Ever wondered why there are only a handful of companies that are always on top of the “food-chain”? Have you ever considered succession planning to be a fundamental part that ensures the stability of your business? Recently, we came across an article touching upon the problem every entrepreneur will eventually have to face. When time is due, who is going to assume the leadership of your company and keep your legacy alive?
Taking into consideration that business is always evolving and some CEOs, senior leaders or even department heads are nearing retirement, a great leader must always take this issue into consideration. Leaders must not see this as a way out, but rather have a contingency plan if something were to happen to them. So if you haven’t thought about it by now, it’s high time to do so. When drawing up a list of potential candidates, you should take into consideration a multitude of factors such as their technical knowledge and the business acumen. Also, you should take into account the leadership skills and values that one needs to take the company into the future. Your replacement should also have vision and initiative to inspire your workforce and make them want to become leaders of their own. A suitable replacement should be a young “player” that steps up and faces all challenges that arise.
This is one of those cases in which true leaders will differentiate themselves from the ordinary ones. Even though this process should be seen as a challenge, you should approach it with a tremendous level of confidence so that, in the future, you will not regret the choice you’ve made. It was often believed among organizations that very few people are born to be leaders however, recent studies discovered that most of us can become leaders. But, before you decide who is going to be the next great leader, you need to ensure you build and mold a group of leaders that will follow in your footsteps and lead effectively.
If you’re having some uncertainties on how to approach this issue, here is a list of qualities that may help you in identifying your successor:
The next great leader should:
Work well in a team and be able to bring out the best in his teammates.
Be receptive to the ideas of others.
Respond in a professional manner to feedback.
Learn and listen to what others have to say.
Have a friendly approach and an inclination to teaching.
Be able to see an opportunity in every challenge; be solution-oriented.
Solve customer issues and complaints.
Seek further responsibilities while leading by example (excelling at already established assignments).
Work efficiently in a multi-tasked oriented environment.
Be the person others wish and choose to follow.
This type of person is the ideal leader for a value-driven organization in a world where culture reinforces values and visions.