How to ensure you’re investing in the right people in the right way when it comes to succession

By Sandra Oliver, Impact Founder, and Beth Dewitt, Impact Coach

Many organizations spend a lot of time and money generating lists and assessing potential candidates for succession, only to “miss the mark” or get started too late. We see companies who spend two to three years on succession, unsuccessfully, because they focus on programs rather than developing their people.

In one of Impact’s latest Insights, Navigating the end-of-career transition is tough, we discussed how individuals can plan for the ends of their careers. But what do organizations need to do to ensure they have a positive, successful leadership succession? How far in advance should businesses be thinking about succession and looking for qualified, quality candidates for their top roles? And where should they start?

Recognize the unique humanity of the leaders you invest in

Identifying and developing smart, talented leaders who would be good for and want to take on our most senior roles takes 7 to 10 years. It means we need to find and begin assessing and developing leaders earlier in their careers. When these leaders are in their 30’s or 40’s. When they’re in Senior Manager, Director or new Partner roles.

That’s because succession planning isn’t just about identifying the right skills – it’s about recognizing the unique humanity of the leaders we invest in.

Exceptional leaders are shaped not only by their capabilities, but by their lived experiences, values, and their understanding of the world around them. These leaders bring curiosity, empathy, and a commitment to making the world better. They understand the power of connection, the importance of equity, and the value of listening deeply to diverse perspectives.

The best succession planning strategies cultivate these intangible qualities. They ask: What kind of person do we want leading our organization? What values do we want them to champion? And how can we nurture their growth in ways that align with both their individual potential and the greater good? It’s not about producing a standardized set of leaders, but fostering individuals who will lead with integrity, compassion, and purpose – those who can navigate complexity, make hard decisions, be bold in their ideas, and do so with humanity at the core.

Put people first, before programs

In assessing leaders earlier, we can determine what competencies we need them to develop. And then give them the time to build these skills. All while showing them we care about who they are and who they’ll be.

Our future senior leaders need to see their role is important and that they’re being developed. They need to understand why they’re developing the skills we want them to, and how their unique contributions will fit into the organization’s strategy and view of leadership.

It’s less about checklists, and more a long-term strategy of investing in people. Less leadership development programs that are unconnected and not aimed at succession, and more ensuring we create the right kind of humans to take on our organizations’ most senior roles.

Avoid cliques and popularity contests when selecting succession candidates

Investing in people and building a succession list isn’t about creating an exclusive inner circle or fostering a popularity contest. It’s also not about creating a static list. It requires a thoughtful and inclusive approach to leadership development. One that values potential and contribution, over politics or visibility.

Succession planning must be rooted in fairness, transparency, and a genuine commitment to developing leaders based on their ability to grow, lead with purpose, and inspire others. The focus should remain on identifying those who embody the organization’s values and have the capacity to drive meaningful, long-term impact—ensuring that leadership pathways are accessible, merit-based, and guided by integrity.

True investment is a differentiator

Large-scale partner or leadership programs for 100 to 300 people provide the development leaders need to take on their next roles. Some programs might even help them develop their networks, people or business development skills. These kinds of programs enhance leaders’ operational competencies, not their suitability for succession.

Succession requires a more bespoke, intentional, and targeted approach. It means looking at only the top 5 to 10% of those 100 to 300 future leaders. The ones who will truly be our very best over the next decade.

During the time when they’re taking on their first business unit or practice leader roles.

This is the point at which we want to begin assessing them more deeply. Figure out which individuals will take on different paths and need more personalized attention. And then invest in this group in a very high-touch, white glove way.

We need to ensure each individual develops a personal relationship with a senior mentor who cares about them. Someone who gets to know and is interested in them as a person. Someone who will build a trusted relationship with the succession candidate over the next five to 10 years and really listen to and challenge them. Help them integrate the skills they’re learning in ways that build their senior leadership style, capabilities and vision.

Coaching can help

A combination of one-to-one coaching, group coaching, and targeted development programs can best support succession planning. Individual coaching provides a personalized space for leaders to explore their unique strengths, values, and growth areas, helping them navigate challenges and evolve their leadership style. Group coaching fosters collaboration, shared learning, and deeper connections, enabling leaders to develop systems-thinking and broaden their perspectives. When combined with structured development programs and true mentorship, these investments create a balanced strategy that not only equips leaders with essential skills, but also nurtures the intangible qualities that define exceptional leadership.

Coaching plays a critical role in bridging the gap between technical competencies and the deeper personal transformation required for senior leadership. By integrating these elements, organizations can ensure their succession planning efforts go beyond checklists to create a pipeline of leaders who are not only capable, but also deeply connected to the values and vision of the organization.

At Impact, our Individual, Team, New Partner and High-Potential coaching programs help your very best people develop themselves in alignment with your organization’s strategy. So they can grow with you and become the senior leaders your organization needs for succession. Contact us to learn more.