The Succession Plan
A well respected Garden Centre business was thriving. When I sat down with it’s visionary leader he told me that all the vice presidents were close to retirement and they needed to focus on a process to ensure that the business would be handed off to competent leaders.
In our conversations, Bob and I discussed the level of knowledge of plants, retail operations and emotional intelligence required to be at a senior level. A small group had been identified as potential future leaders and was leading at that time.
The priorities were set and then a plan was developed. We did a workshop with the senior team to explain the process. Each person would do an online assessment that took 50 minutes or so. The information had a validity and reliability of over 80% success in getting a good fit for a position. Then we would create a performance model or benchmark for any positions that needed filling. When the benchmark was set for the Vice President of Marketing, it indicated that 3 of the current executives would be a good fit. Only one was interested in the position and everyone was happy. In future we will be able to use this process to find the right person to step into any senior role.
We provided executive coaching to many of the senior leaders at that time. Currently provide that service for one of the company’s most valued senior Vice Presidents as he takes on more responsibility and will be facilitating the development of his high potential future leaders. The company continues to thrive and to stand out in a very competitive field.
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