To retain the talent of two highly experienced team members or leaders, many organizations elevate them to sit side by side. Have them lead together.
Sometimes called co-heads or co-leaders, the strategy itself is often referred to as two-in-a-box leadership. This strategy gives two people the opportunity to lead with equal titles and responsibilities.
The end result is an organization that retains the talents of both individuals, often preventing one of the talented parties from leaving for a similar opportunity elsewhere.
But there are many other advantages of two-in-the-box leadership that make it worth considering. Chief among the benefits is the access afforded to team members and customers or clients. With two leaders sharing the oversight for a team or enterprise, they offer twice the contact time for key stakeholders. When one is unavailable, the other is a likely option. This is true when the leaders travel, as well. When one is out of pocket, the other should be available for emergencies or problems that arise.
Of course, the combined skills of co-heads allow them to surround any problem, decision, or issue with a myriad of views, experiences, and insights. In the ideal, the two leaders will possess complementary talents that add more value to any situation than just one leader would.
Not all situations are ripe for two-in-a-box leadership. Occasionally, conflicting agendas, oversized egos, and jealousy over who will eventually get the next promotion can undermine the idea of shared leadership. But in complex organizations with lots of moving parts and people, it allows for two leaders to oversee the entanglements that can overwhelm a solitary leader.
Shared leadership will continue to be an attractive choice in the right settings and organizations. We have long been taught that two heads are better than one. This is only true if together the two are smarter, not just more self-important, than one.
What can you recommend to do to ensure alignment between both leaders? To me the situation is a bit like in families where the kids know exactly which parent to ask for what if they want to get their wishes fulfilled.