Passing the torch is an ancient tradition with a modern twist.

The origins of the traditional lighting of the torch lies in Ancient Greece where the fire was kept burning throughout the celebration of the ancient Olympics to commemorate the memory of Prometheus, who as Greek mythology would have it, had stolen fire from the Greek God Zeus.

A ceremonial lighting of the torch was performed by eleven vestal virgins in ancient times at the Olympic site by kindling it by the pure rays of the sun, concentrated through a mirror.

This brought to mind the origins of the phrase “the passing of the torch” which signifies the transfer of significant responsibilities and meaningful knowledge from one person to another when it is time for the first one to move on or leave. Metaphorically speaking this also alludes to the ancient Greek torch race, in which one runner passed a lighted torch to the next one until the race was done.

The modern practice of opening and closing the Olympic games with the ceremonial lighting of the torch was made popular only since the 1928 Summer Olympics held at Amsterdam.   They still have a simulation of the ancient practice of lighting the torch in Olympia at the site of the temple of Hera, followed by a torch relay through the host country culminating with the lighting of the flame at the stadium by a national sports celebrity of the hosting country.

The flame never stops burning until the games are over. This light is then extinguished at the closing ceremony which is today for the 2010 Winter Olympics in Vancouver.

 The passing of the torch is a charming way of describing Succession Planning in the corporate world. Let the old give way to the new. Drawing from the metaphor of the ancient lighting of the torch, here are a few tips to consider when planning this strategy.

1.  Identify Long Term Corporate Goals
The Olympic flame represents not only a spirit of competition and struggle, but also of peace and friendship. 
One has to first clearly identify the company’s long-term goals.

To keep the flame burning bright, one has to ensure that that the person relinquishing a position of authority is able and willing to pass on all critical information that will empower the next holder of that position to at least uphold and maintain, if not exceed corporate objectives.

Too often information is withheld, modified or partially handed over making the entire process fraught with mistrust and doomed to failure. One can avoid this if the overall Corporate goals are clearly defined and disseminated across the board.

2. Choose the successors well
To ensure the success of the torch relay strong athletes have to be identified in advance, that know where they are going, what is expected of them , have been well trained , are in superb physical shape and are up to the challenge of seeing the race to completion.

In a corporate context, it is critical  to recruit superior employees, to develop their knowledge, skills and abilities and to polish and prepare them for advancement into more challenging roles. A clear career path has to be discussed with them so that they know where they are going and what they need to learn.

3. Create a Strategic plan
The Athletes running the torch relay know exactly what they have to do, the duration and length of their part of the race, and at which point they have to handover the torch.

A succession plan has to be a critical link in the overall corporate strategic plan.

Every Executive has to be fully aware of and committed to the direction in which the company is going, play an active role in designing hand off points contingent on well defined factors, and the transitions have to be scheduled as part of the overall plan. 

Well prepared successors worthy of running with corporate objectives and seeing them through to completion have to be identified and be ready and waiting in the wings. They would also need to be briefed about the schedule.

A strategic plan is critical to the success of a Succession planning effort. Only then can we win the race and keep the Corporate torches burning brightly!

How are you preparing for Growth and Expansion in your career or your company?