The fashion world recently lost one of its most iconic designers of all time, Giorgio Armani, at age 91. Maintaining full creative control and working until his final days, Armani was the visionary behind quiet luxury, sleek tailoring, and timeless elegance. A fashion fan or not, creating a multi-billion dollar empire and becoming a household name gives Armani a (cough) bit of credibility as a business mind. And he left us with a far greater way to ensure success than dressing for it.
He answered the question, how does the vision live on when the visionary is no more?
In his final interview, Armani said, “My plans for succession consist of a gradual transition of the responsibilities that I have always handled to those closest to me, such as Leo Dell’Orco, the members of my family and the entire working team. I would like the succession to be organic, not a moment of rupture”.
Armani understood an aspect of leadership and organizational stability that many ignore: succession planning.
We work with a lot of teams, and have seen the impact of lack of planning when inevitably, for one reason or another, a key employee leaves. Creating a gaping hole. Detrimental if left unfilled.
So what does effective succession planning look like in practice?
- Give yourself a long runway
- Identify high-potential, internal prospects early (even at the recruitment phase) and develop them
- Plan for external hires, not all gaps can be filled internally (maybe a “tenured bridge hire”, as coined by Jeanne Lambert)
- Be transparent from the start, build trust, and stay flexible
Succession planning does not mean your value fades while you retain your seat. Armani remained in full control, but accepted and planned for what was inevitable. Don’t be a Miranda Priestly, thinking no one else could possibly do what you do.
So, when’s the last time you reviewed your succession plan?
Until next time,
Your Spherion South Central WI & Northern IL team