Do you have a plan for each member within your organization? Did you know? Less than one-third of organizations have formal succession plans for all but the very top levels, according to research conducted by Bersin by Deloitte and published in November 2014. Sure, those top-level managers are important, but what if you lost someone on your team who wears many hats? Organizations are embracing a flatter structure (reducing the amount of middle management) and with that, the knowledge that could walk out the door when an employee leaves your organization can be significant.

So how do you go about creating succession plans? Well, Tim Gould gives us 3 key pointers for getting the process jumpstarted!

Step one: Identify Key Positions:
These could be employees/roles who handle key accounts, roles that have a high amount of turnover, employees that contribute heavily to company culture, positions that complete critical tasks to the operation, or employees who have a unique skillset that’s critical to the organization. Think about those roles or employees who hold “all the knowledge” about a certain topic. When this person is on vacation, does everything get put on hold until their return? These are those “critical positions” we’re talking about!

Step two: Conduct a Skillset Analysis:
You need to dig deeper than just the job description, but it’s a good starting point. What are the skills and competencies that must be mastered? Do you have anyone in your organization with some or all of these requirements? Consider the external and internal factors that affect this position and how this position is going to be used in the future.

Step Three: Develop the Plan!
It’s time to implement! Once you’re armed with what needs to be learned, it’s time to start putting the plans in action. Select the employees that have the ability to take on additional responsibility and/or have a skillset in line with the needs of critical position. Create development plans for these employees and ensure time is allotted for the training/job shadowing/etc. Once you start building a “deep bench,” consider re-evaluating your company’s recruiting strategies. Do you post jobs internally prior to posting externally? This is a great way to keep those employees that you have invested in engaged!

I won’t pretend this is going to be easy! It’s going to be a lot of work! The benefits will make the work worthwhile! You won’t have to panic if a critical position turns over and employees will feel challenged and engaged. Succession Planning shows employees that you are interested in their growth and development!