17 Sep C-suite move; let grace be the norm.
Mid-August ET reported that there were 960 CXO movements, a mix of internal elevation and lateral hiring, across sectors in Q1 of financial year 20-21.
The C-suite occupies a seat of high responsibility and power. As such, CXOs rarely consider moving to another organization. The process of movement needs to be handled deftly and very sensitively as a small slip could impact not only the individual but the current organization and employees. The crux of handling an exit lies in the manner of communication.
Exits at the C-Level are rarely by choice and mostly by design. Till some time ago, top management was a consistent factor in any company and hiring happened only in the mid and junior levels. As technology made rapid advancements, there was an anxious drive to identify suitable talent at the top level. While on one hand professionals who could not cope with the demands of the ever changing profile moved to a more suitable position, many used this opportunity to upskill and pursue other challenging assignments. Again, every senior move attracts attention, at times required but many a time unwarranted. Regardless of the circumstances surrounding the CXO’s exit, employees, customers, investors, partners, and of course the media closely watch the developments around the exit.
External factors could add-up and lead to an uneasy situation
In many cases a sequence of developments can lead to a situation making it imperative for the executive to leave. Business performance, M&A, compelling decisions taken by management, could all lead to a situation where the CXO feels claustrophobic and wants to leave. Does this decision reflect negatively on the CXO and will it impact on the executive’s future prospects? Will the current organization’s business take a hit? There is no definitive yes or no, but outcome largely depends on how the exit is perceived by the outside world. And that is purely based on how it has been communicated to all.
Avoid unwanted attention
If the exiting executive is high profile, media attention is unavoidable. The company’s media spokesperson needs to be clued in on the right way to articulate the executive’s exit; the story needs to be told in unison – by the spokesperson, the executive management and the exiting executive as well. Unnecessary spins or tweaks to the story can thus be avoided and should they come across any tweaked version of the story, the damage needs immediate control.
Engage & align digital channels
A simple 150-character tweet can wreak havoc if not handled responsibly. The company’s website, Twitter, Linkedin, Facebook and Instagram handles, the executive’s Linkedin profile page and every other digital property needs to be professionally maintained/ monitored. Social listening tools can be deployed to ensure there is no unwanted speculation. The company’s PR will have to step up to ensure the exit is smooth and professional.
Grace is paramount!
Grace and poise need to set the tone of any senior exit. Though communications with all audiences should be simultaneous, the close knit team comprising people in the organization who would have worked hard to help in a CXO’s success should be informed as early as possible. Else the exit could cause serious ripples resulting in loss of morale and trust.
A direct reportee of an exiting CEO said about being one of the last to know: Professionally it will not harm me, but my faith in humans has taken a beating.
The executive management will need to appoint a single point of contact on any matters relating to the executive’s exit. Maintaining business-as-usual mindset, keeping conversations focused on handover and maintaining an overall atmosphere of warmth will ensure that the executive and the organization part ways in the most amicable manner.
Many professionally managed organizations that we work with have deployed a mature exit process that ensures executives leave in the most graceful manner. What is not graceful is announcing news of someone’s departure and the replacement in the same breath. We need to `honor the space between no longer and not yet’. Comments welcome!
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