Click here for Leadership Coaching  Home Page.How good is your succession planning?

 Find out why 40% of leaders in new roles fail.

Many business leaders are too busy to think about succession planning until some kind of crisis comes along that gets their attention. Yet, 40% of leaders in new roles fail to meet expectations.

Succession planning is not easy. Perhaps, that is why over 40% of companies don't have a CEO succession plan in place. Articulating corporate vision to feed succession goals and contingencies is something that can get postponed when we are working "in," rather than "on," our business. But becoming aware of what's needed and getting started early is a good thing to do, especially in uncertain times.

The "how" of succession planning is critical and, generally, requires some outside help to create an action plan to move forward. Here are some typical steps in such a plan:

1. Assess the current corporate culture and determine how it needs to change in the future. This will allow you to develop a set of leadership criteria and development approaches.

2. Assess high potential managers' strengths, weaknesses, and succession readiness.

3. Identify leadership planning gaps and then develop action plans for improving the capabilities of select managers and professionals. Ensure that future leadership practices reflect company values and long term goals.

4. Implement a high-impact custom executive coaching program for the personal development of future leaders. Continue to observe, assess and challenge these key executives to better understand potential advancement options.


Succession planning should be more than a well written binder on the shelf.

According to a September 2001 news release titled "Change Coming Faster than Leaders Can Manage" from The Conference Board of Canada (the premier independent applied research institute in the country), "only two percent of Canadian executives today rate their companies' capacity to provide the leadership needed to implement major change as excellent, down from five percent two years ago".

Succession management can truly transform your company when understood and practiced by your executive team. Our coaching methods teach your executives how to mentor and coach their direct reports and peers. Merely increasing the number of respectful conversations in an organization will increase learning dissemination, collaboration and innovation. Using executive coaching interactions to increase the number of conversations will, over time, increase organizational change velocity faster than any other method.

Is your succession management potential important enough to learn what happens when future leaders are effectively coached and mentored?

Click here for leadership coaching.

Do you want to know more about:

1. How to conduct an organizational analysis?

2. Options for deciding on the criteria for selecting potential leaders?

3. What leadership capabilities might be of importance?

4. How might your company develop a succession management program?

If so, please email or call us at 734.426.2000 (US Eastern Time Zone) for a free telephone consultation today. Find a leadership coach to work with you. Click here for typical coaching plans and costs.

 

Click here for information on mentoring and coaching. Click here for information on Leadership Coach John Agno. Do you need a coach?

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Signature, Inc., PO Box 2086, Ann Arbor, MI 48106 734.426.2000 www.CoachThee.com and www.MENTORINGandCOACHING.com

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