succession planning what will your legacy be? nshe june 6, 2013
TRANSCRIPT
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SUCCESSION PLANNINGWhat Will Your Legacy Be?
NSHEJune 6, 2013
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Introduction
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Topics
• How do I make a plan?• What are my options?
• Why does succession planning matter?• 4 things we can all count on.• What is a legacy and what is yours?
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Organizational/C-Suite Buy In
• Without Senior Management support, frustration is inevitable
• Consult with Human Resources: They have the tools
• First, sell the concept
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Candidate Selection
• Identify the prospects
• Share your plan with them
• Prepare for some unexpected responses/reactions
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Mentoring/Coaching
• Assignments/Projects• Frequency• Review experiences & lessons learned• Shift gears when necessary
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Keys to Succession Planning
• Shadowing• Internships• Community • Professional Network
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Assessment Tools
• Skills Assessment
• Selecting for “the fit”
• Leadership Style
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Why Does It Matter?
• The Four Absolutes in life: 1. ALL of us will die eventually 2. MOST of us will retire 3. SOME of us will leave a legacy 4. NONE of us can take it with
us
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“It’s not what you take when you leave this world behind you, it’s what you leave behind you when you go.” Randy Travis - 3 Wooden Crosses
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Choosing the Right Successor
• Why did you choose your profession?
• Great employees do not necessarily make great leaders.
• Can leadership be taught?
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The Statistics Don’t Lie
• Audience poll• 78 million Baby Boomers are turning 65,
at the rate of 1 every 10 seconds.• 3-4 million will turn 65 this year alone• They represent 28% of the US population• The two industries most impacted:
Healthcare & Construction
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Legacy:
“Something handed down from an ancestor or predecessor. A gift.”
What do you want yours to be?
The Servant Leadership Concept
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Closing Thoughts