Succession Planning - Getting it Right

Succession planning is a key focus for organisations across the business landscape as they strive to create a seamless transition between leaders and secure the future of their business.

Whether the organisation is family owned, a PLC or somewhere in-between, it’s imperative that a well thought through succession plan is in place. Below are some of the key factors we advise our clients to consider when it comes to succession planning.

Plan the career path

Future leaders require a clear path to walk down. Regardless of their position in the organisation, those within the succession plan should have a transparent route and understand the timescales in which they should anticipate reaching the end goal. Investing time upfront and along the way to review and re-calibrate all parties’ expectations through regular meetings will be time well spent. In addition, designing a bespoke development programme with each individual with a 360degree input will provide a clear roadmap for succession.