If you don't have the leadership you need, regardless of what else works, you still don't have much. As for a crisis, it might not - as has often been suggested - create leaders but it lets you know about the capability of the ones you have.
The leadership challenge describes a talent management system with a good many moving parts:
- The capacity to attract talent
- The talent acquisition process
- Executive integration
- Performance management
- Leadership development
- Building great teams
- Traditional and tech-enabled teaching/training
- Expediting the organisation's diversity and inclusion goals
And at the centre of that system, the straw that stirs the drink? The organisation's approach to succession. If talent management is the vehicle that supports business longevity, succession - an often misconceived, misaligned and misunderstood process - is its engine. It is a critical investment that you cannot afford to get wrong.
The narrative around succession is, invariably, drawn to big jobs with big companies. The reality is that every poor succession decision destroys value. In family businesses this is especially the case. Unfortunately, the evidence demonstrates that organisations don't exactly excel at succession.
Ultimately, the true measure of a leader isn't what they achieve while in office - it's what they leave behind. That even after the heaviest storm … you can still clearly see their footprints in the sand.
Insights from "It's Time To Rethink Succession".