Assessing Your Bank’s Leadership Team is the Foundation of Successful Succession Planning
<To View the Article in its published format, click here: Dream Team Article A 8-2017>
Many bank Boards of Directors and CEOs are proud of their bank’s executive team. And rightly so! Yet frequently those feelings of pride dissolve into uncertainty when the bank is faced with the decision to promote a banker into a top executive position or even the CEO role.
How does this happen? Why do well laid out succession plans sometimes evaporate in the face of reality when the time to elevate someone finally arrives? One of the reasons, based on our experience working with hundreds of community bank boards and executive teams, is that directors are often missing context when faced with a promotion decision. The lack of relative perspective on comparative candidates for similar roles may at times impede the comfort level necessary for a board to validate a promotion decision.
<To Read the Article in its published format, click here: Dream Team Article A 8-2017>
This article appeared in the Pennsylvania Association of Community Bankers Publication in 2017.
Alan J. Kaplan is Founder & CEO of Kaplan Partners, a retained executive search and talent advisory firm based in Philadelphia. Kaplan Partners is the country’s only retained executive search firm member of the ABA & ICBA. You can reach him at alan@KaplanPartners.com or 610-642-5644.