Things Leaders Do

You Don’t Have a Succession Plan. So What Happens When Your Top Performer Leaves?

• Colby Morris

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You Don’t Have a Succession Plan. So What Happens When Your Top Performer Leaves?

Episode Description:
If your top performer walked out tomorrow… would you have someone truly ready to step in? Most organizations wouldn’t—and that’s the problem.

In this episode of Things Leaders Do, Colby Morris pulls back the curtain on why the absence of a real succession plan is one of the most dangerous blind spots in leadership today. And it’s not about building spreadsheets—it’s about building people.

Colby shares a powerful leadership lesson he calls the Michael Jordan Effect, where we mistake performance for leadership potential. He also breaks down a practical, people-first strategy for developing your future leaders—starting with your next one-on-one.

You’ll learn:

  • Why succession planning isn’t about legacy—it’s about readiness
  • How to avoid the trap of promoting the wrong people
  • A 3-layer development plan that aligns employee growth with organizational needs
  • Real-world stats from SHRM and Forbes that will reframe how you prioritize leadership development
  • How to use one-on-ones as your most powerful tool in preparing your team for what’s next

Whether you’re leading a team of 5 or 500, this episode will give you the mindset, structure, and urgency you need to stop winging it—and start planning for sustainable leadership growth.

Ready to develop real leaders inside your organization?
Let’s talk coaching, team training, or booking Colby to speak at your next leadership event.
Visit nxtstepadvisors.com to get started.

Or connect with Colby on LinkedIn at:

https://www.linkedin.com/in/colby-morris/


Speaker 1:

Here's a question for you If someone on your team left tomorrow who would realistically step up and take their place, I don't mean who you hope would step up, I mean who is actually ready to step up today. Look, if that question causes a pit in your stomach, you're not alone. In fact, you're in the majority, and that's exactly why we need to have this conversation. Hello leaders and welcome back to the TLD podcast. I'm Colby Morris and I'm here alongside you in this messy, beautiful work of leading people. Well, today we're diving into something that keeps me up at night, not because it's scary, but because it's so foundational to everything we do as leaders. Yet so many of us are flying blind.

Speaker 1:

Let's start with what succession planning isn't, because I think this is where most of us go sideways. Succession planning isn't a box to check once a year during performance reviews or something like that. It's not a spreadsheet with names next to job titles though I've seen plenty of those usually in a filing cabinet, and it's definitely not something you scramble to figure out after someone gives their two weeks notice. Here's what I've learned after years of watching organizations get this wrong. Succession planning is an ongoing, people-first strategic discipline. It's a mindset that says I'm not just managing today's work, I'm building tomorrow's leaders. Think about it this way when you're gardening, you don't just water the plants that are already blooming right. You're preparing the soil, you're planting seeds, you're nurturing growth that you might not see for months, possibly years. That's what real succession planning looks like, but here's where it gets practical.

Speaker 1:

Real succession planning starts with two fundamental questions that most leaders never ask. One who actually wants to lead, not who you think should lead. And two what do they specifically need to be ready, not just what you think they need to be ready. And that brings us to one of the biggest mistakes I see leaders make. I call this the Michael Jordan effect. And if you've been leading for any length of time effect and if you've been leading for any length of time, you've probably fallen into this trap. Here's how it works. You have someone on your team who's absolutely crushing it. They're your go-to person, your top performer, the one everyone looks up to. So, naturally, when a leadership position opens up, you think they should be the next manager. But here's the thing, and this is where we get it wrong every single time. Being great at the work and being great at leading the work are two completely different skill sets. Look, michael Jordan was arguably the greatest basketball player of all time. In my opinion, the goat. Arguably the greatest basketball player of all time in my opinion, the GOAT. But when he tried to be an owner and make personnel decisions, let's just say his draft record kind of speaks for itself. The skills that made him dominant on the court, his individual excellence, his relentless personal drive, his ability to perform under pressure those didn't automatically translate to developing other players or building team systems.

Speaker 1:

I learned this the hard way. Early in my career I had an employee who was absolutely phenomenal. Month after month she was hitting 100% 150% of her targets. When we needed a sales manager, it seemed like literally a no-brainer. But here's what I didn't do. I never asked her if she actually wanted to manage people. Turns out she loved the thrill of the hunt, the individual competition, the direct relationship with her clients. But management that meant meetings, performance reviews, dealing with other people's problems. Within six months I lost both a great salesperson and gained a frustrated manager.

