staffing service providing marketing, advertising, creative and web professionals on a project basis.
"Succession planning is a lot like disaster planning -- people know they should do it, but it's easy to let it slip through the cracks," said Dave Willmer, executive director of The Creative Group.
Unlike disaster planning, however, a formal succession program has benefits that extend beyond crisis management, Willmer noted. "Companies that create structured succession programs and provide leadership training help their employees grow professionally, which can boost loyalty and productivity."
The Creative Group offers these tips for developing an effective succession strategy:
- Start early. It can take time to identify and groom a promising candidate for a leadership role, so begin the process early. Even if you doubt you'll need a replacement anytime soon, preparing someone to assume your duties creates a safety net should you have to leave your post, either short term or indefinitely.
- Keep an open mind. While the obvious successor may be the "second in command," don't overlook other promising employees. Identify the skills necessary to excel in the role; then consider candidates who show the greatest potential for acquiring them.
- Share the vision. Include prospective managers in strategy discussions to help them acquire planning and leadership skills as well as a broad vision of the company and its goals.
- Make it ongoing. Provide regular feedback to proteges so they can continue to progress and meet expectations. Offering perks or promotions is also important in keeping top employees engaged and committed to their career paths within the company.
- Take a trial run. Your vacation is a good time to have a potential successor assume your responsibilities. The employee will gain experience while you learn how prepared the person is to take on a greater role.
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