Succession Planning

Succession Planning has long been an important process. But, it has never been more important than now, with increased emphasis on risk management and difficulty in attracting essential executives. Boards of Directors are insuring CEO succession and questioning management and Human Resources about their succession planning for all key executives and high potential employees.

Key Steps in Succession Planning:

Using your organization's strategic goals, identify the roles that need identified successors, the external business climate, and the organizational culture required by these goals.

Define the competencies and expertise required to perform these roles.

Evaluate your current internal culture and the strengths and weaknesses of your current executive talent. Also, identify high potential employees' career aspirations, skills, and competencies. This is usually a combination of assessment, interviewing, and past performance evaluations.

Having determined future needs, and current executives' strengths and behavioral preferences, prepare development plans for executives and high potential employees using education and training, coaching, mentoring, and stretch assignments.

Track progress annually towards succession development.