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Grooming the next leader—succession, transition and mentoring with Christine Faulhaber
Key takeaways:
[00:09:51] Have a vision for the future of the business and your involvement in it, and then map it out in writing. Revisit the plan often to avoid frustration and hold yourself accountable, Faulhaber says.
[00:12:03] Give yourself and your team plenty of time for the transition. You can't expect things to happen overnight, and some team members will be more comfortable with change than others. Maintaining a presence and regular check-ins can help smooth the transition.
[00:14:21] Be serious about your role as a mentor. Faulhaber points out that the stakes are especially high when your mentee is taking over at the helm of the business you built from the ground up.
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By Canadian Western BankKey takeaways:
[00:09:51] Have a vision for the future of the business and your involvement in it, and then map it out in writing. Revisit the plan often to avoid frustration and hold yourself accountable, Faulhaber says.
[00:12:03] Give yourself and your team plenty of time for the transition. You can't expect things to happen overnight, and some team members will be more comfortable with change than others. Maintaining a presence and regular check-ins can help smooth the transition.
[00:14:21] Be serious about your role as a mentor. Faulhaber points out that the stakes are especially high when your mentee is taking over at the helm of the business you built from the ground up.