Ensure an Effective Leadership Transition

Many businesses think that succession planning is simply about finding a replacement CEO when faced with a crisis or an eminent retirement. Effective succession planning is actually an alignment of a company’s ongoing staff development with its strategic vision.

Proper positioning allows your business to:

  • Pursue the company’s mission and goals as effectively as possible
  • Ensure ongoing stability by developing leadership strength behind its executive and key managers
  • Create the possibility for successors for the company owner
  • Offer the opportunity for top managers to emerge from the talent pool

Service-Based succession planning offers the opportunity to:

  • Develop and replace key management personnel
  • Clarify key positions and the criteria required to fill them
  • Grow a talent pipeline for key staff positions
  • Accelerate leadership growth
  • Provide a value proposition to motivate and retain talent
  • Develop leadership success criteria and practices required to meet business strategies

Strategy Solutions’ succession planning process guides organizations to evaluate their current situation and identify the short and long term leadership needs. This includes looking at the business’s life cycle stage and strategic plan to determine whether an emergency succession plan is in place. This succession plan should cover “who would do what” in the event a key leader could not fulfill their responsibilities. Additionally, it looks at the timing for leadership succession and determines the knowledge, skills and abilities required for new leaders in the future. It also outlines training and development needs as well as potential restructuring opportunities in the event that the CEO’s retirement will likely happen within five years.  Effective succession planning creates an action plan to ensure effective leadership succession.

Contact us at 866-480-8003 or info@getstrategy.com for more information. 

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