“We’ll cross that bridge when it comes…”. Companies don’t always have successors for key employees in view, although it can be very convenient to have a pool of well-prepared individuals to choose from. And there are more reasons why this investment in the future is worthwhile…

“The biggest reason why employees like successor planning is that it offers them career and development opportunities,” says Dr. Monika V. Kronbügel, CEO of Global DiVision, drawing on her discussions with numerous clients and their staff. Around 80 percent of the clients’ vacant management positions are filled in-house. Companies that plan ahead are in a good place, since changeovers generally also mean structural changes and new activities. So it is important for potential candidates to ensure that they are on the same page as the company when it comes to ideas about how the job should be carried in future.

“When digitizing the company,” continues Dr. Monika V. Kronbügel, “it is worth implementing a corresponding tool to map successor planning, as this brings many advantages.” These are:

• Allowing long-serving employees to leave the company with a good feeling.
• Easing any fears successors may have.
• Securing predecessors’ implicit knowledge.
• Providing customers and partners with a feeling of security.
• Reducing the knowledge and know-how drain.

Talk to us about your new successor strategy…