By Shannon Gabriel
When Steve Jobs chose Tim Cook as his successor at Apple in 2011, he planned for the company’s future—not just its present. In contrast, GE’s struggles after Jack Welch’s departure show the cost of short-sighted succession planning. Too often, companies hire leaders for today’s needs instead of preparing for tomorrow’s challenges.
Align leadership needs with the company’s future goals. Identify the type of executive needed for where the company is headed, not just where it is now.
Unexpected exits happen—be ready. Have at least one senior leader prepared to step into any key role at a moment’s notice.
Invest in leadership development year-round, not just during succession planning. This supports retention and prepares talent before a vacancy arises.
Evaluate how leaders interact with others, not just their skills. Team chemistry and respect matter as much as competence.
Hiring top talent is worth it, even if they don’t stay long-term. Their short-term impact can still bring great value.
Be willing to change course if a chosen successor isn’t the right fit. A longer planning horizon gives you time to reassess and adjust.
Succession planning must look ahead, not react to current vacancies. Forecast future needs and build a leadership pipeline in advance.
Succession planning must be intentional, proactive, and built around long-term goals—not reactive responses to sudden changes.
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