The following points summarize the discussion held on this topic during this CEO Solution Exchange at the 2015 CEO Talent Summit in Dallas, TX, Sept. 30-Oct. 1, 2015:
A critical role for CEOs is to make sure they have the right people in place—people who are aligned with and support the vision of the company. In addition to planning for their own successor, they must have a succession plan in place for key management and leadership positions, as well.
CEO succession
Think of your succession ‘plan’ as managing succession ‘risk’. Consider the ‘3 bus’ situations: CEOs need to plan for being injured by a bus, killed by a bus, or getting on a bus (for business or personal travel).
Manage relocation:
Executive/staff succession
It’s every manager’s responsibility to be aware of staff who under-perform, may be thinking of leaving, may be considering moving out of state or may have moral turpitude potential. There should also be a consideration given to potential unexpected losses such as death of an employee.
In managing talent risk, ask yourself these questions:
Keep millennials engaged:
Access to the CEO and senior leadership is important to millennial employees—be sure they have access to the CEO and management.
Compensation programs:
Sponsored by Board Advisory:
Jeff McCutcheon, Managing Director and Co-founder
956 Elder Lane, Jacksonville, FL 32207
(904) 306-0907, jeff@boardadv.com
Paul McConnell, Managing Director
8703 Bay Hill Blvd., Orlando, FL 32819
(904) 525-8463, paul@boardadv.com
www.board-advisory.com
Innovation isn't just a buzzword or a Silicon Valley patent, but a structured process that…
Webasto Americas’ Tyrone “TJ” Williams leveraged culture-based strategy to rescue supplier’s crucial contract for removable…
In this edition of our Corporate Competitor Podcast, Aflac U.S. President Virgil Miller shares how…
In this edition of our Corporate Competitor Podcast, leadership speaker and storytelling expert Don Yaeger…
Being able to reconfigure our business model often means being willing to blow up something…
Latest Chief Executive survey of Best & Worst States for Business demonstrates upward mobility is…