Leaders who do not plan for their direct reports' future are planning to fail for the organization's long-term success. Ensure your company's succession planning is building a bridge to a bright future.

1. Value expertise over experience.

Someone who can continually transform their knowledge and skills into real value can be significantly different than someone who has many years of experience and isn't improving. Don't confuse the two.

2. Create your succession ecosystem.

Design a one-page visual depiction of the roles, knowledge, skills, activities, and people within the business units. Use a hub-and-spoke graphic to illustrate gaps and points of connection.

3. Upgrade continuously.

Throughout the year—versus only during the annual performance review period—look for opportunities to upgrade talent in your organization's difference-maker roles.

4. Regularly score performance.

Identify two or three key behaviors for each role and score candidates monthly on their performance with evergreen feedback.

5. Project the future.

Determine what a role's capabilities will require three years from now and assess and develop candidates with an eye toward future success.