Tim Robson, a Global Managing Partner at HIEC, discusses three strategic steps for executive succession planning in his recent article for Fast Company.
Unplanned CEO departures can take up to 75.7 days before a replacement CEO is in place. Seventy-five days of ambiguity can shake up your workforce.
Regardless of what necessitated the change, arguably the most tumultuous time for a company is when there’s a significant change to the executive leadership team. Employees at all levels in the organization analyzing the situation may ask: Will the company change as a result? Will they agree with any new strategy change as a result? Will they like the new leader or executive replacement? What will it mean for their careers?
Any company that wants to minimize the risk of disruption and diminished employee motivation, as well as keep the business focused in the days and weeks that follow, needs to consider planning ahead.
Read the full article at: fastcompany.com