It is often said that it is preferable to find and install outside candidates for succession in upper level to executive positions. This sentiment is almost axiomatic when discussing C Suite succession. We keep up with all the cutting-edge research so you don’t have to, and a growing body of evidence suggests that outside CEO succession fails much more often than it succeeds in delivering increased profits and market share.
While we will continue to monitor the research, we know from experience that the issue of insider vs. outsider is in the end, a highly individualized decision that must be based on careful preparation, participation of the right people at the right time, dispassionate assessment and thoughtful on-boarding of the successful candidate.
At the beginning of succession planning, the heart of our process is the development of a future-oriented skills and experience profile for each position with clear metrics that everyone finds useful and reveling. It is against this back drop that dispassionate decision-making occurs. To discuss your succession planning needs, contact Dr. Steve Woods at 301-874-2132 or email him at firstname.lastname@example.org.
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