Mission: Succession
When I am working with executives I will often ask, “who will replace you when you move on?” Typical reaction – deer in the headlights. They have no idea. Does it bother them? You bet – once it’s out in the open that their team could, in fact, be leaderless or, worse yet, led by someone who is ill prepared to take on the role, they become increasingly uncomfortable.
Leaders have many responsibilities and among the most important is the responsibility to develop leaders. Not only does this enable individual leaders to succeed, it positions the overall team for success. And, depending on the level of leader, it positions the overall organization for success. So succession planning is really about planning for the future success of the team or organization; not just an exercise to define potential and performance and to put names in boxes, figuring out who is in the coveted northeast corner (high potential/high performance).
How must a leader go about planning for the future success of his or her team?
- Determine time horizon for planning. Most leaders look out 3-5 years. If the leader plans on retiring or transitioning sooner, the time horizon will be shorter.
- Establish the vision for success at this point in time, including key outcomes and measures of success such as growth, profitability, market share increase, product development, etc.
- Identify the leadership competencies necessary to lead the team or organization towards that vision and assess current leadership’s effectiveness in each of these competencies.
- Identify gaps between desired competencies and current competencies for key leaders and establish specific development goals to close the gaps.
- Engage in leadership development – whether individual coaching or development for a cohort of leaders – to support goal achievement.
This process raises the bar and the level of competency for the team as a whole. Once this has been completed, consider undertaking a formal succession planning exercise to specifically identify and cultivate a successor…and rest easier.
Call The Bailey Group, 763-545-5997, to schedule a complimentary consultation on how to plan for your team’s future success.
763-545-5997
Building a Team You Can be Proud to Leave
Mission: Succession
When I am working with executives I will often ask, “who will replace you when you move on?” Typical reaction – deer in the headlights. They have no idea. Does it bother them? You bet – once it’s out in the open that their team could, in fact, be leaderless or, worse yet, led by someone who is ill prepared to take on the role, they become increasingly uncomfortable.
Leaders have many responsibilities and among the most important is the responsibility to develop leaders. Not only does this enable individual leaders to succeed, it positions the overall team for success. And, depending on the level of leader, it positions the overall organization for success. So succession planning is really about planning for the future success of the team or organization; not just an exercise to define potential and performance and to put names in boxes, figuring out who is in the coveted northeast corner (high potential/high performance).
How must a leader go about planning for the future success of his or her team?
This process raises the bar and the level of competency for the team as a whole. Once this has been completed, consider undertaking a formal succession planning exercise to specifically identify and cultivate a successor…and rest easier.
Call The Bailey Group, 763-545-5997, to schedule a complimentary consultation on how to plan for your team’s future success.