PASSING THE TORCH

With tongue in cheek, people say, “Be nice to your children. They will choose your nursing home.” Last year my parents moved into the North Shore Retirement Hotel. The hardest part may have been convincing my father to give up his car. I’m now participating in their finances, their medical decisions, their transportation and their social life – areas of my life they used to control! I’d love to give them a curfew, but they’re asleep before a “reasonable hour.” We’re transitioning.

One of my favorite organizations is in a quandary about finding a successor for their founding father. Succession is a touchy, yet crucial issue for any organization. CEO succession planning has largely been driven by the CEO. Having someone to step into an important vacancy is a critical juncture for organizations and today Boards of Directors are much more involved in what may be the most important decision of their tenure. They must determine whether the assets and aspirations of current staff match the future needs of the organization or whether they will have to look elsewhere.

A new leader may be right in the family. Succession savvy non-profits focus on developing talent, not just on replacing it, by involving those who are participants and candidates. Board members ought to insist upon meaningful interface with key staff members so they can get to know them better for future CEO succession-planning purposes. Board meetings are an opportune time for upper-level executives to make presentations on various aspects of organizational business. It helps to insure that top staff be invited to events held in conjunction with board meetings throughout the year because such interaction offers a distinctly different observation than presenting to a board meeting.

In Choose Tomorrow's Leaders Today, Robert Fulmer of Pepperdine’s Graziadio Graduate School of Business and Management says, “…effective succession management is a journey, not a destination.” Aging of Baby Boom leadership puts succession planning at the top of the agenda these days! Don’t let it catch your organization by surprise!