Patrick stares at the empty chairs in his conference room, a stark reminder of the five succession team members who have left his company in the past year. The beautifully framed company values on his wall - “Integrity. Innovation. Customer First. Team Excellence” - seem to mock him now.
“I don’t understand,” he mutters, running his hands through his graying hair. “We’re profitable. We have dozens of employees. Our marketing materials showcase perfect values. Why can’t I keep good people?”
Part of the answer lies in Succession Planning Pitfall #3: Failure to steep your stakeholders in the values that should follow you.
Like many successful entrepreneurs, Patrick has fallen into the trap of creating aspirational values that look good on paper but don’t reflect the real DNA of his business.
The disconnect manifests daily:
While “Customer First” adorns the lobby:
Sales teams are pushed to close deals quickly rather than ensuring the best solution for the customer
Customer service representatives are evaluated on call times rather than resolution quality
Support services are reduced to cut costs, despite customer needs
Long-term customer relationships are sacrificed for quarterly numbers
“Team Excellence” is prominently displayed but:
People celebrate individual achievements, while collaborative efforts remain unnoticed.
Knowledge sharing is discouraged as people hoard information for personal advantage
Collaborative projects suffer and team morale decreases as group achievements go uncelebrated
“Innovation” is celebrated in company presentations, but new ideas die unless they come from Patrick himself:
Employees don’t share new ideas, knowing they won’t be considered
The company misses opportunities for ground-level innovations
Young talent becomes frustrated and seeks environments where their ideas will be valued
Credibility Gap
These disconnects create a credibility gap - a growing divide between what Patrick’s company says it values and what it actually rewards. This gap makes succession planning particularly challenging.
This credibility gap fractures Patrick’s organizational culture, eroding trust, and the company’s future is hostage to him rather than the foundation of authentic, shared values that leaders can embrace and perpetuate.
The Solution: From Wall Art to Living Values
Succession planning pitfall #3, failure to steep your stakeholders in the values that should follow you happens when you are not crystal clear about what those values are.
Patrick’s path forward isn’t to create new aspirational values - it is discovering and embracing the values already driving success within his business.
Patrick has to identify the values that his best employees hold that drive his success.
They are already there.
He has to identify them.
These are the values he really wants in all his company marketing collateral.
As the leader, only Patrick can make this happen.
Following Patrick’s example, here’s how:
Start with Your Stars Using the Entrepreneurial Operating System (EOS)* framework:
Identify your top performers
Document the values they demonstrate daily
Look for patterns in their behavior and decision-making
Distill these observations into 3-5 core values that truly drive success
Make Values Actionable: Transform these identified values from concepts into daily practices:
Hiring: Screen candidates based on value alignment
Promotion: Advance those who exemplify these values
Performance Reviews: Evaluate both results and values adherence
Training: Build development programs around these values
Recognition: Celebrate when these values are demonstrated in action
Lead by Example
Demonstrate these values consistently
Share stories that illustrate these values in action
Address violations of these values promptly and fairly
Create forums for open discussion about values challenges
Build Accountability Systems
Regular values assessment
Peer-to-peer recognition programs
Values-based decision-making frameworks
Regular feedback loops from all stakeholders
Remember: Your company’s values aren’t what you put on the wall; they’re what you put into action every day.
When lived values align with stated values, succession planning becomes less about finding someone to fill your shoes and more about empowering others to walk their own path toward your shared vision.
The Wake-Up Call
According to the Harvard Business Review, 70% of businesses never make it to their second generation of leadership. Don’t let your business become another statistic. Start aligning your lived values with your stated values today.
I believe in Patrick. And you!
Harry T. Jones
*The EOS framework is outlined in the book Traction
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