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Effective Succession Management

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Why succession management is so important to leadership continuity and future enterprise performance; implementing an effective succession planning process; protecting your organization from the risk …

Why succession management is so important to leadership continuity and future enterprise performance; implementing an effective succession planning process; protecting your organization from the risk of management discontinuity.

Published in: Business, Education

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  • 1. Effective Succession Management Investing in Leadership Continuity and Future Performance www.charlesmore.com
  • 2. Troubling Leadership Transition Statistics46% of executive departures are unplanned 50% of baby-booming senior managers baby booming will reach retirement age in the next five years51% of companies do nothave a succession plan inplace Only 6% of companies have a system y p y in place to build “top-flight” executive teams www.charlesmore.com
  • 3. Why Succession Planning Matters Management succession is one of the most critical strategic risks a corporation faces Failing in leadership transition can be deadly to even the most successful of businessesThe faulty integration of asenior executive can cost acompany 10 to 20 times theexecutive’s salary inopportunity costs 64% of new executives hired from the outside fail; 40% do so within the first 18 months www.charlesmore.com
  • 4. Effective Succession PlanningAssures that leadership continuityplans are in place for all key positionsin an organization… … thereby providing for managed change in organizational leadershipAllows executive leadership to take a pdiscerning look at leadershiprequirements and capabilities, bothnow and into the future… … and build plans of transition, career development and fill gaps of consequence www.charlesmore.com
  • 5. A Model for Effective Succession ManagementCopyright (c) 2012.Charlesmore PartnersInternational. All Rights www.charlesmore.comReserved.
  • 6. Critical DeliverablesCreates a roadmap for executivesuccession and leadershipcontinuityGuides development activities ofkey executivesServes to anticipate and manageissues of responsibilityreadiness/career ambitionAvoids transition problems andpremature promotionsProvides the pipeline ofleadership capability necessary todeliver strategy www.charlesmore.com
  • 7. Key ComponentsKey position requirements now and into requirements,the future, taking account of likelyorganizational architecture shiftsPotential successors (or the lack of) to eachkey executive position, together withdevelopment needs, gap assessments andtimelinesNext move readiness assessments so thatopportunities can be identified ordepartures anticipatedActionable plans to prepare current leadersand high potentials for continuingperformance improvement, capabilitydevelopment and future career opportunity www.charlesmore.com
  • 8. Actionable InsightsSuccession matches. Situations where the timing of a leaders readiness for leaders’new responsibilities coincide with the timing of a successor’s readiness.Incumbent restrained. Situations where a leader is ready for newresponsibilities, but no successor is as yet identified.Succession mismatches. Situations where a leader is ready for newresponsibilities, but no successor is ready.Blocked potential. Situations where a leader is ready for new responsibilities, p y p ,but the incumbent in the next-level position is not ready/likely to move on for2 – 3 years or longer.Valued leader at risk. Situations where more than one successor is identified.TheTh unsuccessful candidate will b at risk of l f l did ill be i k f leaving unless alternatives are i l l ifound.Organization at risk. Situations where no successor is present and correctiveaction is either a priority or simply judicious. www.charlesmore.com
  • 9. Tangible ResultsPuts in place strategies and plans for leadership continuityand successionDefines and personalizes leadership developmental prioritiesand investmentMotivates leadership performance and retentionAnticipates and smoothes leadershiptransitionsMitigates the risk of leadershipdiscontinuityBuilds ongoing leadership andenterprise capabilityStrengthens stakeholder confidence g www.charlesmore.com
  • 10. More Information +1.215.353.6472 ♦ www.charlesmore.com ♦ connect@charlesmore.com www.charlesmore.com