A Founder’s Lunch Conversation on Succession
Planning
Manoj had barely settled into his
chair at the quiet corner of the restaurant when he looked up at Srinivasan and
said, “I’ve crossed fifty now… and for the first time, I’m thinking seriously
about what will happen to my company after me.”
Srinivasan smiled. “Good that you’re
looking at it now. Succession planning isn’t about family alone. It’s about
ensuring the enterprise continues with capable hands.”
Manoj nodded thoughtfully. “Exactly.
I’ve built this industry from scratch. It should keep running even if the next
leader is not a family member. But where does one even begin?”
“Start with identifying key
positions,” Srinivasan said while reaching for the menu. “Which roles are
crucial for operations? Which positions hold the company together? Once you map
that, assess the people you already have.”
Manoj laughed softly. “I do have some
bright people… but I’ve never viewed them as future leaders.”
“That’s the shift in mindset,”
Srinivasan replied. “Evaluate their skills, behaviour, and growth potential.
Some may already show leadership traits. Once you spot them, the next step is
deliberate investment.”
“Through training?” Manoj asked.
“Training, mentoring, coaching - anything
that shapes high-potential employees,” Srinivasan said. “Also encourage
cross-training. Let people handle different functions. A broader skill set
makes them better prepared for senior roles.”
Manoj leaned back. “What about
performance evaluation? That plays a big role too, right?”
“Very much,” Srinivasan affirmed. “A
clear and transparent performance management system helps you judge merit
objectively. When people understand how growth decisions are made, they feel
more involved.”
Manoj sighed. “Transparency is always
a sensitive area.”
“True, but it’s essential,” Srinivasan
said. “Communicate openly why succession planning matters. People must see a
future for themselves in the organisation. Some companies even set up a small
succession planning committee; helps bring different perspectives to the
table.”
Manoj took a sip of his coffee. “What
if internal talent isn’t entirely ready?”
“That’s when you look outside as
well,” Srinivasan replied. “A mix of internal grooming and external expertise
keeps the organisation vibrant.”
Manoj nodded slowly. “And knowledge
transfer?”
“That’s non-negotiable,” Srinivasan
said. “Senior employees must share both technical know-how and practical
wisdom. A structured knowledge transfer plan ensures continuity.”
Manoj smiled, visibly lighter. “So
it’s not a one-time task. It’s an ongoing process.”
“Exactly,” Srinivasan said.
“Succession planning must evolve with the company. Review it regularly, refine
roles, and keep strengthening your talent pipeline. Do this right, and your
company will remain strong long after you decide to step back.”
Manoj lifted his glass. “To building
institutions that last.”
Srinivasan returned the smile. “To
continuity and good leadership.”
