Appointed CEO? Great. Start planning for your exit

Doce Tomic is president and CEO of Credential Financial, a national wealth management firm owned by Provincial Credit Union Centrals and The CUMIS Group.By Doce Tomic

A common misconception around succession planning is that it signifies the end of a CEO’s tenure. Just as you don’t wait until death is knocking at the door to buy life insurance, you also shouldn’t wait to start planning for your inevitable exit.

Companies are no different than individuals in that they should always be prepared for the unexpected, such as the loss of a key individual – especially the CEO or a member of the executive team. Continue reading

Overcoming the Toughest Common Coaching Challenges

by Amy Gallo

Great managers strive to do right by their employees — treat them well, motivate them to succeed, and provide the support and coaching each person needs. This is often easier said than done, especially when it comes to coaching. That’s because coaching takes time, skill, and careful planning. And there are certain types of people who may be particularly challenging for managers to coach. Think about the Eeyore on your team who is pessimistic at every turn, or the person who refuses your advice with a smile on his face. It’s not fair to you or to the employee to give up, so what do you do? Continue reading

How Great Coaches Ask, Listen, and Empathize

by Ed Batista

Historically, leaders achieved their position by virtue of experience on the job and in-depth knowledge. They were expected to have answers and to readily provide them when employees were unsure about what to do or how to do it. The leader was the person who knew the most, and that was the basis of their authority.

Leaders today still have to understand their business thoroughly, but it’s unrealistic and ill-advised to expect them to have all the answers. Organizations are simply too complex for leaders to govern on that basis. One way for leaders to adjust to this shift is to adopt a new role: that of coach. By using coaching methods and techniques in the right situations, leaders can still be effective without knowing all the answers and without telling employees what to do. Continue reading

Evaluate Your Leadership Development Program

By Harrison Monarth

Despite studies showing that succession is an essential part of strategic planning, many companies ignore leadership development to focus on more immediate challenges. But your organization’s future success depends on identifying and developing the next generation of its leaders.

According to a 2014 survey from Deloitte, 86% of business leaders know that their organizations’ future depends on the effectiveness of their leadership pipelines — but a survey of 2,200 global HR leaders found that only 13% are confident in their succession plans, with 54% reporting damage to their businesses due to talent shortages. To improve your leadership development strategy, look at the criteria you’re using to identify potential leaders, what you’re doing to assist with their development, and how you’re measuring their success. Continue reading

Toxic Talent Management Habits

80-Tomas-Chamorro-Premuzicby Tomas Chamorro-Premuzic

All organizations have problems, and they always involve people. Indeed, talent management issues are a major cause of organizational underperformance. For example, a recent report by Deloitte, based on data from over 2,500 business and HR leaders from 90+ countries, shows that employers around the world are poorly prepared to tackle key human capital challenges, such as “leadership, retention and engagement, the reskilling of HR, and talent acquisition.” I see five specific bad talent habits over and over again. They all threaten the effectiveness of the modern organization. Continue reading