Leadership transition is one of the more challenging circum-stances executives face. If conducted poorly, the health of the organization can be jeopardized. Conversely, thoughtfully planned and smoothly executed transitions can actually enhance the organization's ability to function.
Too often the outgoing and incoming executives underestimate the complexity of the transition process, with its cognitive, emotional and interpersonal components. For the handover to be smooth and productive, it is essential for both executives to think about the intricacies and understand the dynamics of this unique situation.
A common question with no absolute answer is "How much time does a smooth handover of power take?" Sometimes there is a reasonable period of overlap between outgoing and incom-ing executives; at other times, urgency requires a quick change of leadership. While time is a very tangible circumstance, it is not the critical factor in a successful transition. The more important question is "What knowledge and what relationships need to be transferred?"
There are plenty of downsides to a poorly executed transition. Productivity can decline while people are waiting to see what the new executive is going to do. There is potential for lost customers if relationships are precipitously or badly terminated. There can be too much reinventing of the wheel if knowledge is not transferred. With so much at stake, an execu-tive transition merits both a sense of urgency and a high level of priority.