Plan B – Planning for the Loss of an Essential Leader – Leadership Insights by Liddell Consulting

Over the past year our country (and the world) have been dealing with a new level of unexpected loss.

According to Johns Hopkins University & Medicine, there have been more than 429,000 deaths in the United States from Covid-19. The Centers for Disease Control and Prevention states that approximately 97% of the deaths were people aged 45 and older. People in the 45-65 age bracket, prime age for business leadership, make up 16.4% or almost 59,000 people. Even if your company was not directly impacted, it is easy to imagine companies being forced to handle leadership changes.

The lesson this all has taught us, is that life is fleeting and unpredictable. That’s why we plan and strategize for the future. Your company likely has a succession plan in place, whether formal or informal, but what happens when an essential leader suddenly is lost. You need a Plan B, and it needs to be adaptable.

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“Every managerial employee should have an individual development plan and be held accountable for making progress on it every year.” -David V. Day

How can you possibly plan for what you can’t plan for? Leadership Development. Grow leaders at every level of your company so that you can navigate the unpredictable. Know your bench inside and out so that you can have a plan for any eventuality. Your succession plan should be about building your company into an organization that will thrive into the future.

EFFECTIVE SUCCESSION PLANNING STARTS WITH RESEARCH

• Identify key positions and when they will be available to be filled
• Determine the core skills and competencies required for each position
• Conduct a competency gap analysis for all leaders
• Provide developmental opportunities for all leaders
• Create development plans to address gaps
• Track overall progress and maintain a skills inventory

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