As the demographics of leaders in today’s organizations continue to evolve,
we place our focus on the Baby Boomer generation and the need for succession
planning. It is critical that firms have both short-term and long-term
organizational plans to address leadership development and tactical hiring, and
marketing can play a significant role in enhancing the firm’s public image, communication,
and training to help position the firm for future success.
Below are six strategies for marketers to tackle when planning for succession.
1. Build brand visibility. As the firm
begins to search for a successor, marketing’s main role should be to increase
brand awareness and gain visibility in the marketplace. Positioning the firm as
a great place to work and highlighting growth and innovation as key focal
points will help attract the talent needed to fill the skills and capabilities
2. Reassess client needs. As the firm
focuses its attention on talent acquisition, it is imperative that clients’
needs are being met. These needs will change over time and will occur during
the transition of leadership. Marketers should assist in creating a strategic plan
for firm leaders to reassess client requirements and discuss the plan for
3. Create an environment of transparency. During
this stage of succession planning, it is important that employees remain
positive and motivated. Marketers should work closely with human resources and firm
leadership to determine the best approach when communicating the future of the
firm, as well as roles that might need to be filled. Fostering a culture of
internal development and promotion will increase engagement and excitement within
4. Streamline the communication process. Effective communication is a vital part of any
organization’s success. It can enhance the productivity, morale, and commitment
of employees and clients, which is why marketers should have an internal and
external communication strategy to communicate the succession plan.
5. Document all processes and procedures. As
the change in job roles begins, it is a best practice to create policies and
procedures that outline the responsibilities of each position. Marketing can
assist in ensuring every process is documented and recorded to make sure those
responsibilities can be conducted again by new hires.
6. Assist next generation leaders in building
their personal brand. Marketers can assist in developing the next-in-line
leaders of the firm by enhancing their personal brand and increasing their
visibility in the community. Marketers should conduct public relations
activities to promote these leaders to the public, highlighting their skills
and expertise through speaking engagements and media coverage.
Retirement is inevitable and great leaders will come and go, but its
important that every organization has a solid foundation to continue growing
the firm through adversity. Marketing plays a vital role in building this
foundation through goal-oriented strategies, focused on lead and revenue
generation. The six strategies above can help guide marketers in facilitating
and communicating the succession plan both internally and externally, to
position the firm for long-lasting growth.
Want to learn more about the marker’s role in succession planning? This article from the CPA
Growth Trends blog shares insight from top industry experts.