The Forbes Funds Presents: A Roadmap For Succession Planning
The Forbes Funds Presents: A Roadmap for Succession Planning
What aspects of succession planning and leadership development are you interested in learning about? How to get the Board involved or define Board role in succession planning 82% 71% How to identify potential successors 68% How to get ready to do succession planning 61% How to create succession plans for all key positions How to develop Internal Leaders/potential successors 55% 53% How to assess internal leaders/potential successors 24% Emergency Succession Planning Other 5%
Succession planning Is NOT IS
3 Types of Succession Planning Strategic Leader Development Departure Defined Includes External Hiring and Transition Plan Emergency or Interim Succession Plan
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 funders Compass 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 in place for CEO and staff
Board’s Role Key responsibility of the Board: hire, evaluate and manage the CEO/ED Board Owns and Leads Succession Plan - especially when it is a defined departure or emergency Make succession planning a strategic goal Conduct a search for a replacement CEO (usually both internal and external) Board ensures a smooth Executive Transition by orienting and supporting new ED
Leadership Development Identify future goals and challenges (strategic plan) Create model of needs, competencies, skills, experience Identify potential successors and assess individual and organizational gaps to determine developmental needs Create individual and organizational development plans Measure frequently and revisit models and plans as environment and priorities shift
How Leaders Develop Daring to Lead 2011 Learning on the job: Assignments and projects Challenges and hardships Coaches, mentors, and bosses Peer groups Professional associations Formal training Nonprofit Leadership Development: A model for identifying and growing leaders. Bonner & Obergas
Emergency Succession Planning 1. 2. 3. 4. 5. Identify critical executive functions and responsibilities Name and train a backup for each function Ensure that key relationships and contacts are documented Create and update a binder or digital file that includes key documents such as strategic /operational plans, annual and monthly calendars of organizational activities, etc. Create a board approved policy and procedure for Emergency Succession
Defined Departure Issues What are our vulnerabilities with departure of our ED? Unique skills of the ED Can they be replaced? “Doability” of the ED job?/Compensation Management Team strength? Internal successor ready now? Consider Merger or Restructuring? Board Steps Up Puts a committee in charge Attends to its own succession planning Supports the departing executive Healthy closure Addresses agency vulnerabilities and Sets future directions Recruits & supports a successor who fits the future
Board Leadership in Executive Transition (Compass Point ) Departing ED Board Incoming ED
Where To Start 1. 2. 3. 4. 5. 6. 7. 8. 9. Identify what roles to plan for Succession Evaluate readiness for succession planning and leadership development Engage board and senior leaders and get buy-in and commitment. Ensure accountability. Create an Emergency Succession Plan Understand Future needs, skills, and competencies Identify and assess potential successors Create Development Plans to close gaps. Hire leaders externally with an eye on future needs and potential successors Periodically assess effectiveness of leadership development and succession planning – adjust as needed.
Contact Us for More Information Leslie Bonner Bonner Consulting 412-427-7033 Leslie@bonner-consulting.com www.bonner-consulting.com Gay Fogarty The Fogarty Group 412-231-3012 gmf@thefogartygroup.com www.thefogartygroup.com
Selected Resources Succession 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 Nonprofit Boards of Directors - Annie E. Casey Foundation Strategic 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 - Gallup 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 Planning and Leadership Development Daring 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 Planning and Leadership Development Daring To lead 2011
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