Leadership Development for Executives
According to a recent study by Standford University's Rock Center for Corporate Governance, more than half of companies cannot immediately name a successor to their CEO. Some of this is due to lack of planning. However, much of it is due to the inability to clearly assess and grow talent within executive ranks.
Additional recent regulation by the Securities and Exchange Commission places new requirements on boards and organizations to reshape their executive succession planning processes, including greater transparency into CEO succession plans. Even without this increased scrutiny, common sense tells us that proactive succession planning can result in increased organizational effectiveness, reduced transition time and expense, greater leadership credibility, and increased retention of key individuals.
Executive Succession and development extends beyond the walls of the executive boardroom. For over fifteen years, boards and executive teams across the globe have relied on the DecisionWise Executive Talent Assessment Process (TAP) in selecting and assessing for C-suite potential.
The Executive TAP helps the organization:
- Understand the skills and behaviors essential to executive success
- Build a profile for top positions that take into account both current and future challenges of the role
- Put the processes in place to identify and develop the next generation of leaders
- Assess potential for executive success
- Determine readiness, desire, and intent of high-potentials
- Create robust development plans for both the organization and the individual
- Coach to ensure an effective and smooth transition
Cost estimates for bringing on a senior leader ranges from 1 to 8 times an executive's annual compensation. The cost of a poor decision extends far beyond that. The DecisionWise Talent Assessment Process plays a critical role in ensuring the right people are prepared for key positions.