Your Company's Succession Planning Can’t Wait Until 2026

Leaders, as we’re winding down 2025, one of the biggest challenges I see executives facing is Leadership Transition. According to multiple studies, between forty and fifty percent of Executives are expecting to depart or change roles in the next five years.

That number alone should be a wake-up call for current COs and CEO’s, especially those that don’t have a rock-solid succession plan for the near future. Not only is it a hard question most Credit Unions are afraid to ask, it could also turn into something worse - A dreaded compliance issue.

The Stakes Are High

We all know the NCUA’s expectations, and the last thing most board members want is to be caught in a leadership lurch. Showing your upcoming transitions is largely left up to chance? Not a great look.

The thing is, none of us can predict the future. We can hope for the best and assume those currently in position will continue in their roles, but there are so many factors that go into that. Health Issues, New Opportunities, or changing Family Situations have a huge impact on whether or not they’ll need to step down, take a leave of absence, or retire prematurely.

What Can Be Done?

I want to share three key steps to overcoming this obstacle and making sure your transition is as smooth as possible. It all starts with getting the board on the same page - It doesn’t need to be a huge meeting, just a small amount of focused, intentional time to address these three areas: 

1. Mapping Your Critical Roles

• Get a handle on the positions where there’s the most opportunity for these leaders to grow and really shine if there’s a gap in leadership. 

2. Name The Likely Successors

• Use objective standards (Like the Three C’s Method) to determine who has the necessary skills, and if coached properly, could potentially fill those roles.

3. Provide Accountable Training

• Use 90-day development plans to equip these team members with the tools they’d need to step into new positions.

The Results:

Imagine a holiday season where your organization hums along, even if a key leader steps away. Picture your bench filled with people who have already put the work in beforehand, confident that they know the playbook. 

See your executives giving clear, actionable updates, not guesses. They’re able to speak with confidence because they were prepared as part of the plan. 

This doesn’t have to be a distant dream. It is a practical result of focused work before December rolls around. If you choose to act now, you can walk into next year with a lower risk profile and a stronger team. That is the kind of future I help teams build.

Lead Boldly,

-MW

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