Succession Planning and Succession
Succession planning refers to the strategic process whereby an organization prepares for the succession of key leadership roles. This involves identifying, developing, and preparing internal employees to fulfil crucial leadership positions in the future. The goal is to ensure continuity, retain talent within the company, and ensure that the organization can function effectively, even if leaders retire, leave, or are unavailable for other reasons.
Succession Planning is a Continuous Process
The filling of top positions in companies and organizations is not the beginning or end of an executive search process but merely an intermediate phase. It’s not a one-time activity but a continuous process. It provides safeguards in case of an unexpected departure, a transition plan for a managed handover, and a way to develop a pipeline of leadership talent. With a strategy for identifying and developing future leaders within your organization. The transition to and succession of executives play a vital role in a complex and highly volatile world. This requires a long-term orientation that is well connected to the business and the temporary or permanent leadership that goes with it, as well as a clear view of the leadership potential within the organization itself.
Succession Issues Keep an eye on the leadership potential within your own organization.