| Accelerate top talent and avoid a crisis with succession planning |
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Getting results quickly requires retention of the best and brightest in your company.
The only way to hang on to good people is to implement a well-thought out succession plan with the same timeframe as your business strategy. Here are some tips:
- Work with the executive group as a team. Identify top talent and construct a succession plan for key positions, sharing insights on how to develop each person.
- Identify gaps in skills, behaviours and experience for those in the succession plan and create programs to eliminate those gaps (challenging assignments, working stints in other functional areas of the business and strategic promotions).
- Hold the executives accountable for the action plans in their areas. They should be devoting as much as 20% of their time to building the leaders of the future.
- Make sure those individuals identified as top talent in the succession plan are told they are being groomed for greater things.
Related book: Succession, Are You Ready? by Marshall Goldsmith. In this concise book, leading executive coach and bestselling author Marshall Goldsmith offers candid advice on succession from the outgoing executive's perspective. From choosing and grooming a successor while sidestepping political minefields, to finally handing over responsibility, Goldsmith walks you through each step in the succession process. |
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Nancy's CEO and Executive Forums are a unique way to get ahead. Meet leaders from other industries and share strategies to accelarate results.
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| How to attract and retain top talent |
 Nancy's book, The Talent Advantage: How to Attract and Retain the Best and the Brightest, offers practical advice and wisdom on how to bring out the best in your people. |
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CEO Coaching - CEO Forums - Leadership Development - Succession Planning - Strategy Development - Team and Board Effectiveness - Keynote Speaking |
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