"Leadership is lifting a person's vision to higher sights, the raising of a person's performance to a higher standard, the building of a personality beyond its normal limitations." - Peter F. Drucker
In uncertain times and complex, rapidly changing organizations, dusting off the old succession plan, assessing leaders against standardized benchmarks and checking the boxes are insufficient. You need to look forward and build a talent pipeline that is up to the challenges ahead.
We believe that
- Succession planning starts with a deep understanding of the company’s strategy.
- Strategy should directly inform future leadership requirements. For example, when a company is in an early stage acquisitive growth mode, the type of CFO required is often very different than the type of CFO a large public company may need to ensure regulatory compliance or focus on risk management.
- When you are clear on strategy only then is it worthwhile determining the core competencies, experiences and attributes required in key roles that are essential to executing business strategy.
- Building a pipeline of future leaders requires providing targeted development opportunities and clear career paths.
- Helping companies understand the real – and often hidden --staffing implications of their business strategy.
- Precisely determining the core competencies, experiences and attributes required in key roles.
- Using objective third-party leadership assessment tools to identify strengths and development needs of future leaders.
- When required, conducting an analysis of individual performance and potential and mapping individuals to key roles.
- Creating and executing organizational and individual development plans, which may include coaching/mentoring, job/taskforce assignments, formal training or other techniques to raise an employee’s game.
- Creating retention plans for key people.
- Establishing a process and toolkit to conduct ongoing succession planning.
- Key roles are filled with leaders who are well-matched for the opportunities and challenges that lie ahead.
- Stronger business continuity and an improved ability to manage talent-related risk.
- Greater attractiveness to high-performing talent.
- A more robust pipeline of qualified successors retained within the company.