Why Succession Planning Matters

Did you know that a recent research study found that 50% of companies with revenue greater than $500 million don’t have a proper CEO succession plan in place? This finding is quite shocking, as succession plans are an essential part of growing and maintaining a healthy company or organization. Without succession plans, not only is…

The Key to Effective Succession Planning

An effective succession planning process is essential to all organizations because they are always changing, and CEOs and executives can leave in a hurry. Replacing them can be a lengthy and frustrating process that often takes far longer than any board member might expect. Even companies with a formal succession planning process in place often find…

How Executive Compensation Improves Succession Planning

Executive Compensation packages and succession planning remain unlinked (and separately managed) in many of today’s organizations. Companies that bring the two together, however, are beginning to get some real attention, and there’s a good reason for that. It works. Companies with more incentives tend to perform better overall, and linking those incentives to succession planning…

Grooming High Potential Employees for Leadership

Designing effective succession planning solutions is more critical than ever before given financial pressures and the wave of retirements among most organizations. In our work with companies, we have found that the most effective companies at succession planning do three things: Create a strategic process for succession planning that involves identifying problem areas, gaps, and…