Future Leaders
Challenge
When assessing our firm leadership population in 2016, we identified the need to create succession plans for our Partners-In-Charge (PIC). Over the next five to ten years, many PICs would be retiring, and a successor had not yet been identified or developed, including our managing partner, Bill Carr. His retirement was anticipated in 2022, but no potential successor(s) had been identified, nor was there a process in place to do so.
Actions
In order to identify and develop a diverse pool of successors for these leadership roles, CRI created its Future Leaders program in 2016. The ultimate objective of the program is to form a pool of trained individuals who could transition into a local (PIC) or national leadership role. High potential Senior Managers and Partners are nominated based on their demonstrated leadership. Managing Partner Bill Carr works closely with the Future Leaders during live sessions and via virtual meetings throughout the year. Furthermore, the Future Leaders participants collaborate on various projects to address challenges within the firm. These projects include: building bench strength, addressing our business model, partner succession planning, enhancing culture, and innovation.
Outcomes
Since the program commenced in 2016, seven PICs have retired from CRI. All seven were replaced with members of the Future Leaders program, and five of those seven were succeeded by females.
Insight
The Future Leaders will have significant influence over leadership selections, as well as over the future structure of the firm. As we continue to develop and advance this dynamic group, realizing the depth and energy that exists among them is incredibly exciting to me, as the managing partner. CRl's future is filled with a varied group of leaders whose experience and ambition will serve the firm very well.