Succession Planning

Succession Planning helps ensure business continuity and performance, particularly during times of shifting leadership and change.

• Identify critical positions: Determine which roles are essential to the organization's success and would significantly impact operations if left vacant.
• Develop position profiles: Clearly outline the responsibilities, required skills, experience, and leadership qualities for each important role.
• Identify a talent pipeline: Look at both internal and external talent pools to find individuals with the potential to step into these roles in the future.
• Nominate successors: Choose high-potential candidates who align with the organization's culture, values, and long-term goals.
• Create an action plan to train successors: Provide targeted development opportunities such as mentoring, job shadowing, leadership training, and special projects to prepare successors for future responsibilities.
• Continuously evaluate the succession plan: Review and update the plan regularly to reflect changes in business strategy, market conditions, and employee readiness.

For additional help on succession planning, visit the Service Corps of Retired Executives (SCORE).