In this episode about Succession Planning for CEOs and Their Organization
- Succession Planning Tools: Jim and Sharon discuss practical tools like depth charts to ensure robust succession planning, highlighting the need to have a pipeline of talent at different levels of readiness within the company.
- Talent Assessment and Development: The episode emphasizes the importance of using the ABC rating system and the 9-box exercise to regularly assess and develop talent within the organization, focusing on both current performance and promotability.
- Managing Long-Tenured Leaders: The hosts address the challenges of dealing with long-serving leaders who may be hindering the growth of younger talent, offering solutions such as assigning special projects or encouraging retirement to create opportunities for others.
Here is a glimpse of Succession Planning for CEOs and Their Organization
In this episode of The Lazy CEO Podcast, Jim Schleckser and his co-host Sharon McGuire discuss the essential aspects of succession planning for CEOs and their organizations. They begin by introducing the ABC rating system, which categorizes employees as A (overperformers), B (steady performers), and C (underperformers), and suggest that leaders should regularly assess their teams using this method.
The conversation then shifts to the “9-box exercise,” a tool that helps evaluate employees not only on their current performance but also on their promotability. The hosts emphasize the importance of developing talent within the organization, ensuring that top performers, especially those who are promotable, are given new challenges and opportunities to prevent them from seeking opportunities elsewhere.
They discuss the need for regular management reviews of talent and the importance of team-based discussions to ensure accurate assessments. The idea that “the company owns the talent” is highlighted, stressing that managers should not hoard their top performers but instead allow them to gain broader experience across the organization.
Resources mentioned in this episode:
- Jim Schleckser on LinkedIn
- The CEO Project
- Great Ceos Are Lazy: How Exceptional Ceos Do More in Less Time by Jim Schleckser
Sponsor for this episode…
This episode is brought to you by The CEO Project. The CEO Project is a business advisory group that brings high-caliber, accomplished CEOs together. Our team of skilled advisors comprises current and former CEOs who have run both public and private sector companies across multiple industries. With our experience and expertise, we guide hundreds of high-performing CEOs through a disciplined approach that resolves constraints and improves critical decisions. The CEO Project has helped high-performing, large enterprise CEOs with annual revenues ranging from $20M to over $2 billion to drive growth and achieve optimal outcomes. If you are an experienced CEO looking to grow your company, visit www.theCEOProject.com.