SUCCESSION PLANNINGWhat Will Your Legacy Be?

NSHEJune 6, 2013

Introduction

Topics

• How do I make a plan?• What are my options?

• Why does succession planning matter?• 4 things we can all count on.• What is a legacy and what is yours?

Organizational/C-Suite Buy In

• Without Senior Management support, frustration is inevitable

• Consult with Human Resources: They have the tools

• First, sell the concept

Candidate Selection

• Identify the prospects

• Share your plan with them

• Prepare for some unexpected responses/reactions

Mentoring/Coaching

• Assignments/Projects• Frequency• Review experiences & lessons learned• Shift gears when necessary

Keys to Succession Planning

• Shadowing• Internships• Community • Professional Network

Assessment Tools

• Skills Assessment

• Selecting for “the fit”

• Leadership Style

Why Does It Matter?

• The Four Absolutes in life: 1. ALL of us will die eventually 2. MOST of us will retire 3. SOME of us will leave a legacy 4. NONE of us can take it with

us

“It’s not what you take when you leave this world behind you, it’s what you leave behind you when you go.” Randy Travis - 3 Wooden Crosses

Choosing the Right Successor

• Why did you choose your profession?

• Great employees do not necessarily make great leaders.

• Can leadership be taught?

The Statistics Don’t Lie

• Audience poll• 78 million Baby Boomers are turning 65,

at the rate of 1 every 10 seconds.• 3-4 million will turn 65 this year alone• They represent 28% of the US population• The two industries most impacted:

Healthcare & Construction

Legacy:

“Something handed down from an ancestor or predecessor. A gift.”

What do you want yours to be?

The Servant Leadership Concept

Closing Thoughts