In the last 5 years, succession planning has become a huge trend. As our more experienced, tenured faculty begins to retire, we now encounter a void in our leadership at many institutions, leaving room for up and coming talent.
Although, the succession planning process is quite similar to a traditional search, the key ingredient is time. When searching for a replacement, don’t wait until you have 2-3 months before the incumbent retires, be proactive in finding the best candidate possible, as early as possible.
Set your institution up for success by doing the following:
- Planning 12+ months in advance
- Complete a SWOT analysis on the retiree
- Interview their team
- Decide if it will take 1 or 2 people to replace them
- Call Cerberus Academic Search to help with the process and search
The war on talent is upon us, now more than ever and it’s driving unprecedented wage growth, especially for high-level positions in Academia. Don’t end up overpaying due to a lack of planning or force yourself into making a rushed decision.
These unprepared decisions and lack of planning can be costly and we are here to help you avoid those mistakes by walking you through the process of developing a succession plan with a local or national search for the candidates to best fit your team.