Talent Assessment
Performance Edge

Here’s a nice article (link at bottom) from the WSJ Careers section on Succession Planning.  They make the point that most senior leaders don’t feel that their organization is well equipped to deal with the sudden loss of a key member of senior leadership.  They point to the recent transition of Tim Cook at Apple taking over day to day responsibilities as Steve Jobs takes medical leave.

The point is well taken.  Many (most?) organizations manage some level of succession planning.  Few, however, manage both the longer term development of internal candidates for those positions while also balancing the “what do we do if someone gets hit by a bread truck tomorrow?” situation.  It’s a difficult balance because the people who are best suited for long versus short term consideration are not always the same.  In terms of emergency promotions, it appears best to title someone as “interm CEO, COO, SVP” etc. This allows the organization to consider the interim candidate along with others, without appearing to promise them the job long term.

WSJ Succession Article