It’s no secret that executive succession planning is critical to shareholder value and long-term company success, but nearly half of companies today cannot name a successor should the incumbent suddenly depart.
Succession planning is the number one responsibility of the Board. We help Boards minimize leadership transition risks, which can cause enormous economic damage if unchecked.
With business strategy as the foundation, our integrated approach draws upon our expertise in executive assessment, leadership development, and executive search. We help organizations understand their talent gaps, identify high-potential leaders, and implement a process to ensure the right leaders are ready when they are needed. To ensure a long-term leadership pipeline, executive coaching and onboarding solutions make the succession process even more seamless.
In collaboration with our Nonprofit Practice Group, we have expertise helping nonprofit Board leaders and CEOs prepare for planned and emergency CEO transitions. A DHR survey of nonprofit board members and chief executives confirmed that four out of five nonprofit organizations agree that a succession plan is “important” or “very important.” Yet, less than one in five organizations surveyed have a succession plan in place.
Our approach: alignment to make the most impactful decision
Our succession planning approach delivers insight that enables the Board to make well-informed decisions.
Vision, Strategy & Culture
Interview Board members for clarity and alignment around short-term strategy and aspirational culture.
“Ideal” Candidate Profile
Create a position description of the ideal leader for the next 5 years, even if the Board is already happy with incumbent.
Bench Strength Analysis
Demonstrate how internal executives stack up against best-in class external talent.
Frame the succession planning process as a leadership development opportunity to identify, retain and further advance high-potential team members.