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Succession planning is a top responsibility of every Board. However, the quality of planning processes and approaches that underpin these essential decisions varies enormously. As business volatility increases and CEO tenures get shorter, clients are focusing on the need for thoughtful, informed succession processes that maintain stability and high performance through leadership transitions. Heidrick & Struggles’ experts support clients in developing these critical processes that enable them to achieve strategic goals and deliver shareholder value.
Whether a transition is 10 years away, five years away, in the next six months, or as part of an emergency situation, we work with Boards to craft a custom process that suits their needs. CEOs and Boards partner with us in the design and implementation of effective succession plans and leadership transitions, including alignment around future leadership requirements; identification, assessment and selection of candidates (both internal and external), and transition planning and on-boarding for new leaders.
Using our proprietary assessment methodology, the Infinity Framework, as well as tools like Leadership Signature and the Leadership Accelerator Questionnaire (LAQ), our approach to succession is designed to help clients identify, assess, and evaluate the next CEO, senior executive, or Non-Executive Director, and prepare him or her for success.
In order to manage leadership risk and business continuity, we work with our clients to develop a process that typically includes:
- Company strategy discussions
- Development of a future CEO profile
- Internal candidate assessment
- External market analysis
- Emergency succession scenario planning
- Internal candidate development
- Transition planning and onboarding