Speaker 1:

So before you promote your 30-point scorers, ask yourself do they want to coach the team or do they just want to keep scoring? And, more importantly, have you asked them and that question, that kind of insight. That doesn't come from guessing. It comes from something every great leader builds into their rhythm Regular one-on-ones. That's where the rubber really meets the road and it's why I'm so passionate about doing them right. In fact, I have a one-on-one series If you didn't catch just a few weeks back, go back and check those out about how to do your one-on-ones the correct way.

Speaker 1:

Your one-on-ones aren't just status updates or problem-solving sessions. They're intelligence gathering. They're where you discover who your people really are, what they actually want and what's going to motivate them to grow. Here's what I mean by intelligence gathering. You're like what? In every one-on-one, you should be listening for clues. When they talk about their work, what energizes them when they talk about their work? What energizes them? No-transcript. What do they complain about? Sometimes? What frustrates someone reveals what they care about the most. When they describe their ideal day or role. What does that look like? And then, what do they ask you about? Are they curious about your decision-making process or do they want to know about the technical details process? Or do they want to know about the technical details?

Speaker 1:

I remember having a one-on-one with a team member who kept asking me about how I made staffing decisions, how I handled difficult conversations with other departments, how I prioritize competing projects. Those weren't random questions. Those were signals that he was thinking like a leader, not just a contributor. But here's the key you have to create space for these conversations to happen. Naturally, if your one-on-ones are just task management, you're missing the whole point. Try this approach in your next few one-on-ones Instead of starting with your next few one-on-ones, instead of starting with how are your projects going? Try this hey, what's been the most interesting part of your work lately, or what's something you've been thinking about that we haven't talked about? Give them that permission to think beyond their immediate responsibilities. You'll be amazed at what you discover.

Speaker 1:

Now, once you start having these conversations and you identify someone with real leadership potential, here's where most of us drop the ball. We have good intentions, we see the potential and then nothing happens, or worse, we throw them into a leadership role and just hope they figure it out. That's where having a real development plan comes in, not the kind that sits in that filing cabinet, but the kind that actually works. Let me share a quote that completely changed how I think about this. This is from Anne Mulcahy. She was the former CEO of Xerox. She said one of the things we often miss in succession planning is that it should be gradual and thoughtful, with lots of sharing of information and knowledge and perspective, so that it's almost a non-event when it happens. That's the gold standard. Okay, when someone steps into a leadership role, it shouldn't feel like throwing them into the deep end. It should feel like a natural next step in a journey they've been on for months or possibly years.

Speaker 1:

But how do you actually do that? Here's the framework I use. It's a three-layer development plan. Layer one is individual assessment. What are their natural strengths? What gaps do they need to fill? What do they think they need to work on? Now, this is crucial. It's their self-awareness. It's often more accurate than your external assessment.

Speaker 1:

And then layer two organizational requirements. What does the specific role actually require? Now, this would be the role that they're trying to get to, that promotional spot. Okay, what does it actually require? What are the minimum qualifications, the MQs, the experiences, the competencies? What are the unwritten requirements? You know, cultural fit, relationships, institutional knowledge.

Speaker 1:

And then layer three is bridge building. What specific experience can you create to bridge the gap between where they are and where they need to be. What stretch projects can you give, can give them leadership experience? Without the full responsibility? Who else in the organization can mentor them in areas where you're not the expert? And here's the critical part this isn't a document you create once and then just file away. Hear me, this is a living, breathing plan that you revisit every quarter in your one-on-ones. You adjust it as they grow, as organizational needs change, as new opportunities arise. I keep these plans in a simple document that I review before every one-on-one. It reminds me to check in on their development, not just their deliverables. Okay, there are some amazing software options out there as well for succession planning. If you need something like that because your organization is that large, look into them. They work great.

Speaker 1:

Now, speaking of why this matters so much, let me share some numbers that kind of stopped me in my tracks when I first saw them, because if you're still thinking succession planning is a nice-to-have rather than a must-have, these statistics might change your mind. These studies were completed by SHRM, the Authority in Human Resources, and by Forbes. In those studies, it showed that 56% of organizations had no succession plan at all as of 2021. And that 70% of succession plans fell within two years. Why? Because there's no ongoing support. But here's the kicker Companies with formal succession plans see 30% higher retention and significantly better overall returns. Now this is perhaps the most compelling For every $1 invested in leadership development, it returned $7. Now, I'm not usually one to lead with statistics if you've been listening at all for a while. But these numbers tell a story. They tell us that most organizations are flying blind when it comes to developing their people, and the ones that get it right are seeing real, measurable impact. But here's what those numbers don't tell you the human cost of getting this wrong.

