Most succession planning is a once-a-year exercise that is out of date by the second quarter. Within an annual partnership we do it differently, because we are already in the market for the client's roles and already know the internal people.
The rolling review
Each quarter, the two or three roles most likely to fall vacant in the next year are identified with the CEO or CPO. For each, the named internal candidates are assessed against the role as it will be, and against what the external market would offer. The picture is updated as people develop and as the market moves.
What that produces
When a role opens, the decision is already half made. The Board knows whether there is a credible internal candidate, how they compare with the outside, and what a search would produce. If the internal person is the answer, the appointment can be made in days rather than months. If a search is needed, the brief exists and the map is current.
The development link
The assessment identifies specific gaps against specific roles. That is a development plan, and a much better one than a generic leadership programme. Some clients use it as the basis for the internal candidate's objectives for the year, with a reassessment at the end.
What it costs against the alternative
The alternative is a full succession review when the vacancy arises, under time pressure, followed by a search if the review says so. The rolling version spreads the same work across the year and removes the time pressure. Within a partnership it is part of the scope rather than a separate fee.
The honesty requirement
This only works if the CEO is willing to hear that a favoured internal candidate is not ready, or that an overlooked one is. We report what the evidence says. A partnership where the assessments are expected to confirm existing views is not one we would take on.