Why Succession Planning?
Are you ready to continue business without interruption after losing a strong and effective leader in your organization? Leadership is and has always been a relatively scarce commodity within companies. First, you need to analyze what has made the business successful. Does that success rely on skills or knowledge of the leader that could leave? Next, you need to look at the future of the company. Where are you going and what skills do you need to get there and once you are there? Is that talent currently in your leadership team? Other important questions to consider are – existing and future market competition, required technology know-how, talent pool of existing employees, and management hierarchy and reporting structure. Answers to these questions can provide the basis for decisions on whether the business can continue without the leader, how it would continue without the leader, who would lead and how ready they are. The recruitment of top talent is too expensive due to the rising
