04/10/2011 Grow your own
The recent departure of Steve Jobs from Apple has put the spotlight on succession planning once again and has highlighted the importance of companies growing their own leaders to ensure a smooth transition for key roles.
Yet I find it staggering to believe that research shows that only around one in four companies have formal succession planning processes in place. So the real concern for me is that if succession planning isn’t featuring on the corporate agenda, then not enough is being done to manage and develop the next generation of leaders.
As we know all too well, many of the so called baby boomers are nearing retirement and talented individuals who could potentially take up the reins don’t always have the confidence to hit the ground running. Coaching and mentoring can very often provide the vital skills that are needed to help people step up to the next level.
It appears that Apple seems to have managed a smooth leadership transition with former COO Tim Cook taking over as CEO. This success is down to good planning and Apple’s strong focus on talent development through initiatives such as its innovative university. This is perhaps hardly surprising for a company whose success has been borne out of innovation.... but let us not forget that there are plenty of high profile companies that have reacted far too late.
Mapping out the future can’t wait, nor can training for tomorrow’s leaders.
