Center for Private Company Excellence Seminar: 10 Key Steps in a Well-Crafted Succession and Continuity Plan
10 KEY STEPS IN A WELL-CRAFTED SUCCESSION AND CONTINUITY PLAN
June 11, 2015
7:30am to 10:00am
While 90 percent of companies acknowledge the importance of succession planning, less than 50 percent make the commitment to actually develop a plan.
This seminar took an in-depth look at the 10 key steps to creating a well-crafted succession plan:
- Make the commitment to plan.
- Assess the job description and attributes necessary to be a successful successor.
- Assess your company's bench strength and appraise the performance of potential candidates in their current roles.
- Assess candidates' talents, abilities, personal attributes, and future potential.
- Determine the development programs and experiences candidates will need to enhance their skills and prepare them for succession.
- Evaluate candidates' progress.
- Consider employee retention practices and programs.
- Prepare for false starts.
- Prepare for the implications of transition.
- Continually evaluate your succession planning model.