Five Steps to a Good Board Succession Plan

Five Steps to a Good Board Succession PlanIf you’ve run a business, you know that you must plan for the future while operating in the present. Without a solid succession plan in place, your business isn’t prepared for a change in leadership, regardless of the reason. This is part of corporate strategy for all successful institutions, including your community. Planning strategically for the future provides a seamless transition for your board.

Below are five steps to a good board succession plan.

Provide the right tools for the job. Make sure you provide training to your volunteers, along with all of the documents they’ll need to be familiar with in order to operate effectively. Part of this should include fostering a thorough understanding of the governing documents, a clear definition of the volunteer’s role, and a full update on ongoing projects and upcoming challenges and issues.

Invite participation. Many homeowners want to help, want to contribute to the success of their communities – they just don’t know how to get started. Ask owners for their opinions, invite open participation at meetings, and before long, you’ll recognize the achievers and big thinkers in your community.

Be clear with expectations and responsibilities. Once you’ve identified volunteers with great potential, delegate important tasks to them by getting them involved in committees. Make sure you set clear expectations, and that their roles and responsibilities are explicitly defined.

Set a path. No one should be expected to jump from volunteer to board president. It’s important to give interested residents a path to take to move from volunteer to board member and offer educational opportunities and training to help them on the journey.

Express appreciation. Volunteers who feel appreciated are more likely to stay engaged, and an experienced volunteer will one day make a great board member. There are many ways you can let your volunteers know how much of a difference they’re making, from formally recognizing them during meetings to making announcements in your newsletter to even putting on special events where volunteers are recognized.

For more information on how to establish a good board succession plan for your community, contact Bill Worrall at bill.worrall@fsresidential.com


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