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Succession Planning: What You Need to Know

When to Start Succession Planning? NOW!

People ask me all the time when they should start doing succession planning. They are generally asking “how many years before the executive retires should they start doing succession planning.” Well, executives don’t always retire from their organizations. They leave for various reasons. That means it’s important to do succession planning NOW!

Why is succession planning important?

  1. Because you are going to have turnover.
  2. To ensure you have bench strength.
  3. To give people the motivation to stay and grow with your organization.
  4. A formal process ensures there is emphasis on needed skills.

In this video, I tell you the four things you can do to be ready for executive turnover.

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