CEO Transitions – Succession Planning
Having a plan in place for when a CEO leaves is no longer an option, but an operational necessity.
An organization must consider the possibility of losing a top employee. Just envisioning a scenario is not enough; they also need a viable action plan to prepare for such an event.
An organization must have a viable succession plan in place. No team can accurately predict when the need to replace a star player will arise, but every team can prepare for such uncertainty by having an emergency plan.
No one can predict the future, but what can make a difference is how your organization prepares for the uncertainties it will face.
This article also identifies five trends and opportunities in CEO transitions.
See Backup Plan, by Enye He, Ph.D. and FCII, for Risk Management Magazine.
