Key Verse:2 Timothy 2:2, “Pass on what you heard from me – the whole congregation saying Amen! – to reliable leaders who are competent to teach others.” (MSG)

Succession planning helps a company to deal with the problem of succession in business. Most businesses and organisations have this common problem of how to manage succession. Succession Planning is a cultural problem in Nigeria and that is why it is difficult to find organisations that are 100 years old. Succession planning is a process to develop new leaders and keep existing talents in the pipeline. It ensures that the organisation is prepared for the future and increases the capacity of existing employees. Succession planning is not about moving employees into management or leadership roles, but instead helping employees develop the tools and skills required to manage and lead should an opportunity present itself.

Succession planning helps organisations to avoid key person dependency risk that most businesses face today. Key persons are the individuals who play a pivotal role in your day-to-day operations, decision-making, and the overall success of your business. Key person dependency risk is the risk a business faces when it relies too much on a small number of people for critical operations of the business.

This can lead to negative consequences if those key people leave or become unavailable, such as: operational disruptions, loss of expertise, financial setbacks, and Stagnated innovation and growth. The loss of such a key person would dramatically impact your business because you had grown to be so reliant on them. The main risk of depending on just one person is that if that person becomes unavailable, those tasks cannot be delegated to anyone else in the company. Again, a person can become too entrenched in his or her role and be unwilling to try new approaches or challenge the status quo. As a result, this over-reliance can stagnate innovation and growth within your company.

2 Samuel Chapter 21 is a typical example on how to manage succession in a company. There was a battle between the Philistines and Israel. David went down with his men to fight against the Philistines, and he became exhausted. And Ishbi-Benob, a Philistine Soldier wanted to take advantage of the King David apparent weakness to kill him. But Abishai son of Zeruiah came to David’s rescue; and struck Ishbi-Benob down and killed him. Then David’s men swore to him, saying, “Never again will you go out with us to battle, so that the lamp of Israel will not be extinguished.” Dr. Sam Iheanacho said, “If you don’t raise people, your works will disappear with you.” If David had not intentionally raised new leaders, which Abishai was one of them, that battle would have taken his life. Thank God for Abishai (the New Leader). We must intentionally raise new leaders (Abishai) to take over from the Davids (Leading Leaders). A great leader reproduces himself through his team. Leaders train people who will take over from them and continue the work from where they stopped.
Training people and developing new talents at the work place is a sure way to eliminate key person dependency risk. We should learn how to delegate roles to others and remove silos that tie key employees to their desks, making it impossible for them to move into a different role or take a vacation. Teach your team what you know and let them run with it. This can help staff members grow into new roles and invest more in the business. Identify, which employees have critical information that no one else has, and find a way to pass that information on if they leave. Develop an action plan for developing future candidates, so that they will be able to fill in vacant roles when transitions occur.
• Today’s Nugget: Everyone needs an Abishai, Phone: 07032361509. E-mail: [email protected] Coach & Strategist