Ten Thoughts on Retirement/Leadership Transition
Post by James V. Toscano
With one-third of all Executive Directors reporting they will be leaving their positions in the next few years, I advance the following thoughts on retirement, now having retired this month for the third time.
1. Ensure that the Board of Directors has agreed to a succession policy and plan for top executive leadership well in advance of any announced departure. The Executive Director will probably need to initiate this policy, while board leadership needs then to jump in early and take responsibility.
2. Always nurture and work hard to develop all internal talent for greater efficiency and effectiveness of your organization and also to prepare them for possible succession.
3. When initially taking the job, ensure that board leadership understands the terms of engagement as well as an exit strategy. Understand all of the financial parameters. If already on the job, put policy in place as soon as possible. See more about this in my recent article.
4. Give adequate notice, help the search committee frame the new job description, be available to answer all questions of the committee and any head hunter hired, although do not serve on the committee itself.
5. Try to have the board agree to a certain time overlap with your successor so that there can be an orderly and successful hand-off of responsibility.
6. Organize files, computer documents and other materials in as logical a manner as possible and go over these materials with your successor, not, however, personalizing anything or holding back any essential documents. Take no confidential or critical documents with you.
7. Once the replacement person is in position and oriented, leave and do not offer opinions, even if asked. Especially, never criticize actions taken, even if you disagree with what is happening. You are no longer there or in charge. Some will disagree with this, although it is best to just smile.
8. If former staff members come to you to complain, listen appreciatively, although do not offer advice. The only assistance you should give is to help them find a new job.
9. Let the Board throw you a party, and keep it modest all around.
10. Keep busy. Share your learning and knowledge. Do not rust.
Copyright 2012 The Good Counsel, division of Toscano Advisors, LLC. May be duplicated with citation.