If you thought it was easy to replace the top leader in your organization, you are mistaken. It can be like the leading team dropping the baton in an Olympic relay race. Considering these are tough times after the pandemic and the Great Resignation it may have triggered, leaders at all levels should be prepared to adapt at lightning speed.
When shortlisting prospective successors, mentally calculate how quickly your candidates can respond to new trends that the pandemic has hastened that will shape the future. Sustainability is now not just nice to have – it’s as essential to competitive advantage as digital transformation or agility. Prospects on your shortlist should have the ability to nurture talent and ensure that staff have a ‘purpose’ in their work. Some other critical priorities include, quickening operations, and deploying cloud capabilities for enhancing innovation and increasing productivity.
The crux of the current situation
Eighty-six women are promoted to manager for every one hundred men. This poorly calculated decision leaves a dearth of possible women candidates reaching a leadership level. As before, women and minorities are underrepresented on corporate boards. Many minorities feel they will never be considered for the topmost role despite their relevant experience. People want to see women and minorities running companies, but just not theirs.
Keeping the above in mind, you might need to seriously consider succession planning consultants to ensure there is no bias or favoritism that can haunt you for years. As the leader of your organization you have developed skills and expertise that is unmatchable. Your knowledge of the people in your office makes it difficult to give your role to an outsider without full faith in their capabilities. What you don’t need to do is put yourself under further pressure of being a succession planning expert.
Why should we hire an outsider for succession planning?
Leave the critical task of succession planning to consultants that do this on a regular basis and know through their vast experience what works and what doesn’t.
Effective assessment program – Succession planning consultants bring proven strategies which are measurable for pinpointing high-potential candidates using a methodology which is clearly defined. They identify the knowledge, abilities, and skills that need to be developed for prospective leaders. Using a bespoke approach to each client’s needs, consulting firms base their assessments on thorough research and experience to show what a successful leader for a specific client should be.
Unbiased perspective & timeliness - Experienced consultants for succession planning will bring objectivity and they can implement change smoothly and quickly. They will have a clear perspective and know whether the optimal solution in relation to assessing the right candidates or selling the business because of a status quo. Save time and money with a skilled consultant to evaluate operations.
The bottom line
As the top executive in an organization, you might find little time away from many core tasks that are critical and therefore put the longer range task like succession planning on the back burner. In times like these post then pandemic when people are leaving their permanent jobs in large numbers and opting for alternative opportunities, succession planning should not only be for C-level executives.
Everyone should leave an organization knowing their successor will over a period of time understand the business equally well. Involving succession planning consultants when the time is ripe can be critical for the future of your company.
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