We know in the for-profit segment of the insurance world – Succession Planning is vital for many reasons, such as: Business Continuity, Talent Retention, Client Confidence and Adaptability in a Changing Market. They need to make sure future leaders are ready to navigate the challenges of ever-changing technology, customer expectations, and regulatory changes. They know when an employee sees a clear path to advancement, they are more likely to stay long-term. And a well thought out plan usually ensures a smooth transition and prevents costly disruptions.
How we manage that process at Insurance Professionals should not be much different. What we must keep in mind is that we are an all-volunteer organization where many of our members have to juggle commitments with full-time jobs in addition to the time they dedicate to our IAIP involvement like Task Forces, Committees, or being on a Board whether it be at a local, council, regional or international level. This can make it even harder to identify and prepare future leaders.
We have heard from several regions that they have struggled recently getting candidates to step-up and ‘throw their hat in the ring’ to be local presidents, council directors or regional vice presidents.
We must focus on developing leadership skills among our volunteers to ensure a “deeper bench’ of future leaders. We also need to have plans in place for unexpected departures, ensuring that key roles can be filled quickly and effectively.
Does IAIP have any courses that could help with this? We certainly do! It is in our CLP Designation course, module 1: Succession Planning.
A lack of succession planning is like sailing a ship without a compass. You might move forward, but you are likely to drift off course and face unexpected obstacles.
Effective succession planning is like having a state-of-the-art navigation system that not only keeps you on course but also anticipates and guides you through rough waters, ensuring a smooth and successful journey.
If you do not already have one, seek out a mentor or coach. Take IAIP educational courses to further develop your leadership skills. Use your navigation system to reach your next steps within the association or assist another member with their journey. Be a compass. When we help each other, the path is always easier to travel. This process should help us eliminate any gaps with our succession planning – and enhance our plans for success as an organization.
Author: Terri Brennan, Region VII RVP