How to quickly a prepare a leader for a senior role (Part 2)

(Part II of a series. In my last article, I described how an organization can prepare itself for leadership transition. Read it here.) 

“The best time to plant a tree is 30 years ago. The next best time is now.” - Anonymous

A CEO called me, “I’m just letting you know, I’m submitting my three-month notice. I’ve found an opportunity that is better for my family.”

I knew that this board loved the CEO and had resisted the idea of succession planning. Perhaps they saw it as somehow being disloyal to the CEO. I don’t know. But the CEO saw something she liked better and was jumping for it.

Another chief executive had lunch with me, “I just wanted to let you know, I’ll be giving the board my one-month notice at the end of spring.”

He told me this in confidence. The organization wasn’t a client. But I knew they had no idea he was leaving with almost no notice. I knew most of the board. It was difficult to watch them make decisions throughout the year assuming that leader was going to be around.

A COO called me in a panic, “Our president was just hit by a truck. He’ll be ok but has a traumatic brain injury. He won’t be allowed to work for months.”

This particular president was brilliant. But he built his organization so that all key information and decisions ran through him. They weren’t able to operate without him.

Today’s lesson – don’t wait to build your leadership bench. (But if you waited, here’s what to do…)

Each of these scenarios was loaded with stress and anxiety. They all created an enormous amount of unanticipated work for boards and staff. All distracted attention from customers and other needs within the organization.

Here’s the lesson: You don’t know when you’ll need to replace a leader. But why wait for an emergency? However inconvenient preparation feels now, it won’t feel any better in an emergency.

All of my examples refer to chief executives. But they apply to any leadership role. Fortunately, there are steps you can take now.

How to quickly prepare a leader – whether you were ready for it or not

As you read through the steps below, I think you’ll appreciate why preparation is helpful. In case it isn’t clear, I’ll indicate which ones can be done in advance. (If you’d like to download a printable version of this click here.)

It’s important to remember that finding a new leader is only part of a succession process. In the big picture, you are shaping the future of the organization. Use the succession planning phase as a stepping stone toward achieving your organization's long-term goals.

Adapt the steps below as needed.

Seven Steps to Prepare a Successor

Pre-Succession Preparation

1. Define Organizational Core Values, Vision, and Key Goals: You must have a firm grasp of the organization's core identity and objectives to determine what is needed in a successor. Verify that the prospective leader's vision and values are in sync with the organization.
2. Appraise the Potential Successor: Pinpoint the successor's existing skill set, competencies, and areas that need enhancement. Resumes and CVs have some, but limited value. 360-degree evaluations, interviews with key stakeholders, and an evaluation of their previous performance are more important. Unlike the stock market – past performance is a good indicator of future performance.
3. Developmental Opportunities: If you have time, create opportunities for the successor to work in various parts of the organization. This cultivates a holistic understanding of business operations. Engage the successor in demanding projects that test their capabilities and prepare them for the complexities of a leadership role.

You can only provide these opportunities if you have time and a potential successor in-house. If your successor is being hired from outside, find someone that needs less development and more orientation.

1. Guidance and Professional Development: The incumbent leader should actively engage in mentoring the successor, offering insights, sharing experiences, and delivering feedback. For a highly skilled successor, this mentorship period might be short. But if you are building your leader, give this time. Also, consider enlisting an external coach to offer unbiased feedback and further skill development.
2. Familiarization with Board and Key Stakeholders: Facilitate regular interactions between the successor and the board of directors, key investors, and other crucial stakeholders (including the management team, major partners, and clients) to build trust and rapport. Enable the successor to showcase their competencies by presenting major projects or strategies to the board or partners.

Succession and after

1. Overlap Your Transition Phase: If feasible, arrange for a short period where both the outgoing and incoming leaders overlap. This approach promotes a seamless transition and provides a buffer for any unexpected challenges. Maintain transparency about the succession plan with the organization. Be very clear in defining the roles and responsibilities of each during the period and how they will evolve up until the transition is complete. This aids in setting clear expectations and minimizes uncertainty among employees and stakeholders.
2. Clarify Expectations and Support Growth: Provide or encourage access to unbiased feedback and other professional growth avenues for the new leader. Establish transparent and quantifiable goals for the new leader regarding performance, budget, authority, and strategy. Eliminate any vagueness to enable the leader to gain momentum swiftly. Regularly monitor progress, address challenges, and respond to queries and concerns. Provide support for the leader to get up to speed.

Every organization and its succession scenario are distinct. Adapt this guide to fit the specific requirements, culture, and challenges of your company.

Take good care,

Christian

#ChristianMuntean, #LeadershipAdvisory, #ExitStrategyService, #ChristianMunteanAdvising, #LeadershipCoaching, #ExitSuccessService, #ChristianMunteanConsulting, #ExecutiveLeadership, #ExitandTeamAdvisory, #ChristianMunteanCoaching

𝗧𝗵𝗲 𝗕𝗲𝘀𝘁 𝗧𝗶𝗺𝗲 𝘁𝗼 𝗖𝗿𝗲𝗮𝘁𝗲 𝗔𝗻 𝗘𝗺𝗲𝗿𝗴𝗲𝗻𝗰𝘆 𝗦𝘂𝗰𝗰𝗲𝘀𝘀𝗶𝗼𝗻 𝗣𝗹𝗮𝗻 𝗶𝘀 𝘽𝙚𝙛𝙤𝙧𝙚 𝗬𝗼𝘂 𝗡𝗲𝗲𝗱 𝗜𝘁.

Be prepared for a smooth transition in the event of an unplanned emergency succession. My guide will show you step-by-step how to devise your own plan.

Download my free guide here.

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