What Happens If Your Company Doesn’t Have a Succession Plan

 

Trusting A Company's Ethics

Supportive of Your Organization

In case you haven’t noticed, more and more senior level professionals and execs are exiting.  Many stayed on-board longer than they had planned, but with many businesses doing well the last couple of years, those business leaders and executives decided to “ride the wave”.  But as these business persons saw the sun setting, they are choosing to take their leave.

However, a big portion of these companies across the U.S. have also postponed selecting their successors, much less groomed and trained them for these big chairs.  Like Lily Tomlin and her skit about a little girl in a BIG rocking chair, multiple companies will be finding themselves seeking replacements for these “experienced” execs.  But with short notice and no time for shadowing these exiting leaders, who knows what these new successors will be facing or how they will handle any big problems.

As it is, too many companies are skimping on “leadership training”.  Even more company presidents say, “what will THIS cost me” — instead of “how can we best prepare our leaders to keep us strong and take us into the future?”  Even those business persons, who possess a strong will, are very intelligent, and demonstrate wise strategies, would be better positioned if they had actual experience “dodging bullets” and having numerous innings at bat.

Companies may have been fortunate to have some good leaders in the past, but to drop a less-experienced business person into some uncertain times with the responsibility of a business’ and a workforce’s future at stake, it seems very “irresponsible” of a company’s board.  It would be totally unfair to bring a new leader into a situation without any real preparation.  This would be a recipe for disaster.  From a human resources’ standpoint, as well as a fellow business person’s perspective, any new appointed leader of a company or organization deserves substantial training, coaching, and guidance.  To do otherwise could jeopardize everyone — unnecessarily.

If your organization does plan to replace your leader in the near future, do EVERYONE a favor by providing some practical and responsible leadership training, as well as some possible Executive Coaching as this leader tackles those first 90 days or longer.  Give your new leader every chance to be successful and provide a healthy organization with a bright future.  Compass Career Management Solutions are experts in “transitions”, and this is a big one.  We’re here to help you grow.  Call us today — 704-849-2500.

This entry was posted in Blog, Workforce Solutions and tagged , , , , , , , , , , , . Bookmark the permalink.