Consider this: Someone starts a business and works their entire career to build it up and make it successful. They hire hundreds of people, exceed business goals, and see success year after year. What happens when that leader is ready to retire? In many cases, he or she steps away and the business crumbles. Management who has not been properly groomed to fill a leadership position may step in and fail, hurting the company’s bottom line. In the worst-case scenario, legal disputes could begin and the company could go under.
There is a simple solution to avoid this outcome: Hire an executive recruiter to help you fill the role of company leader.
But, there is something most executive recruiters do not want you to know. If you have a strong succession plan in place, you probably will not will not need the services of an executive recruiter. Here is why.
A Succession Plan Eliminates Uncertainty
With a proper succession plan in place, company leadership can ensure their business is in good hands as people transition out of their careers.
A full succession plan typically requires an accountant and attorney, too, but from the personnel side, it means purposeful training and grooming. Essentially, it requires teaching current employees the technical, leadership, and management skills to prepare them for the next promotion. That way, if anyone in a leadership position leaves the company, there is always someone from within to step in.
Many companies do not have a succession plan in place. If you do not, there is no need to panic—an executive recruiter can help.
How Executive Recruiters Help Succession Planning
When we fill an executive position for a client, it is usually with a candidate who is prepared to learn their role while growing into the organization, ultimately to fill a new, higher-up position.
It requires an expert skillset to identify succession candidates. That is why so many companies rely on executive recruiting firms to help them find the right new hire. When hiring for a succession position, executive recruiters look for candidates with the following attributes:
- Eagerness to learn.
- Quick at picking up new technologies, methods, and concepts.
- Willingness to accept constructive criticism.
- Sense of loyalty.
- Proof of succession and/or promotions in the past.
- Management experience.
If it is time for you to think about your company’s succession plan, consider tapping an executive recruiter for assistance. You can contact us any time.