Speaker 1:

I've watched talented people leave organizations because they felt like there was no path forward. I've seen teams fall apart when a key leader left and there was no one ready to step up. I've seen organizations lose institutional knowledge, client relationships and their competitive advantage because they treated succession planning like an administrative task instead of a strategic imperative. But I've also seen the opposite. I've watched organizations weather major transitions seamlessly because they had been preparing for months, sometimes even years. I've seen people grow into leadership roles because they never thought possible, because someone invested in their development. I've seen teams get stronger, not weaker, when leadership changes happened. Did you hear me. I've seen them get stronger, not weaker, when those leadership changes happened.

Speaker 1:

The difference? One word Intentionality. Organizations that succeed at succession planning don't leave it to chance, and that intentionality shows up in ways you might not expect. Let me ask you something when was the last time you took a real vacation? Because building your bench isn't just about risk management. It's about creating the kind of leadership depth that actually lets you lead rather than just manage crisis. If you can't do that, your succession planning isn't incomplete. It's non-existent. Building a bench isn't just about preparing for the worst or the worst case scenarios. It's about creating an environment where people can grow, where responsibility is shared, where leadership is distributed throughout the organization.

Speaker 1:

Think about the best leaders you've worked for. I'm willing to bet they were the ones who made you feel capable of more than you thought possible. They were the ones who gave you opportunities to stretch, to fail, to learn, to lead. That's what real succession planning looks like. It's not about protecting your position. It's about multiplying your impact. Here's a practical way to think about it. Every person on your team should have at least one area where they're developing leadership capability. Maybe it's leading a project, or mentoring new hires, or representing the team in some cross-functional meeting or maybe even owning a client relationship. The goal isn't to turn everyone into a manager. The goal is to develop leadership capacity throughout the organization so that when opportunities arise or when challenges hit, you have multiple people who can step up.

Speaker 1:

So here's what I want you to do. I want you to give a specific challenge for this week, something concrete you can start working on before you even finish listening to this episode. Step one I want you to pick one person not three, not five one Someone on your team who you think has leadership potential and who has expressed some interest in growing. And then step two in your next one-on-one, I want you to have this conversation. Start with this I've been thinking about your development and career growth. Can we spend some time talking about where you see yourself headed? And then I want you to ask these specific questions Do you see yourself stepping into more leadership responsibilities? What would that look like to you? What skills or experiences do you think you'd need to have in order to get to that next level, and what's one area where you'd like to develop that would help you grow as a leader?

Speaker 1:

And then, in step three, I want you to create their first development snapshot. I want you to write these things down First, two or three strengths that they bring, and then one or two gaps they need to fill. And then one specific stretch opportunity you could create for them in the next 90 days. And finally, one external resource. It could be a book, it could be a course, a conference, a podcast, a mentor that could help them grow okay. And then, in step four, I want you to schedule a 90-day check-in. Put it on your calendar right now.

Speaker 1:

This isn't optional and that's it. That's how succession planning actually starts. Not with a comprehensive organizational chart, but with one conversation, one person, one development opportunity. Here's what I've learned after years of doing this work. Succession planning isn't about your legacy. It's about preparing others to create their own. Yes, it's strategic, yes, it takes discipline and intentionality, but most of all, it's people-first leadership at its finest.

Speaker 1:

Because when you build leaders, when you invest in developing others who will one day step into roles bigger than they imagined, you're not just protecting your business into roles bigger than they imagined. You're not just protecting your business, you're creating impact that will outlast your tenure, your career, maybe even your lifetime. That's the kind of leadership that matters. That's the kind of leadership that changes lives, that builds organizations, that creates something bigger than any of us could accomplish alone. If you're working on this and you need help whether that's coaching, speaking or training for your organization reach out to me. You can catch me at nextstepadvisorscom. I'd love to help you build leadership that lasts. So until next week, go and develop your leaders, figure out who's next and you know why, because those are the things that leaders do.