STAFF LEADERSHIP TRAINING SEEN AS SOUND MANAGEMENT SUCCESSION PATH
Management succession may work best by identifying and grooming future leaders from within the current employee base rather than pursuing outside options, according to the winter 2005 issue of Currency, a quarterly newsletter published by Grant Thornton LLP for community bank executives.
Without
Senior management and the board, she said, should outline their perceived qualities of an ideal leader, identify potential successors and determine each individual's interest and capabilities to take over.
Other suggestions call for planning well in advance of a transition to new leadership, making the transition appear seamless to the outside world, and seeing that employees understand how and why a management change will be taking place.
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