Loichinger Advantage

Tips for Success

With the value and guidance of an external consultant, there are any number of things that organizations can do to identify and mentor their next generation of organizational leadership.

• Tip #1

  Develop a contingency plan for the unimaginable – should it occur:

  • Who would temporarily replace the president/CEO the next day?
  • Which stakeholders will need to know within the next 24 hours and why?
  • What actions would this event and announcement trigger in the next month?
• Tip #2

  Replacement of the executive team. Take a look at the near term replacement of your executive team.

  • Identify the leadership positions and their key responsibilities.
  • List the top 3 – 5 criteria that will be used to replace each of the positions.
  • Identify any credible internal candidates, along with their strengths, gaps in readiness, and individual interest in the position.
• Tip #3

  Define the list of current leadership/management skills, in addition to the emerging skill sets required by senior leaders coming into the organization.

  • Facilitate a discussion among the senior leadership team on the skills and values they have followed to gain the management success they have achieved to date.
  • Facilitate a second discussion and agreement to the emerging market conditions and resulting skill sets that will be required to lead the business into the future.
  • Compare and contrast the two lists to generate a third list, which will define the leadership profile to be used in the future, whether looking at internal or external hires. Define the likely source, as well as a prioritized list of developmental activities needed to begin developing current candidates.