Planning for successors to take care of their own departure is not a priority for the majority of company heads in the information technology sector. Spotlight on the usefulness of setting up a succession plan.
8 CEOs out of 10 have not identified a successor to replace them in case of their departure. This is what a recent survey found, conducted by the technology branch of the Robert Half firm with 270 Canadian CEOs in the information technology sector. Preparing a succession plan would let them take the next step in their career calmly or, for the company, overcome a situation of impromptu departure, according to Lara Dodo, Regional Vice President of Robert Half Technology. The official forecast for a succession is also a critical item in a company’s success and allows prospective employees to have a clear view of career objectives and remain in their position within the company, the expert says.
The five tips from Robert Half to find a trustworthy successor
1/ Start the succession plan as soon as possible, due to a potentially long phase of identifying and preparing the candidate. Training also allows the company lead to be transferred in case of unexpected and/or extended absence.
2/ Remain attentive to other skills. Even if a candidate is a natural due to their status within the company, it is wise to also consider people with profiles of strong technical aptitudes and team management skills.
3/ Share the company’s goals with potential successors to let them acquire skills in planning and management.
4/ Make regular recommendations to give candidates for succession the opportunity to grow and meet expectations.
5/ Make a trial when going on holiday by putting the successor in place. This is a way for him to assume the responsibilities of business leader for a time and to gain experience.