Succession Planning – A Proven Process



Succession Planning for Resilience and Sustainability

To create sustainability and long-term strategic success of the credit union, it is imperative to have a succession plan. Facilitating the development of a succession plan for a credit union involves leadership development, talent identification, and ongoing training. Here is the Leading2Leadership process for building a succession plan for sustainability:

Phase 1: Introduction to Succession Planning in Credit Unions

Objective: Understand the importance of succession planning and its impact on the long-term sustainability of credit unions.

This is a half-day on-site session with the executive leadership team to understand the following:

  1. Overview of Succession Planning
    1. Definition and purpose.
    2. Benefits for credit unions.
    3. Risks of not having a succession plan.
  2. Industry Trends and Challenges
    1. Current challenges facing credit unions.
    2. Trends in leadership and talent management.

Phase 2: Assessing Current Leadership and Talent

Objective: Evaluate the existing leadership team and identify potential successors within the organization.

Leading2Leadership will schedule 50-minute one-to-one interviews with each executive leader over 30 days to understand the following for each including:

  1. Identify the critical leadership competencies.
  2. Assess soft-skill competencies.
  3. Learn leadership style/tendencies.

Leading2Leadership will conduct a 50-minute interview the CEO to understand the strategic plans of the credit union and to identify specific leadership skills and operational knowledge that need to be taken into consideration when identifying the successor candidates.

Leading2Leadership will provide a complete Leadership Assessment to the CEO/Board of each candidate 30 days after the interviews. This Leadership Assessment will Identify and rank:

  1. Skills and knowledge recommended for the credit union to realize it’s strategic objectives.
  2. Rank potential successors.
  3. An assessment of each participant’s leadership, soft and hard skills, and their potential.
  4. Recommend individual development plans for the top five successor candidates.

Phase 3: Developing Leadership Skills (Optional – $5000 plus reasonable travel expenses.)

Objective: To strengthen and deepen the leadership bench throughout the credit union.

Concurrent with Module 2, Leading2Leadership will provide a two-half-day workshop to enhance the leadership skills of all management and supervisory employees. This hands-on workshop is designed to improve soft, influence, coaching, and mentoring skills. The eight lessons are:

  1. Learn the traits of leadership.
  2. Discover your emotional triggers.
  3. Learn your blind spots.
  4. Understand how to use EQ (Emotional Quotient.)
  5. Improve your ability to influence.
  6. Learn how to build and sustain a high-performing team.
  7. Learn the importance of choosing a mentor.
  8. Understand the KPIs of leadership and career goals.

In addition to these eight classes, enrollees will participate in a one-hour, one-to-one mentoring review of their complete Leadership Self-Assessment.

Phase 4: Creating a Cross-Training/Job Rotation Plan

Objective: Establish a structured pipeline for grooming and promoting leaders from within the organization. This includes a Cross-Training/Job Rotation Plan:

Leading2Leadership will recommend an implementation plan for cross-training/job rotation 30 days after the CEO/Board presentation to expose the five top candidates to various roles and siloes.

Phase 5: Final Assessment and Action Planning.

Objective: Assess participants and their progress.

Leading2Leadership will, at six and twelve-month intervals after the Pipeline Plan has been launched, conduct a 50-minute interview with each of the five top candidates. From these interviews, Leading2Leadership presents an overview of each of the five leading candidates to discuss the following:

  1. Knowledge Assessment
    1. Understanding how each has progressed.
    2. Identify areas for further learning learning.
  2. Action Planning
    1. Review candidates and determine if there needs to be changes, deletions, or additions to the candidate pool.
    2. Bring clarity to the readiness of each candidate.
    3. Re-rank the top candidates for succession.

Engagement fee (less Module 3 – Developing Leadership Skills workshop) = $30,000


There are no reviews yet.

Be the first to review “Succession Planning – A Proven Process”

Your email address will not be published. Required fields are marked *