The Forbes Funds Presents: A Roadmap For Succession
The Forbes Funds Presents:A Roadmap for Succession Planning
What aspects of succession planning and leadershipdevelopment are you interested in learning about?How to get the Board involved or define Board rolein succession planning82%71%How to identify potential successors68%How to get ready to do succession planning61%How to create succession plans for all key positionsHow to develop Internal Leaders/potentialsuccessors55%53%How to assess internal leaders/potential successors24%Emergency Succession PlanningOther5%
Succession planning Is NOTIS
3 Types of Succession Includes ExternalHiring and TransitionPlanEmergency orInterimSuccessionPlan
Benefits of Succession Planning Aligns staff development with strategic vision Builds leadership capacity of staff Makes the top position more “doable” Engages and reassures the board Gives confidence to fundersCompass Point
Succession Planning Readiness Checklist Financially sustainable organization Strategic Plan or Priorities in place Board is involved and supportive CEO/ED is involved and supportive Performance Evaluation system inplace for CEO and staff
Board’s RoleKey responsibility of the Board: hire, evaluate andmanage the CEO/ED Board Owns and Leads Succession Plan - especiallywhen it is a defined departure or emergency Make succession planning a strategic goal Conduct a search for a replacement CEO (usually bothinternal and external) Board ensures a smooth Executive Transition byorienting and supporting new ED
Leadership DevelopmentIdentify future goals and challenges (strategic plan)Create model of needs, competencies, skills, experienceIdentify potential successors and assess individual and organizationalgaps to determine developmental needsCreate individual and organizational development plansMeasure frequently and revisit models and plans as environment andpriorities shift
How Leaders DevelopDaring to Lead 2011 Learning on the job: Assignments and projects Challenges and hardships Coaches, mentors, and bosses Peer groups Professional associations Formal trainingNonprofit Leadership Development: Amodel for identifying and growing leaders.Bonner & Obergas
Emergency Succession Planning1.2.3.4.5.Identify critical executive functions andresponsibilitiesName and train a backup for each functionEnsure that key relationships and contacts aredocumentedCreate and update a binder or digital file thatincludes key documents such as strategic/operational plans, annual and monthly calendars oforganizational activities, etc.Create a board approved policy and procedure forEmergency Succession
Defined Departure IssuesWhat are our vulnerabilities with departure ofour ED?Unique skills of the ED Can they be replaced?“Doability” of the ED job?/CompensationManagement Team strength? Internal successor readynow?Consider Merger or Restructuring?Board Steps UpPuts a committee in chargeAttends to its own succession planningSupports the departing executive Healthy closureAddresses agency vulnerabilities and Sets future directionsRecruits & supports a successor who fits the future
Board Leadership in Executive Transition(Compass Point )Departing EDBoardIncoming ED
Where To Start1.2.3.4.5.6.7.8.9.Identify what roles to plan for SuccessionEvaluate readiness for succession planning andleadership developmentEngage board and senior leaders and get buy-in andcommitment. Ensure accountability.Create an Emergency Succession PlanUnderstand Future needs, skills, and competenciesIdentify and assess potential successorsCreate Development Plans to close gaps.Hire leaders externally with an eye on future needsand potential successorsPeriodically assess effectiveness of leadershipdevelopment and succession planning – adjust asneeded.
Contact Us for More InformationLeslie BonnerBonner www.bonner-consulting.comGay FogartyThe Fogarty artygroup.com
Selected ResourcesSuccession Planning Templates and Tools Building Leaderful Organizations: Succession Planning for Nonprofits - Annie E. Casey Foundation Nonprofit Succession Planning Toolkit – Federal Reserve Bank of Kansas City A Succession Readiness Checklist – CompassPoint A self-reflection tool for executives who are questioning whether or not it's time to leave their positions Succession Planning for Nonprofits of All Sizes - Blue Avocado Succession Planning: Creating Sustainable Leadership in Nonprofits Stepping Up, Staying Engaged: Succession Planning and Executive Transition Management for NonprofitBoards of Directors - Annie E. Casey FoundationStrategic Leadership Development Nonprofit Leadership Development: A model for identifying and growing leaders. Bonner & Obergas Three Steps to Understanding Your Nonprofit's Future Leadership Needs - BridgeSpan Plan A: How Successful Nonprofits Develop Their Future Leaders - BridgeSpan Start Finding Tomorrow's Leaders Now - GallupEmergency Succession A sample template to provide guidance on writing an Emergency Succession Plan Emergency Succession Planning TemplateOtherBonner Consulting’s Blog, contains several recent articles on Succession Planning and Leadership DevelopmentDaring To lead 2011
Emergency Succession A sample template to provide guidance on writing an . Emergency Succession Plan Emergency Succession Planning Template . Other . Bonner Consulting’s Blog , contains several recent articles on Succession Plannin
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