Upgrading instead of reacting when leadership leaves…
What do you do when you lose someone at the leadership team level whose imprint on the company seems irreplaceable? Many companies become stuck at this juncture, unable to separate the professional abilities and personal attributes from the role. Often, the former exec is memorialized making it impossible to move forward. While we can respect their contributions and miss their company, it is not the time to stagnate. Instead, recognize this time as an opportunity to upgrade.
Once the role has been vacated, truths are often revealed. Strengths and weaknesses can be viewed more clearly without personal bias hindering our judgment. Companies typically react in one of two ways: by remaining frozen in the aftermath of the exit, or by reacting quickly, positively, and methodically to find the best person for the role.
By not moving forward, you are automatically in a defensive mode, simply trying to fill the void created by the former executive. In this scenario, EOS protocol is not implemented, and typically promoting from within is the only option considered. Often the open position does not have a clearly defined role, making it difficult to create space for divergent skill sets, opinions and ultimately, preventing an upgrade.
The better option is to decide how this new role can strengthen the leadership team and company as a whole. This company examines their needs carefully and decides how they can leverage this new role to improve profitability, increase sales or build new relationships — not simply replace an employee. Although the response is immediate, the results may not be. Unlike the first scenario, upgrading takes time.
This process requires a company to:
- Clearly define the role and desired skills. This new definition might differ from the previous leader. Look at both hard and soft skills.
- Who is this person? Build a profile of the candidate.
- Find several candidates that fit this profile, both external and internal.
- Chemistry is key. When you interview candidates, make sure they connect with the owner and executive team as well as the team they will lead.
- Take your time selecting the right candidate so your new role becomes an upgrade/opportunity rather than a replacement.
Investing the time in a new leadership team member that aligns with your mission and adds value, experience and perspective will benefit your bottom line — both now and as your business evolves.
