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Who’s the next boss? 50% of SA companies don’t know

Leading executive search firm, Jack Hammer Executive Headhunters, has analysed data from a poll conducted with leading firms in the financial services, FMCG and engineering sectors. While about half confirm that a clear succession plan is in place and the successor identified, others indicate that leadership teams have been “fragile” and lacking in depth for the “past few years” and only some departments had a plan - while others are rudderless.

Debbie Goodman-Bhyat, the MD of Jack Hammer and an expert in long-term, strategic succession planning, says it is critical for corporates to have a plan in place to make any transition in leadership as smooth as possible.

“Although most top executives have relatively long notice periods in their contracts so that they can hand over the reins seamlessly, the time it takes to source the right executive for the role is often under-estimated. Further, just as the current incumbent may have a three- to six-month notice period in place, so too will the new appointee.

She points out that the best successor isn’t necessarily the current second-in-command.

“Some people are excellent in support positions and leaders need these people. But, just because they’re close to the action, it doesn’t automatically follow that they will easily and comfortably step into the CEO’s shoes.

Author: Debbie Goodman-Bhyat is the founder and managing director of Jack Hammer Executive Headhunters.Debbie has received a BA.LLB from the University of South Africa. Debbie specialises in Executive searching in: financial services, retail, FMCG, engineering, resources, oil & gas, biotech and pharmaceuticals.