Succession Planning and Leadership Transition
Succession planning and leadership transition support are critical to an organization’s longevity and vitality, yet many postpone succession planning until there is a crisis.
Succession planning and leadership transition support are critical to an organization’s longevity and vitality, yet many postpone succession planning until there is a crisis as well as miss opportunities to accelerate the early success of new CEOs, senior executives, and board members. This series of insights explores how today’s healthcare organizations can make succession planning and leader transitioning ongoing strategic initiatives.
by Andrew Chastain and Susan Snyder
CEO succession planning is one of a board’s core responsibilities; yet it is often postponed, only to be taken up when transition (driven by retirement or performance) is required. CEO succession planning must be a board imperative. It is a critical strategic activity that boards should prioritize not only because it avoids major disruption when transition occurs, but also because it enables strategic alignment and development now. Given the disruption in our world today, any activity that fosters current and future performance is an absolute necessity.
by Andrew Chastain, Megan Hay, and Susan Snyder
Leadership succession planning is a strategic imperative, especially in tough times. It ensures the retention of institutional knowledge, boosts morale and retention, and mitigates the effects of a sudden or unanticipated vacancy in a mission-critical position. The more compelling argument for strategic leadership succession planning is its inextricable link with strategy. Strategic planning paints a vision and a path toward success; executing a strategic plan requires the right people in the right roles, which is a direct result of strong succession efforts.
by Andrew Chastain and Susan Snyder
Today’s world is simply too complex, unpredictable, and competitive not to have a well-constructed and finely-turned board. Such a board doesn’t just happen. It takes time, thoughtfulness, intentionality, some trial and error, and incremental improvement. While strong board succession is not the end of the journey to a high-performing board, it is an essential component. If skipped, the other steps in the journey are much more difficult.
by Andrew Chastain and Susan Snyder
While all boards take the task of selecting the next CEO seriously, most are unprepared for it. Why aren’t boards more proactive in taking on CEO transition proactively? At root, it can be because leadership changes are messy, involving tough decisions and challenging conversations.
by Andrew Chastain, Laura Orr, and Susan Snyder
The same benefits apply to board member transitions. Strategic, proactive transitioning board member transitioning is vital to getting new members up to speed quickly and facilitating their sustained success. Effectiveness in identifying, cultivating, and integrating new directors is a defining trait of high-performing boards. The key is linking the process to organizational strategy. This article addresses the key stages of board member transition, as well as pitfalls and how they can be avoided and turned into strengths and opportunities. It also provides practical advice for accelerating the impact of new members in an era when boards, like their organizations, must stay sharp and pivot quickly.
by Andrew Chastain, Laura Orr, and Susan Snyder
A new CEO joins a hospital or health system inspired by the mission, energized to build on the organization’s legacy, and ready to shape the future alongside a committed board and staff. Sustaining the CEO’s early enthusiasm and motivation in today’s tumultuous environment requires a well-developed system of governance support and an intentional approach to building and maintaining a strong board–CEO relationship. The board has a vital role in supporting the CEO’s transition into the organization.
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