Once the baton is dropped in the leadership race . . . your credit union is at risk. Strategic Succession Planning is a critical step to serving that purpose and mitigating unnecessary risk. If for any reason your CEO departs and you have not identified or groomed a “step in” or “drop in” candidate, your members are not being served. You have not adequately mitigated risk. This is not a gray area; but very black and white.There are many reasons why a CEO may no longer be available for work. Regardless of the reason; the board has a responsibility to have potential successors ready to serve. A strategic succession plan covers all the bases for CEO departure for any reason:Incapacitating illnessSudden demiseSurprise departureUnder performingNormal retirementOrganization restructureSuccession Planning is a process to ensure that the right people are in the right places at the right time. It is not a ‘Drive By’ event that leaves leadership to chance and risks the purpose of the credit union. The board of directors is responsible for hiring the CEO and, consequently, that future potential successors are identified and available when needed. The CEO is responsible for the development of potential successors. Ensuring proper succession to the CEO desk is a responsibility with an outcome that materially impacts the members, employees, community, and the future of the credit union. It should be taken seriously as it is could be the most important decision the board will make. This article describes a systematic process for the board to ensure that the right people are ready at the right time so they can be in the right place.Creating a robust and fail safe Succession Plan requires a structured and systematic process. It is the boards’ responsibility to decide what competencies are required to meet present and future needs of the credit union. Use the strategic plan as a beacon for developing a list of competencies, both hard and measurable skills, and soft, personal mastery skills. Competencies need to be defined so there is no misunderstanding of how to measure performance of that competency. A Succession Plan needs to be updated every time there is an update in the strategic plan. The CEO Position description needs to be reviewed and updated on an annual basis. A written position description should include measurable work habits and personal skills required to achieve a work objective.Using a qualified facilitator for your first time through a systematic process will provide a foundation for moving forward and updating your Succession Plan every year. There are certified coaches with specific disciplines in Succession Planning and online templates to document and create performance yardsticks for competencies. This is deep and serious work that will strengthen the organizational competencies and capabilities. As a member of a board that creates a robust Succession Plan, you will be adding value that will positively impact your credit union for years to come. . . . the baton will be passed in the Leadership race. 41SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Deedee Myers Deedee Myers is founder and CEO of DDJ Myers, Ltd. and co-founder of the Advancing Leadership Institute. For the past 20 years, she has been passionate about establishing and developing … Web: www.ddjmyers.com Details
Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comment (1) Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings Sort by: Date Rating Last Activity Loading comments… You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. 0 Vote up Vote down Stacy · 272 weeks ago It should say Lanie Thurman instead Bill Mock in 3rd place for the 2nd flight. Report Reply 0 replies · active 272 weeks ago Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new comments 2015 Scott Rice Memorial Scholarship winners.Sumner Newscow report â€” The rain held off enough Saturday so that the Scott Rice Memorial Golf Tournament could be played at the Wellington Golf Club Saturday.Â Ileena Arnett and Ian Young of Caldwell were named the Rice scholarship recipients.The following are the team winners of the 2015 Scott Rice Memorial Tournament:First Flight Â Â 1st 55: $80 each Â Â Â Â Â Â Â Rusty Lane, Nick Edge, Bo McGown, Justin Ryan. Â Â 2nd 56: $60 each Â Â Â Â Â Â Â Darren McDorman, Mark Bales, Gary Richmond, Derek Harrison. Â Â 3rd 57: $40 each Â Â Â Â Â Â Â Carter Benecke, Chaney Stallbaumer, Chad Whaley, Nick Becker. Â Â Â Â Second Flight Â Â 1st 65: $80 each Â Â Â Â Â Â Â Tim Webster, Alec Webster, Braden Lebeda, Mike Lebeda. Â Â 2nd 66: $60 each Â Â Â Â Â Â Â Sean Blosser, Tim Blosser, Marty Blosser, Lesly Blosser. Â Â 3rd 66: $40 each Â Â Â Â Â Â Â Bill Mock, Taylor Roop, Byron White, Breck Roop. Â Â Â Â Third Flight Â Â 1st 72: $80 each Â Â Â Â Â Â Â Phil Harper, Jim Bolden, Doug Kinney, Denny Harper. Â Â 2nd 73: $60 each Â Â Â Â Â Â Â Weston Almond, Matt Johnston, Zach Johnston, Joel Hartman. Â Â 3rd 74: $40 each Â Â Â Â Â Â Â Zach Turner, Equis Woodin, Billie Jackson, Eric Eaton.Follow us on Twitter.