Why Leadership Succession Planning is so Important Today
We all know change is constant. Changes in leadership can be very difficult and stressful for any organization, impacting stock valuation to corporate culture. Being prepared for executive retirements or unplanned departures requires an executable succession plan. We all can agree that losing time is losing money and risks corporate capital and reputations.
Leaving an organization without a CEO or CFO can expose vulnerability and reduce confidence in the company’s direction. These ripple effects may cost a company even more than the financial losses. Time is so important with today’s news cycles. The ability of an organization to have a seamless transition in leadership is important to ongoing business results. The transition from one CEO to another is a critical moment in an organization’s history.
Today’s employment market makes the recruitment of leadership more difficult than in years past. Why? The passive candidate pool makes finding the best talent more challenging. The recruiting process has to identify the right talent who are not actively looking for a job in most cases. More than ever, a properly designed and executed succession plan is at the center of any successful transition.
Succession planning is inevitable but with an experienced executive search firm it will be even more effective. Identifying, recruiting and hiring the next CEO will require a thorough, detailed executive search process. Do you have the time, skills and focus to do that? Cowen Partners can lead your efforts to fill your most critical leadership void.
Scott Jacobs, Executive Vice President
Cowen Partners | Executive Search + Consulting
Contact Scott for more information on our succession planning services, phone 360-947-2804.
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