Succession: Are You Ready?

Marshall Goldsmith

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A leader's greatest challenge can be knowing when it's time to step aside. A great deal has been written for corporate boards on the issue of succession planning. But most executives have few resources to help guide them through the process.

How do you start preparing yourself and your successor for your inevitable leadership transition? 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. Done right, your successor can enter to applause while you gracefully bow out and start the next chapter of your life.

What will you learn from this book

  1. Early Preparation for Succession: Start succession planning early. Organizations should identify and develop potential leaders well in advance to ensure a smooth transition when leadership changes occur.

  2. Leadership Development: Invest in leadership development programs to groom future leaders. Offer mentoring, coaching, and training opportunities to prepare them for higher roles.

  3. Talent Assessment and Identification: Conduct thorough talent assessments to identify high-potential employees capable of assuming leadership roles. Use objective criteria to evaluate leadership potential.

  4. Succession as a Strategic Priority: Treat succession planning as a strategic imperative rather than an ad hoc process. Integrate it into the organization's long-term strategic planning.

  5. Open Communication: Encourage open communication about succession plans within the organization. Transparent communication helps manage expectations and reduces uncertainty during leadership transitions.

  6. Create Succession Bench Strength: Develop a pool of potential successors for key positions. Cultivate a talent pipeline to ensure continuity and minimize disruption during transitions.

  7. Leadership Transition Processes: Establish clear and well-defined processes for leadership transitions. Clearly outline roles, responsibilities, and expectations for outgoing and incoming leaders.

  8. Performance Management and Feedback: Provide continuous feedback and performance evaluations to potential successors. Constructive feedback helps individuals understand their strengths and areas for improvement.

  9. Mitigating Risks: Anticipate and mitigate risks associated with leadership transitions. Have contingency plans in place to handle unexpected events or challenges that may arise during succession.

  10. Continuity and Legacy: Ensure that the organizational culture and values remain intact during leadership transitions. Honor the legacy of outgoing leaders while embracing new leadership styles and visions.

Language English
ISBN-10 978-1422118238
ISBN-13 9781422118238
No of pages 130
Font Size Medium
Book Publisher Harvard Business Review Press
Published Date 10 Feb 2009

About Author

Author : Marshall Goldsmith

5 Books

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