Stacey Shapiro
Appearances
Redefiners
Leadership Lounge: The Art of Succession: How to Identify Tomorrow's Leaders Today
I think first and foremost, transparency around the process is critical and making sure that individuals who are in the process feel well informed about any process that they're going to be part of. And ultimately, once a decision is made that the candidates also have a degree of transparency involved.
Redefiners
Leadership Lounge: The Art of Succession: How to Identify Tomorrow's Leaders Today
into how the decision was made and certainly receive feedback, both in the context of the successful candidate and transparent feedback for the individual who is not successful. And I think a great example of this, we recently did a CEO succession for an organization. There were two internal candidates One, of course, ultimately was successful and was named the CEO.
Redefiners
Leadership Lounge: The Art of Succession: How to Identify Tomorrow's Leaders Today
For the individual who was not successful, what the organization did was be very clear with that individual about their development opportunities and the gaps to fill, ultimately providing an expanded role that really served to help that individual fill those gaps in terms of their experience.
Redefiners
Leadership Lounge: The Art of Succession: How to Identify Tomorrow's Leaders Today
This had the benefit of, one, making that individual feel well informed about the process, supported in their development. And the organization retained this individual for about two years.
Redefiners
Leadership Lounge: The Art of Succession: How to Identify Tomorrow's Leaders Today
I think this really requires a leader to redefine what success will look like for them. It's an important mindset shift for a leader to go from a career which has really been based on their own merits and their success has been based on what they individually have been able to accomplish. And this shift really becomes...
Redefiners
Leadership Lounge: The Art of Succession: How to Identify Tomorrow's Leaders Today
defining that success will be on the basis of what they're able to get done through a team and enabling the success of those around them. I think recognizing that in many of these situations, the CEO may be at the end of their career. They may not be moving on to another executive role. And so in those situations, it's particularly emotional.
Redefiners
Leadership Lounge: The Art of Succession: How to Identify Tomorrow's Leaders Today
And I think there's an added degree of sensitivity that is required there.
Redefiners
Leadership Lounge: The Art of Succession: How to Identify Tomorrow's Leaders Today
Thanks, Emma. It's a great question right now as we see particular periods of ambiguity and uncertainty. And I think an important reminder is that role profiles are dynamic. And so thinking about annually refreshing what good looks like from a senior leader standpoint.
Redefiners
Leadership Lounge: The Art of Succession: How to Identify Tomorrow's Leaders Today
the qualities that are likely to predict success based on the macroeconomic factors, internal factors, strategy, culture, are going to evolve across time. And so I think the other piece from a succession planning standpoint is that it's human nature to want to quickly converge on one or two top candidates, those individuals that a leader thinks are best prepared.
Redefiners
Leadership Lounge: The Art of Succession: How to Identify Tomorrow's Leaders Today
But keeping those pipelines broad is really enables an organization to be well-prepared in the event that the environment shifts. We see oftentimes an organization that thinks they need a commercial leader, but because of shifts in the macroeconomic environment, they realize after six months or 12 months that actually what they need is a much more operationally oriented leader.
Redefiners
Leadership Lounge: The Art of Succession: How to Identify Tomorrow's Leaders Today
And so to the extent that pipelines are robust and broad, it enables more stability across time.