When going through the process of developing strategies for CEO transition, the initial phase of ASSESS results in guidance for the organization as it enters transition; and the COMMIT phase is all about setting a course, taking action and building momentum. Combined, this work culminates in a plan that allows the organization to arrive on the other side more prepared.
During the third and final phase – THRIVE – the organization works to realize all the potential and upside of its planning.
Organizations can spend several months and significant resources searching for and interviewing CEO candidates. Yet, once the offer is made and accepted, the CEO on-boarding process typically doesn’t receive the same level of effort and energy as the hiring process itself.
This is a costly mistake.
For the new CEO to thrive, the board must fully focus on creating an on-boarding plan that will help her adjust to the social, cultural and professional components of the role and greatly improve her chances of success.
For the leadership team to thrive, they must work to implement the strategies they selected and measure their progress.
Clarity on the strategic road map through transition allows the organization to accomplish goals, integrate the new CEO and provide day-to-day stability for customers, employees, partners and investors/donors.
ACTION STEPS
Make sure your board stays involved in on-boarding the new CEO and that they never lose sight of the organization’s long-term interests. The leadership team should also evaluate transition progress regularly to determine if mid-course corrections are needed.
However, transition is an inherently bumpy process. So it's no surprise that boards and leadership teams work extra hard to make it as painless as possible by trying to anticipate and bypass those bumps.
Yet sometimes an organization needs to experience a bit of bumpiness to reach its full potential, so allow for that and continue to THRIVE by meeting challenges head-on rather than sneaking by or around them.
Your THRIVE phase should include:
