Essential reading from Russell Reynolds for those seeking to manage the fall out of succession and promotion decisions on those that are not ready for the next step in the short term, but who are still key talent for the future. Retaining these “silver medalists” involves both balancing the needs of the organisation with the personal aspirations of the talent pipeline to ensure both a developmental journey as well as a retention strategy.
The following Russel Reynolds article highlights the challenge of retaining “silver medalists”—leaders who were finalists in succession processes but not selected. These individuals are nearly twice as likely to consider leaving, often feeling frustrated, less loyal, and uncertain about their career paths. Their departure risks losing invaluable knowledge and destabilizing leadership continuity.
To counter this, organizations should invest in the growth and engagement of their “silver medalists”. Key strategies include:
- Discussing alternative career paths to keep ambitions alive
- Signaling their ongoing value with constructive feedback, recognition, and tangible development opportunities
- Providing exposure and responsibilities that build readiness for future roles, while fostering strong relationships with successful candidates.
Beyond individual support, intentional succession planning is critical. Development-focused processes, transparency about success profiles, careful candidate selection, and attention to candidate experience will all help reduce turnover risks and facilitate healthy talent pipelines.