Three Key Reasons Early Coaching Helps Improve Succession Planning

  1. Creates a pool of talent to choose from. If you start identifying employees to coach early on, you’ll have a good idea of who is best suited for positions as they become available. According to an NACD survey, 74% of public and 52% of private company directors reported the most challenging aspect of CEO succession planning was maintaining a strong leadership pipeline. If you’re actively looking for talent to develop, you’re already setting your organization up for success.
  2. Cultivates ongoing skill development. Identifying potential candidates isn’t enough — you’ll need to help them develop relevant skills for the specific role. As many as 74% feel unprepared for new roles, so it’s imperative to equip them with the skills they’ll need. According to ICF, of those who receive coaching, 80% reported an increase in self-confidence, and more than 70% benefited from improved work performance, relationships, and more effective communication skills. As a bonus, 86% of companies report they recouped their investment in coaching and more. If you start your coaching early, potential candidates will already have the skills needed for a smooth transition that benefits everyone.
  3. Allows for constant candidate evaluation. The needs of a business are constantly changing and in motion — the same goes for its people. By starting your coaching process early, you can adapt it based on company and individual needs as they present themselves. This also paves the way to identify new candidates who may have been passed over in the initial assessment.

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