Succession Planning Template

Losing a key team member without a plan in place can stall a small business for weeks or even months. A succession planning template helps you identify critical roles, evaluate who could step into them, and map out the development each person needs to be ready when the time comes.

You do not need a 50-page corporate playbook to do this well. For teams of 1 to 15 people, a straightforward assessment of your most important positions and the people who could fill them is enough to protect your operations.

When to Use This Template

During annual or quarterly planning to review key role coverage
When a critical team member gives notice or announces retirement
After a reorganization that changes reporting lines or responsibilities
When you are building leadership development plans for high-potential employees
As part of a broader workforce planning exercise

Succession planning is not just for executive roles. In a small business, the departure of your only bookkeeper, lead technician, or sales manager can be just as disruptive as losing a founder.

Part 1: Key Position Identification

List every role in your organization where a sudden vacancy would significantly impact operations.

Key Position	Current Holder	Department / Function	Risk Level (High / Medium / Low)	Vacancy Impact
_______________________	_______________________	_______________________	________	_______________________
_______________________	_______________________	_______________________	________	_______________________
_______________________	_______________________	_______________________	________	_______________________
_______________________	_______________________	_______________________	________	_______________________
_______________________	_______________________	_______________________	________	_______________________

Risk Level Definitions:

High — No one else can perform this role today. A vacancy would halt critical operations.
Medium — One or two people have partial knowledge. A vacancy would cause significant delays.
Low — Multiple people could cover this role with minimal disruption.

Part 2: Successor Assessment

For each key position identified above, list potential successors and evaluate their readiness.

Position: _______________________________________

Current Holder: _______________________________________

Potential Successor	Current Role	Readiness Level	Key Strengths	Development Gaps
_______________________	_______________________	Ready Now / 6-12 Months / 1-2 Years	_______________________	_______________________
_______________________	_______________________	Ready Now / 6-12 Months / 1-2 Years	_______________________	_______________________
_______________________	_______________________	Ready Now / 6-12 Months / 1-2 Years	_______________________	_______________________

Readiness Level Definitions:

Ready Now — Could step into the role immediately with minimal support.
6-12 Months — Needs targeted development but has a strong foundation.
1-2 Years — Has potential but requires significant skill building or experience.

If no internal successor exists for a high-risk position, note that the role may require an external hire. Build a relationship with recruiters or document where you would source candidates in an emergency.

Part 3: Development Plan

Create a specific development plan for each identified successor.

Successor Name: _______________________________________

Target Position: _______________________________________

Current Readiness Level: _______________________________________

Target Readiness Date: _______________________________________

Skills and Competencies to Develop

Skill / Competency	Current Proficiency (1-5)	Required Proficiency (1-5)	Gap
_______________________	_____	_____	_____
_______________________	_____	_____	_____
_______________________	_____	_____	_____
_______________________	_____	_____	_____

Development Actions

Action Item	Type	Target Completion	Owner	Status
_______________________	Training / Mentoring / Stretch Assignment / Job Shadow	________	________	Not Started / In Progress / Complete
_______________________	Training / Mentoring / Stretch Assignment / Job Shadow	________	________	Not Started / In Progress / Complete
_______________________	Training / Mentoring / Stretch Assignment / Job Shadow	________	________	Not Started / In Progress / Complete
_______________________	Training / Mentoring / Stretch Assignment / Job Shadow	________	________	Not Started / In Progress / Complete

Part 4: Knowledge Transfer Checklist

For each key position, document what knowledge needs to be transferred and how.

Position: _______________________________________

[ ] Critical processes and workflows documented
[ ] Key vendor and client relationships identified and introduced
[ ] System access and passwords stored securely
[ ] Standard operating procedures written or updated
[ ] Recurring deadlines and calendar items shared
[ ] Institutional knowledge captured (unwritten rules, history, context)
[ ] Emergency contacts and escalation paths documented

Part 5: Succession Plan Summary

Key Position	Primary Successor	Readiness	Backup Successor	Readiness	Next Review Date
_______________________	_______________________	________	_______________________	________	________
_______________________	_______________________	________	_______________________	________	________
_______________________	_______________________	________	_______________________	________	________
_______________________	_______________________	________	_______________________	________	________

Plan Prepared By: _______________________________________

Date: _______________________________________

Next Scheduled Review: _______________________________________

How to Customize This Template

Start with your highest-risk roles. In a small business, this is usually whoever handles finances, your top client relationships, or specialized technical work that only one person knows.
Be honest about readiness levels. Overestimating where someone stands defeats the purpose of the exercise.
Keep development actions specific and time-bound. "Shadow the operations manager during month-end close in Q2" is better than "learn more about operations."
Review quarterly. People grow, roles change, and new hires shift the picture. A succession plan that sits in a drawer is not a plan.
Talk to your team. Let potential successors know you see growth opportunities for them. Succession planning works best when it is transparent.

Pair this succession planning template with regular performance reviews to track development progress and adjust timelines as your team evolves.

Keep Your Team Data Organized

Succession planning requires knowing who is on your team, what they do, and how they are developing. Boring HR makes it simple to track your workforce details in one place, so you always have the information you need when planning for the future.