Executives at your organization will inevitably leave your company at some point in time, whether through traditional attrition, retirement or simply to change places within your company. The question is, do you have a plan to replace them? Do you know how important succession plans are?
Creating a succession plan for your organization can be a difficult and daunting task to complete. If you’re struggling to perfect a succession plan for your organization, check out these 7 Rules to Create a Successful Succession Plan.
Executive level employees all leave their companies at some point, regardless of whether it’s due to retirement, resignation or poor health. Turnover among global CEOs has been reaching record levels, and each year about 10% to 15% of corporations must appoint a new CEO. If you are among the companies not happy with the impact of your succession planning process, you are not alone. Here are 7 practical ideas to help you get more out of your organization's succession planning efforts.
Succession planning means investing in individual and organizational development, but sometimes succession plans derail as talented individuals leave your organization. The natural response is to improve employee retention strategies, right? But the real issue behind failed succession plans is that they need adequate leadership development and employee retention strategies to thrive.