A very popular cable series in recent years. “Succession” shares the drama around succession in a family business among its senior executives. Most companies’ succession issues are not so dramatic but are no less important if the event that a member of the senior executive team retires or becomes incapacitated.
Equally important, however, for the continuity of your organization is the succession plan for your employees at lower levels in your company.
Here are two great resources to being addressing what Peter Drucker once said was the CEO’s most important job.
First, Vistage Employment Law Speaker has a few words of advice and warning before you have conversations with your teams about their work futures. Check out his latest “Take 5 with Hunter” on Succession.
Next, hopefully Mr. Lotts’s video will whet your appetite to learn more about succession. Vistage Research recently published The CEO’s Guide to Building the Leadership Team of the Future. In particular, it urges CEOs to plan for three succession scenarios: operational, aspirational and transaction. This is available to non-members as well.
Are you and your firm ready?
