When I talk to business managers, one of the things I ask is how they're managing the attrition in the workforce. Amazingly, the responses I get seem to blur the line between planning for succession, and planning for replacing lost talent.
So in the spirit of trying to clarify how these are different, I'd like to summarize each of these two, distinct kinds of plans:
Succession Plans
• Long-term: 12-36 months
• Focus on future leadership
• Develops leaders capable of filling multiple assignments
Replacement Plans
• Short term: 0-12 months
• Focus on immediate needs
• Develops back-up staff for key positions
• Long-term: 12-36 months
• Focus on future leadership
• Develops leaders capable of filling multiple assignments
Replacement Plans
• Short term: 0-12 months
• Focus on immediate needs
• Develops back-up staff for key positions
Additionally, I need to clarify that when we speak of succession, we're not talking about ownership transition planning, which we'll cover in a seperate discussion, which is a whole different amimal.
