- Are you building a leadership pipeline/talent pool to ensure leadership continuity?
- Does your organization develop potential successors in ways that best fit their strengths?
- Do you have a process for identifying the best candidates for categories of positions?
- Per Ernst & Young research, only 54% of companies believe they have a strong pipeline of future leadership talent.
One measure of an organization’s health is the state of its talent pipeline.
Succession Planning and Talent Development
There are some jobs that are the lifeblood of an organization and too critical to be left vacant or filled by any but the best qualified person. Succession planning, effectively done, is critical in these cases and creates an effective process for you to recognize, develop, and retain top leadership talent.
“Companies are simply not doing what it takes to build the next generation of leaders. They have a capable CEO and executive team, but when you look at the leadership bench, it doesn’t exist.” Boris Groysberg – Harvard Business School
Succession Planning is not rocket science, but is definitely a core competency of effective leadership that, in reality, leaders and organizations have always done. The major difference now is that, rather than having a surplus of competent and motivated employees to choose for senior leadership positions, there is a looming deficit of available talent, as baby boomers leave, and the ratio of suitable replacements has not kept pace with growth in industry, business and government. The luxury of “cherry-picking” the “best-of-the-best” from within, or without, is a decreasingly viable option. A comprehensive and substantive development process is the only viable solution that will produce necessary outcomes in Success Planning.
Our Turnkey Succession Planning Program is a viable and proven process, that requires investment and commitment, but it works: five sequential steps to developing and implementing an effective Succession Planning strategy.
Identify your core competencies: required of your leadership team; now, and in the future. This logically includes a thorough review of mission, culture, values, existing leadership competencies at all levels, and required leadership competencies for the future. These competencies will undoubtedly include: capacity for vision, versatility, openness, coaching and mentoring skills, problem-solving, decision-making and communication skills.
Identify and assess star performers for leadership potential: Many organizations mistakenly equate superior technical skills to leadership ability, despite abundant contrary evidence. Develop and implement a formal and substantive process to assess leadership ability and potential.
Create and implement a leadership development program: provide opportunities for continuous growth and development in identified core competencies required of future leaders. Provide coaching and mentoring support, ensuring development is aligned with organizational goals. Make a firm commitment to follow through with resources and support. Substantial evidence supports the contention that meaningful investment in employees, but particularly top performers, will significantly increase retention, other factors being constant.
Set clearly defined goals and provide constructive feedback: establish milestones, monitor progress, reinforce success, provide feedback, coach and mentor. There is no “cookbook” solution here; each individual requires guidance, encouragement, feedback and support.
Evaluate and adjust the leadership development process: succession planning is not a “one of” process. Once initiated, it should be continued, with achievement of one competency followed by raising the “performance bar”, eventually incorporating leader development as an integral part of organization culture and values.
Candidates must be carefully selected and then provided training and development that gives them skills and competencies needed for tomorrow’s business environment. We can help you put the process in place to assure that the individuals who have been identified as “high potential” candidates are the right fit for your succession goals. Together, we will analyze your existing talent, create leadership development and coaching plans that will prepare candidates for when the time is right to execute the succession. To assure a smooth transition is successful; we offer a 6 month coaching program designed specifically to each leader’s specification to assure his or her success during the transition period.
At Turnkey, we simplify succession planning so that you can focus on Developing Your High Potentials and not get bogged down with complicated forms and elaborate processes.
Call us to discuss how we can support you with your success planning and talent development: 281-469-4244.
FAQ
What is succession planning and talent development?
Succession planning is a structured way to build a leadership bench so you never scramble when key people leave.
It’s about identifying, developing, and retaining talent that matters most.
It’s not rocket science — it’s a leadership core competency.
Why should I care about succession planning right now?
Most organizations don’t have a healthy leadership pipeline, and retirements are making that gap urgent.
You can’t wing this anymore.
You need a plan to keep your business steady when change hits.
What does an effective succession planning process do?
It identifies future leaders early, develops them intentionally, and keeps them engaged.
That way, when a role opens, you’re ready instead of reactive.
What are the first steps in building a succession plan?
You define the leadership competencies your organization actually needs.
Then you assess who’s on deck and where the gaps are.
How does talent development tie into succession planning?
Talent development is the engine that turns potential into readiness.
Without it, succession planning is just a wish list.
Can TurnKey help me build and run succession planning?
Yes. TurnKey helps organizations design and implement succession planning and talent development strategies that fit their culture and goals.
How do high-potential programs support succession goals?
They identify and accelerate your strongest emerging leaders.
That creates a ready pool instead of a last-minute search.
Do these programs improve retention?
Yes. When people see a future for themselves, they’re more likely to stay and grow with you.
What kinds of skills or competencies are we talking about?
Leadership fundamentals like communication, decision-making, coaching, adaptability, and strategic thinking. The skills leaders actually need when the pressure’s on.
Our internal teams are stretched — is this worth the investment?
Yes. Succession planning reduces chaos, protects continuity, and saves money over time.
How do I get started with TurnKey’s support?
Start with a conversation. Connect with TurnKey Coaching Solutions.
How do I know this will work for my organization?
The approach is customizable.
It’s built around your strategy, your culture, and your leadership reality.
What happens if I wait?
You risk leadership gaps, slower decisions, disengaged employees, and costly external hires.
Waiting doesn’t make the problem smaller, it just makes it louder.