Coaching
Whilst it is imperative for business leaders to have one foot in today to deliver the organisation’s short term objectives, it is equally critical to have one foot in tomorrow to ensure there’s a healthy pipeline of future leaders. Nurturing future leaders creates a competitive advantage for many years ahead; reducing the risk of a down turn in the organisation's future performance. Business coaching targets high performance and improvement at work, and focuses on specific skills and goals, leading to behavioural change in an executive. The Chartered Institute of Personnel and Development (CIPD) recognise that succession planning is time-consuming and complex, and it absorbs expenditure, however they state, “Organisations need to ensure that they continually review and develop their succession plans to meet current and future skills, capability and behavioural needs and to ensure that succession planning is closely aligned with evolving business priorities.” A combination of coaching, which typically lasts for a defined period of time, and longer term mentoring by a more experienced colleague may well support the development of talent within the organisation; providing the platform for a business' succession plan.