Canadian newspaper The Globe and Mail had an article a couple of days ago on succession planning for the CEO role. Most Boards, the article says, are simply unprepared to replace the top executive if a sudden change is necessary. Choosing a successor is a critical decison, both becuase it determines the leadership for the company’s next phase, but also because those passed over may choose to leave for other opportunities or, worse, become demotivated in their current role.
A quote: "Rob Grandy, Korn/Ferry’s Canadian board practice leader, said directors may be neglecting this issue just because they have so many other pressing matters fighting for their time." Time is an important issue at every company, and at every level. Board memebers and managers, especially at larger companies, will simply never be able to keep track of every potential candidate for every potential position. The question alone is mind boggling.
So what then to do?
Imagine a succession planning system where every potential candidate for every role (present AND future) is identifiable with a button-click. Imagine a system where skills, strenghts and past reviews are immediately accessible to help in the decision making process. Imagine a system where succession planning for every position in your company can be thought out in advance, so you’re ready to move when change happens.
Don’t work too hard imagining
