6 Tips to Developing a Succession Plan

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Succession planning has come a long way from the days when it usually meant simply putting names in boxes on organisation charts. Effective succession planning has evolved to a process by which successors are identified for key positions, and career development and associated activities are planned accordingly. Here are the key steps in developing an effective succession plan... 1. Decide on the depth of your succession plan. Although the most common model for corporate succession planning focuses on the most senior jobs in the organisation (the top two or three tiers), a broader-based model where a similar philosophy and processes are applied to a much larger population (managerial, professional, and administration) is becoming popular. Sustaining the devolved model will require continued support of a committed management, so that identified successors will embrace the priority given to this process. 2. Identify the specific qualities you seek in suitable candidates. Whatever you [...]