Over the next few years, we are going to see several transitions in management and executive committees (ExCom and DirCom), particularly in very small companies. Long-standing strategies, business growth, managerial succession and business transformation are leading many companies to opt for generational renewal of the ExCom and DirCom. This reshuffle must be controlled so that the company does not suffer negative consequences. How can it be avoided? Let Fitch Bennett Partners bring you its vision.
The Executive Committee (ExCom) and the Management Committee (DirCom) are responsible for the strategic vision of an organisation. As the pillars of the company, these two committees have a considerable influence on strategic decisions, day-to-day operations and corporate culture.
They also have a significant impact on the well-being of employees. Indeed, as we often point out in our articles, employees are increasingly looking for serenity at work rather than a substantial salary. It is therefore crucial for the well-being of the company and its employees to find the right talent for the job.
Rejuvenating the ExCom and DirCom
Rejuvenating management committees is a good way to bring new perspectives and energy to the company. In 2015, a new form of integrating young executives into the top management has shown its effectiveness in many companies. So-called “shadow comex” and “shadow codir”, related committees have been formed of millennials in order to not only integrate the new generation into strategic meetings but also to bring a modern, tech-savvy perspective to the company. As with these second committees, the committees’ rejuvenation can provide the company with new ideas to challenge the organisation’s vision for its development in the coming years.
However, to take advantage of these new ideas, it is first necessary to ensure the transition between the old and the new generation. This means that a certain continuity must be exercised through transmission, based on the principles of knowledge management. A transfer of knowledge and experience must be carried out. The two generations must work together to identify each other’s points of view and objectives in order to define and build new roadmaps to support the transition.
Founding talent for the management and executive committee
The stakes are high. The long-term success of your company is in the hands of the people you choose to form the ExCom and DirCom. Especially since these positions often require specific skills. These include :
- Making effective decisions
Having competent and experienced members can help ensure that these decisions are made effectively.
- Having strong leadership
Responsible for the direction of the business, members must be able to communicate clearly and guide other employees in the business.
- Representing the company to many stakeholders (customers, investors, media, etc.)
It is important to have competent members who can communicate and represent the company in a manner consistent with the overall vision of the entity.
- Taking care of the corporate culture
The members of these two committees are the leaders and have a considerable influence on the company’s culture. It is therefore essential to choose people who are aligned with the company’s values and objectives.
In the end, it is easy to understand that recruiting someone who is not suited for the job can jeopardize your company in the short, medium and long term.
An internal or external person? In both cases, there is a solution: career coaching
To offer this position with high responsibilities, you have two solutions: look for new talent or offer a promotion to one of your employees.
External recruitment: something new for your company
Our executive search consultants can assist you in identifying, qualifying, evaluating and recruiting high potentials for your strategic functions in order to carry out the identified assignments. In synergy, our certified coaches can accompany the hired candidates in a second phase, as part of a coaching service for taking up the position. In this context, a bipartite or tripartite contract allows us to contribute to the success of the integration and the assumption of the position by adopting good practices and attitudes.
Internal mobility
It is also possible to promote a talent within your company. Perhaps you haven’t thought of that trusted employee who knows the ins and outs of the company? He or she could play the role perfectly, rather than a new person who has to learn everything about the company.
But your employee could be perfect if he or she had all the skills needed for the job. There is a solution: career coaching. We will help him or her to take stock of his or her background and skills. But we will also analyse with him his different possible options, study the different ways to get there and build a real action plan.
You may also be interested in this article: Onboarding process – How to successfully integrate new employees?
