Succession planning was created to ensure your company is prepared for the future.
When an owner or key employee, i.e., you as the leader of your organization, may or may not already have someone in mind to fill their position, the organization has time to groom a replacement and prepare for this change in leadership.
Succession planning allows an organization to continue to move forward during periods of change.
A well-crafted succession plan can help an organization:
- drive competitive strategy
- reinforce core values
- successfully secure their future in many ways