Julie Redfield, talent management expert at PA Consulting Group, gives her views on the best practices and worst practices of succession planning management in the wake of shifts at the top for Apple, IBM and Hewlett-Packard.
Under Best Practices, Julie advises:
- Involve the predecessor, when possible: An exiting CEO should explain business-planning processes, identify key challenges that the incumbent likely will face and even share unfulfilled dreams of what they would have liked to do. The person leaving is going to have knowledge about how things work, some of which simply can't be documented, and insights that no one else is going to be able to share with the person coming in.
Under Worst Practices, Julie counsels against:
- Bringing an outsider as chief executive: They often fail because they don't understand the culture and how things get done in the organization.
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