Succession Management Implementation Guide
Four Key Steps for Executing High-Impact Succession Plans
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By using this toolkit, members will:
- Pinpoint future leadership gaps
- Identify top talent
- Customize high-potential development
- Personalize onboarding for internal hires
Three guiding principles for succession management programs
Hospitals and health care systems will face exceptional departure rates due to impending baby boomer retirements. To minimize the disruptive impact of leadership turnover, HR departments are spearheading organizational efforts to develop succession plans.
Yet even high-performing organizations are struggling to execute a high-impact succession management strategy because of some common misconceptions:
- Succession management differs from leader development
- Not every leader needs a succession plan
- A comprehensive approach is not always the right approach
Four key steps for executing high-impact succession plans
This guide equips members with guidance, resources, and tools to support execution of these steps.
- Pinpoint future leadership gaps. Organization focuses succession planning on those positions with a weak pipeline or job categories that have multiple incumbents retiring within two years.
- Identify top talent. Based on consistent criteria and group vetting process, organization objectively identifies handful of potential successors for critical leadership positions.
- Customize high-potential development. Organization’s HR department employs Center’s “cheat sheet” to assist direct supervisors in selecting the most leveraged development opportunities for a final pool of potential successors.
- Personalize onboarding for internal hires. Organization customizes onboarding plan templates for newly transitioned leaders to provide the necessary knowledge and coaching support for early success.
Read the full toolkit to learn more
HR Investment Center members can download the full toolkit to access implementation instructions and relevant tools for each step in our four-part strategy.