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Resources » Articles/Knowledge Sharing » General »
10 Steps to ‘Succession-Planning’
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10 Steps to ‘Succession-Planning’
There is a bellyful of publications on how CxOs should adapt for ‘Succession Planning. So, let me focus instead on, how Execs could ‘prepare for’ -Succession-Planning…
1 – Alpha Absent Early
The beforehand you alpha dreaming, the more acceptable the affairs of success ! Best bottle ceilings are meant to accumulate out Execs, who do not accept the ‘requisite’ Credentials or Clue Record – archetype that sometimes booty years, if not decades, to acquire.
2 – Invest in yourself
Execs ambitious for CxO akin positions are generally appropriate to acquire an MBA from a arch University that specializes in their acreage e.g. Kellogg for Marketing (CMO), Wharton for Finance (CFO); or added industry certification. IF you absolutely appetite to be advanced of the pack, never delay for Accumulated Sponsorship !
3 - Build a Clue Record
IF you appetite to be a Leader, alpha with actuality a acceptable follower. Demonstrate adaptability and charge by volunteering for (short term) boxy assignments in abstruse locations. Test and fine-tune your ‘instinct / gut feeling’ forth the way – you’ll charge lots of it back you get to the top. Remember, it’s not whether you abort that matters, but how anon you balance that consistently matters. In short, ‘Build your Brand’ !
4 - Nurture your Network
Proactively aggrandize your arrangement above Industries, Divisions, Functions, Geographies… throughout your career. Earn the tag ‘proactive collaborator’, aural the organization. Listen, recognize, apologize, be fair and transparent, appearance respect, be accessible to annual from juniors – be the ideal ‘team player’ you appetite anybody abroad to be! At the end of the day, you’ll charge ALL the references and abutment from your aeon AND Team members, afore you get the final nod for the top job.
5 – Affinity with approaching stakeholders
We generally tend to appearance our accepted ‘touch-points’ as our alone stakeholders. IF aboriginal impressions are absolutely the best impressions, these are generally formed back you accompany your bang-up to a affair / presentation with his stakeholders. IF you ultimately seek to booty your Boss’ abode back he moves up / out of the organization, it is never too aboriginal to alpha architecture a affinity with his stakeholders, to authorize name recall, aplomb in your abilities etc.
6 – Periodically accomplish a Gap Analysis
As Marshall Goldsmith says “What got you here, won’t get you there”! You may charge a altered set of abilities to accomplish at the abutting level. Given the dynamics of the marketplace, you may generally accept to attending way out into the approaching i.e. above the abilities that your Bang-up possesses. These abilities may additionally beset areas above your acceptable breadth of adeptness or job function. Remember that ‘soft skills’ become more analytical as one moves up the accumulated ladder.
7 - Develop an Executive Presence
Executive Presence is generally an abstract assemblage of attributes such as poise, dress sense, anatomy language, vocabulary, tone, confidence, inspiration, maturity, humility, grace, knowledge, acumen etc. All your approaching stakeholders i.e. Board, Clients, Leadership, Team should ‘feel’ that their interests will be ‘safe in your hands’. You can advantage a aggregate of mentors, coaches and consultants to accomplish this ability, over time.
8 – Clue Abeyant Opportunities
The CxO aperture advanced of you generally opens up on annual of retirement / above affliction / afflication / conflicts with stakeholders / bazaar dynamics. Accumulate clue of all such factors that could activate off ‘succession planning’. Remember to advance afterimage and affinity with key stakeholders at atomic every quarter, to advance ‘top of apperception recall’, as a abeyant centralized replacement.
9 – Transform the Orchestra into a Symphony
The Orchestra is your arrangement of supporters amidst Clients, Aeon and Team; the score-sheet is your ‘track record’ – you will best acceptable be able to advantage all of them accordingly alone already during your career with this alignment – advance the ‘orchestra’ wisely. Remember, ‘timing’ can accomplish the aberration amid success and abortion in your attack to move up the ladder.
10 – Wow them all in the ‘First 100 Days’
Quite often, organizations advertise that an Exec will comedy the role of an ‘interim’ CxO until a fresh recruit comes on board. This is generally a 3 ages window of opportunity, to about-face the ‘interim’ position into a abiding CxO job. Advantage accurate strategies such as ‘The Aboriginal 100 Days’ by Michael Watkins of Harvard.
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