Succession Planning takes years… Do you have a succession plan?
There is an unstated need to invest in people capability to make them future ready, to engage and retain them. CXOs today carry more pressure to perform quickly and justify boards, shareholders and even investors trust and credibility especially during the downturn.
This translates into a number of executives in their late thirties and early forties who hold board level roles. While chasing the matrix, P&L and analytics, the bigger ask is– are you grooming and investing on your successor? Someone who can think and act with the same agility and responsiveness?
And that’s the reason why companies need to tilt the balance towards identifying and grooming “Level 5 executives”. With succession planning, you can identify the leadership gaps. With some mentoring and interventions, you can help develop effective and successful leaders. And by giving them the right opportunities, organizations assess which employees are ready for leadership transitions early in their careers.
Our Point of View
We start the leadership succession journey by aligning with organization’s board on the company's current and future transformational needs. This helps define the CXO role which in turn helps us build a leadership success profile.
We then help you build a compelling internal pipeline of senior, high potential leaders. We then use the leadership success profile to build a readiness model for each individual. This methodolgy builds a strong leadership with support for the selected successors.
Throughout the process we work hand-in-hand with the board of directors and CEO. We develop clear and practical succession plans. Plans that enable executives to transform their leadership strengths for their current roles into what the organization expects from them in the next 18 – 36 months.