The Dilemma behind Succession Planning
One of the most common leadership development questions that we hear from executives is, “Why does succession planning feel like such a waste of time?” We have worked with CEOs of fortune 500 and owners of smaller companies with less than a 100 employees and everything in between. When we talk, the common concern is the lack of bench strength in their companies. They are very worried that they lack sufficient “just in time” candidates whom can replace planned & unplanned losses of key leaders. As a result, the future continuity and performance of the business is at risk. These same executives also tell us that their companies have been doing succession development and planning for years. There lies the first problem: planning doesn’t equate execution.
The Road to Succession
By working with the executive team, we evaluate what gets measured and what gets rewarded. Leadership development has to be a priority for the company to establish goals and track progress otherwise, it will be difficult to make any succession planning process work. She engages in a partnership with senior executives to establish goals in support of succession planning and ownership toward leadership development.