Transition and Succession Planning
Choosing an organizational leader is one of the most important roles for a board of directors and one of the most difficult. Historically, boards have dealt with leadership vacancies by promoting a staff member or immediately beginning to recruit. Yet, executive succession is about more than conducting an executive search and bringing a new executive onboard. It is an opportunity to plan for the organization's future without the pressure of a leadership crisis.
While we all wish for a smooth leadership succession, executive leadership changes are often unplanned and high-risk. Those risks may include a loss of organizational momentum, a decrease in overall morale, a loss of staff, a loss of trust, and a loss of goodwill among stakeholders. On the other hand, a good, well-communicated leadership succession plan will help insure a smooth transition to the next executive – whether the prior executive's departure was planned or unplanned. A good leadership transition and succession plan will be applauded by the board, staff, members, and other stakeholders. It is an opportunity to send a positive message about the organization and its leadership.
TMC works with the board of directors and current executive to develop an executive transition and succession plan, which includes
- Scenarios and succession options for planned and unplanned executive departures
- Key executive competencies needed in an interim or successor candidate
- Identifying potential internal candidates and plan for advancement
- Interim executive management options
- Executive search options
- Communications plan for the public and key stakeholder
- Operational plan and roadmap required for the interim or successor executive