Succession Management

Succession Management

Succession management is an on-going process involving boards, the chief executive and senior management. This effort is not just about succession at the top. It’s a continuous process designed to get the right fit for every position.

There are three parts to succession management:

  • Creating a climate for success.
  • Knowing that succession at the top begins when the new person arrives - not when they announce their departure.
  • Finding the right person for each position of responsibility.

The most important thing is "fit." The only way to know if someone fits is to know what you need and want in the first place. Keep in mind that someone who makes a strong first impression can be a poor fit.

The goal is the right person in the right place at the right time.

Hiring is strategy.