Any business of any size needs a succession plan. A Succession Plan is the formal process businesses use to assure the orderly and planned transfer of function, power, and accountability when executives or managers leave the company because of death, retirement, resignation, or other means.
Businesses succeed best when they have the right people in the right place. They have the talents needed for the company to meet its long and short-term strategic goals. So, planning for that continuity is vital.
A plan needs more than a sequence of steps. It must recognize the organization as an organism with ebbs and flows. And, it must provide the means to navigate the system.
Co-founder and General Manager,
@ People Managing People
Founder and President,
@ J.E. Thomas and Associates
Human Resources Manager,
@ Ilara Health
Co-founder & CEO