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5 Tips for Easy Executive Succession Planning

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Creating an executive succession plan doesn’t have to be so difficult. We've included five tips to guide you towards your executive succession plan.

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5 Tips for Easy Executive Succession Planning

  1. 1. Governance for Lunch Webinar Series 2018 Governance for Lunch Webinar Series 2018 5 Tips for an Easy Executive Succession Plan June 19, 2018 12:00-12:30 PM EST
  2. 2. Governance for Lunch Webinar Series 20182 Housekeeping  Webinar lasts 30 minutes  Session is being recorded (phone lines are muted)  Slides/recording will be emailed to you  Send us your questions via Q&A or Chat in GoToWebinar  Please complete the post- webinar survey – we’ll send you the link
  3. 3. Governance for Lunch Webinar Series 2018 Governance for Lunch Webinar Series 2018 Welcome: Wendy Deming, COO/Corporate Secretary, GCCF
  4. 4. Governance for Lunch Webinar Series 20184 VP/Governance Technology Evangelist Dottie Schindlinger  Member of BoardEffect’s founding team  20+ years in governance roles  Frequent governance presenter: Independent Sector, ASAE, LeadingAge, AHA, CUES, and AGB  Author, media commentator, blog contributor for Forbes, WSJ, Corporate Board Member, Trustee, Trusteeship & more
  5. 5. Governance for Lunch Webinar Series 2018 5 Tips for Executive Succession Planning 5 1 Make planning a priority 2 Map out the path & vision 3 Engage current ED & senior leaders 4 Cultivate rising talent & fill gaps 5 Monitor & improve the process
  6. 6. Governance for Lunch Webinar Series 2018 Nonprofit EDs who plan to leave within 5 years Nonprofits with a written succession plan in place Nonprofit EDs who had a performance review last year 6 Why should Executive Succession Planning Be a Priority? 67% 17% 45% 33% EDs “very confident” their board will hire the right successor Data from 2011 Daring to Lead Report 1
  7. 7. Governance for Lunch Webinar Series 2018 Board of Trustees Ultimately responsible for hiring, retaining, supporting, compensating & evaluating the nonprofit’s ED Executive Director ED’s role includes identifying & cultivating a talent pipeline, spearheading succession plans, and being held accountable Senior Leaders Help the ED identify rising talent & opportunities for growth, professional development, and retention strategies 7 Who Should Be Involved in Succession Planning? Shared Accountability Ensuring the long-term sustainability of the organization is something the full organization shares in; talent development should be incentivized, monitored and evaluated regularly 1
  8. 8. Governance for Lunch Webinar Series 2018 Don’t put it off! Committee (e.g., Governance, HR, Executive, Compensation) cam organize the process Create contingencies for different kinds of transitions: – Planned departure (e.g. retirement, merger) – Unexpected departure (e.g. health crisis, move, resignation) – Termination 8 Make Time to Plan1
  9. 9. Governance for Lunch Webinar Series 20189 Map Your Leadership Vision: What kind of leadership team is required to achieve your strategic priorities over the next 3-5 years? 2
  10. 10. Governance for Lunch Webinar Series 2018 1. Are we clear on our organization’s strategic priorities – a.k.a. our “north star”? 2. What decisions are critical to our success, and are we clear on who makes them? 3. Who’s responsible to achieve our priorities, and does our structure enable success? 4. Do we have the right people in the right roles with the right goals/incentives to achieve success? 5. Have we defined the processes/tools to enable our team to be effective? 10 5 Key Questions re: Leadership Development 2 Adapted from The Bridgespan Group’s “The Effective Organization”
  11. 11. Governance for Lunch Webinar Series 2018 Engage the Current ED Make succession planning part of the ED’s job description Include questions about succession planning on the ED’s annual performance evaluation Request regular updates from the ED on talent pipeline development Provide ongoing support to the ED – coaching, peer-networking, prof. dev. 11 3
  12. 12. Governance for Lunch Webinar Series 2018 Seek the ED’s feedback on how the org.: – Provides leadership opp’s for rising stars – leading teams, making presentations, etc. – Provides professional development opportunities across the team – Sets goals, tracks progress & rewards success Hold ED accountable as “recruiter in chief” Partner with ED to help fill talent gaps 12 Cultivate rising talent & fill any gaps4
  13. 13. Governance for Lunch Webinar Series 2018  Include success measures in the plan  Report on progress at every board meeting  Use tech tools: – Online plan templates – Anonymous ED performance review questionnaires – Committee progress reports – Candid, anonymous feedback from HR & rising talent – Secure channel for ED to connect & receive support 13 Monitor/Improve the Process5
  14. 14. Governance for Lunch Webinar Series 201814 It’s a marathon, not a sprint. Patience, persistence & repetition rules. Apply what you’ve learned right away.
  15. 15. Governance for Lunch Webinar Series 201815 Learn More! Visit the GovTechGeek page on the BoardEffect website for more resources! boardeffect.com/GovTechGeek
  16. 16. Governance for Lunch Webinar Series 2018 Governance for Lunch Webinar Series 2018 Q&A – What’s On Your Mind?
  17. 17. Governance for Lunch Webinar Series 2018 Contact Me! 17 @GovTechGeek linkedin.com/in/GovTechGeek slideshare.net/BoardEffect boardeffect.com/blog
  18. 18. Governance for Lunch Webinar Series 201818 (866) 672-2666 info@boardeffect.com Boardeffect.com 1515 N. Courthouse Road, Suite 210 Arlington, VA 22201 US Contact Us
  19. 19. Governance for Lunch Webinar Series 2018 Governance for Lunch Webinar Series 2018 Thank you!

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