In or Out: Succession Planning for Community Bank CEOs
As community bank CEOs, your commitment to excellence is paramount. Yet, we’ve all seen what happens when an organization loses its drive. There’s a nearby bank my client used to work with, sharing loan participations and collaborative efforts. Unfortunately, they’ve given up. Despite having plenty of cash in the bank, they’ve stopped trying. This lack of effort, driven by the absence of a solid succession plan, is evident in their customer service, updates and overall approach to the future. It has created problems for everyone.
Giving up is a waste.
However, a distinction must be made: quitting can be a strategic decision. Quitting frees up resources and energy, allowing you to focus on new opportunities and future contributions. However, this does not apply to succession planning. Quitting on succession planning is not an option for community bankers.
The critical takeaway for all CEOs is this: be decisive. Either be fully committed to developing and implementing a robust succession plan or risk the future of your bank. Sitting on the fence is not an option.
A clear and actionable succession plan is crucial in the community banking industry. Customers, employees, and stakeholders look to you for clear, unwavering leadership. If you’re not fully committed to planning for the future, you need to reassess and decide your next steps.
Let’s ensure your commitment to succession planning is evident in every aspect of our leadership. By fully investing in preparing the next generation of leaders, we can drive your banks forward, seize new opportunities, and continue making meaningful contributions to your communities.
In or out. The top of the fence is no place to hang out. Succession planning is a commitment we must not quit on.
For more information, please contact us!