No Bull Business Blog

Succession planning: You can't afford NOT to do it

Excerpted from the Executive Report: Succession Planning – How Small to Mid-sized Businesses Can Do It, Too.

Succession planning had always been something big companies did to prepare for when the CEO left.

Not any more.

Due mostly to a mobile and rapidly changing workforce, companies of all sizes are realizing the importance of mapping out a plan for the eventual replacement of key managers and key employees at all levels.

What can a good succession plan accomplish?

It’ll strengthen your talent pool. The process of identifying high (and low) performers and possible gaps in your employees’ skillsets gives companies an opportunity to make adjustments before they’re left in the lurch when a key team member departs.

You’ll make better use of the talent you’ve got. By definition, succession planning includes an employee development component. That means companies can allow workers to stretch their skills, increase their earning power and likely strengthen their commitment to sticking around.

No fat to tide you over

Why has succession planning become so essential?

Years ago, many companies had an extra layer of fat at the managerial level, so bosses had more time to train and coach. Employees planned on sticking around – perhaps their entire careers.

There was a greater familiarity between the rank-and-file and management, and the work being done. Managers observed employees grow and develop over the years. When positions opened, they were more familiar with which employees were ready to step in.

Today is an era of job hopping, staff consolidation and downsizing. Organizations are lean.

It’s a lot tougher for managers to give individuals much-needed personal coaching – first, they have a lot less time, and second, you never know if people will stick around long enough to make it worthwhile.

Since most compensation structures are now based on production, a lot of supervisors see themselves more and more as project managers and less and less as people managers.

The end result: Not all managers really know what their employees might be capable of achieving, they only know what they’re capable of doing right now.

DIGGING DEEPER
Every company needs to do succession planning. But where do you start? To find out, read the Executive Report: Succession Planning – How Small to Mid-sized Businesses Can Do It, Too.

This person is a new manager’s biggest challenge

Excerpted from the ManageElite training module: 9 Mistakes New Managers Make

It’s important that new managers develop their leadership style, but how they handle this one group of employees will determine their success.

So what kind of people tend to give new managers their biggest challenge?

• Dumb people?
• Average people?
• Smart people?

Smart people. They’re the biggest challenge.

Good managers know better than to spend a lot of time on dumb people. Average people are your worker bees. They may test your communication skills, but give them clear instructions and let them do their thing. It will pay off.

But new managers tend to view smart people as competitors, rather than the assets they really are.

Here’s a secret. All people are not created equal. Some are smarter and more talented than others. Some are even smarter and more talented than YOU.

The best managers have simply accepted that reality and use it to their advantage by finding ways for people with the most potential to shine the brightest.

A manager who treats each and every employee as just another cog in the wheel is guaranteed to get the performance of a cog in the wheel.

But a manager who gives good people room to develop and grow will get a lot more out of those people. No manager can know everything, so get the most out of your smart people – and you’ll both grow.

DIGGING DEEPER
One of the great leadership qualities is the ability to let others do their jobs. The manager who isn’t afraid to turn his or her best people loose will have greater success. To get help for you and your managers, check out the ManageElite training web site.

ManageElite: Great new tool for training managers

Most managers get little to no training. Yet they need it as much or more as anyone on the staff. Biggest problem? Getting the time to train. And it’s always expensive. Here's a new product that is extraordinarily affordable (only $37 a month for unlimited use) and fits every manager's schedule.

A new product called ManageElite just launched and it’s perfect for getting managers the training they need. It’s online and the training modules are short – only 10 to 20 minutes long. And it is interactive. Plus, it’s real practical stuff and many of the modules have real-life scenarios that require the manager to make choices.

And managers can do the training right at their desks – at any time. Even on weekends when they are at home.

There are also other interactive pieces and PDF handouts in many cases.

The modules cover everything from Handling Difficult Conversations to Interviewing job applicants to doing Performance Review. Plus, there are modules on those tricky compliance issues like Sexual Harassment, Workplace Bias and Retaliation.

But one of the best points, is that it really affordable. ManageElite's charter subscription is only $37 a month, though the cost will eventually go up. But charter subscribers will lock in at $37.

Check out the site at ManageEliteTraining.com