Client’s Credit Union CEO was concerned with planning for her pending retirement in a year-and-a-half. She contacted us to discuss how we might be able to help her and the Board plan ahead.
We put together a development plan for each candidate (internal candidates included) to help them bridge the gaps over the next year. We will do an assessment at the end of the year and report back to the Board on how well they align with what the Board is looking for (including education and experiences.)
Even if an internal candidate is not selected for the CEO role, using this process will help those internal candidates feel like the Board has sincerely considered them and was willing to invest in their development to give them the best opportunity. This process will help to retain these employees if they are not selected as the successor to the CEO.