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Daring to Depart: Executive Succession Planning Strategies. PNAIS Institutional Leadership Conference October 26, 2008 Nancy R. Axelrod Governance Consultant Founding President, BoardSource. Goals of the Session. - PowerPoint PPT Presentation
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1
Daring to Depart: Executive Succession
Planning Strategies
PNAIS Institutional Leadership ConferenceOctober 26, 2008
Nancy R. Axelrod
Governance ConsultantFounding President, BoardSource
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Goals of the Session
Review results of latest research on executive transitions/succession planning challenges & opportunities.
Review practical steps that the Head and the Board can take for successful succession planning.
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Chief executive leadership transitions are:
Investments in the future Not always expected Often neglected, poorly planned, and/or
executed Not amenable to one size fits all approaches Dependent on collaborative planning by the
board and head
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Succession Planning Vs. Executive Search
SP ≠ executive search or grooming an heir. SP is an ongoing process rather than an
intermittent event. SP begins at the time that the new Head is
selected. SP is not a linear process.
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Daring to Lead 2006: Highlights of a National Study of Executive Leadership
Executives plan to leave their jobs – but not the nonprofit sector – within five years.
Boards of directors contribute to executive burnout.
Concerned with organizational sustainability, executives seek new skills and strategies.
Bench strength, diversity, and competitive compensation are critical factors in finding future leaders.
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Why is executive succession planning neglected?
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Succession Planning Readiness Assessment
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Succession Planning Tools
What can I do as Head to ensure that our school has an effective succession plan?
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Key Succession Planning Steps for the Head
Take responsibility for the board. Build a “leaderful” organization. Grow organizational infrastructure/capacity. Ask for help.
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Live in the question: Am I still the right person for this job?
Engage in career planning. Help the board develop an emergency
leadership transition plan.
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Succession Planning Tools
What can the Board do to ensure that our school has an effective succession plan?
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Key Succession Planning Steps for the Board
• Take responsibility for the board.• Create climate for executive leadership &
support/Actively monitor Head’s job satisfaction.• Insist on adequate salary and benefits for the
Head.• Conduct board, Head, & institutional
assessments.• Develop ELT plan.• Discuss succession planning.
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Dimensions of the ELT Plan
Communication and notification Financial oversight Legal counsel Acting/Interim management Executive search
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What steps will we take to ensure adequate succession planning?
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Helpful resources on chief executive succession planning
Chief Executive Succession Planning: The Board’s Role in Securing Your Organization’s Future, by Nancy R. Axelrod. Published by BoardSource: www.boardsource.org
Board Newsletter: www.boardcafe.org
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“While chief executive departures are often unexpected, executive leadership transitions are inevitable.”
Source: Chief Executive Succession Planning: The Board’s Role in Securing Your Organization’s Future, by Nancy R. Axelrod: BoardSource 2002.