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Keen (right) gave credit unions tips on succession
planning. NAFCU Political Affairs Director
Katherine Marisic moderated yesterday’s
webcast. – NAFCU photo |
Feb. 23, 2013 – One of the main impediments to organizational succession planning is getting up and “getting started,” Larry Keen of LarsonAllen Search LLC said yesterday during a NAFCU webcast.
Keen, who has managed several searches for key executives on behalf of LarsonAllen Search LLC clients, said giving employees a voice in succession planning will enhance their emotional investment in the credit union.
He said there are critical success factors credit unions should look for in potential successors to key leadership positions. These individuals should be visible leaders who inspire and build trust, Keen said, and should constantly seek to improve business processes.
Keen suggested that credit unions update their succession plans twice a year. He said they should plan at least 100 days in advance for the departure of key personnel. The webcast speaker said in some cases, credit unions will need to plan six months ahead for an executive’s departure.
Yesterday’s webcast will be available on demand until Feb. 21, 2013. More information about the webcast is online.