The graveyard is filled with important people who could not be missed.
No-one is irreplaceable.
Having said that, it’s prudent to be prepared when important people leave an organization. This is called succession planning: A list of key people, with a plan in case an individual on the list decides to leave.
When important people leave, there are 5 actions you can take.
- Internal promotion to fill the role.
- External hire to fill the role.
- Split the role and divide the pieces among other people in your organization.
- Eliminate the role.
- Outsource the role to an external party.
If the last three actions are viable alternatives, perhaps the role should be changed right now: It may not be the best use of your talented people.
The succession plan is a great high-performance process to accelerate hiring, retaining and developing organizational talent.
Do you have one and is it solid?