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Topic: Succession planning

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In the News (Mon 19 Aug 19)

  Executive Succession Planning - Graziadio Business Report
Succession management serves as an interface between the human resource function and the strategic direction of an organization.
At PanCanadian, the CEO is the key sponsor for succession management, and a senior management committee of vice presidents steward the process at the corporate level.
Succession management identifies and monitors various talent pools within the organization to match the future needs of the organization with the bench strength of available talent.
gbr.pepperdine.edu /021/succession.html   (1851 words)

 Succession Planning
Organizations use succession planning to prepare for future vacancies in the organization chart, due to employees moving out or moving up within the organization.
Succession planning identifies candidates for each included position, and helps the employer plan for the development of these candidates, so they can move into their new positions smoothly when the time arises.
Succession planning is also a key component of programs some employers use to develop "fast track" employees, those who are felt most likely to assume leadership positions over time.
www.sdmindo.com /Succession.htm   (311 words)

 CIPD - Succession planning   (Site not responding. Last check: 2007-09-17)
A further problem with traditional succession planning was that it failed to take account of non-managerial roles – a brilliant scientist, for example, who might be crucial to the future of the organisation and who wanted to stay in a research role.
defines succession planning as 'a process by which one or more successors are identified for key posts (or groups of similar key posts), and career moves and/or development activities are planned for these successors.
Those responsible for succession planning need to know as much as possible about the future of the business, how it is likely to change, and how such change might affect the numbers involved and the skills they need to possess.
www.cipd.co.uk /subjects/hrpract/general/successplan.htm   (1822 words)

 Begin Succession Planning Now
Succession planning is the ongoing process of ensuring the continuation of the family business.
It is not retirement planning for the current operators, but their retirement plans are important to successful succession planning.
Succession planning is a process that requires time (five to 15 years) and effort by many.
www.noble.org /Ag/Economics/SuccessionPlanningBeginNow/index.html   (649 words)

 Succession Planning
A succession plan policy is a tool to help an organization be prepared for planned or unplanned absences of the director, clarifying authority and decision-making, and thereby maintaining accountability and ensuring stability.
Plan to appoint interim leadership to ensure smooth operations and compliance with contractual obligations.
Review the organization’s business plan and conduct a brief assessment of organizational strengths, weaknesses, opportunities and threats to identify priority issues that may need to be addressed during the transition process and to identify attributes and characteristics that are important to consider in the selection of the next permanent leader.
www.transitionguides.com /eds/succession.htm   (822 words)

 Summit Advisory - Succession Planning Services for Family Business Succession Planning
It is true that every good succession plan should have a contingency in the event of a premature death.
But, the primary focus of our Succession Planning model is developing a lifetime leadership transition plan, which will assure the success of the business and the family for many generations to come.
The most important goal to be addressed in succession planning is whether to keep the business in the family, or sell it to a third party.
www.summitadvisory.com /family_planning.htm   (1555 words)

 Succession Planning
Succession planning refers to the ongoing development of potential successors to ensure a smooth transition and minimum loss of efficiency when management vacancies occur.
Many financial and strategic management experts believe that planning a succession strategy or dissolution strategy for a partnership is just as important as planning for the growth of a new company.
Effective succession planning involves building the value of the business during your period of ownership and management, and having a plan in place when you are ready to step down.
www.nfib.com /page/successionMG.html   (512 words)

 TVA: Leadership/Succession Planning   (Site not responding. Last check: 2007-09-17)
This practice defines the leadership/succession planning process which will be utilized to ensure that TVA can fill key organizational positions with qualified internal candidates, in advance of actual need, and to assist in managing diversity and workforce planning.
Succession planning candidates will be assigned mentors who will guide and assist the candidate with his/her development.
The Leadership Planning Boards will meet quarterly or as needed to ensure that candidates are progressing in accordance with their developmental plans.
www.tva.gov /foia/readroom/policy/prinprac/intstaffplan1.htm   (517 words)

 Why is succession planning important? | HR and Training
Succession planning is nothing more than having a systematic process where managers identify, assess and develop their staff to make sure they are ready to assume key roles within the company.
Succession planning is one of those initiatives that many companies don't find the time to start until it's too late -- if you don't address succession planning now your organization may end up facing the burden in the middle of a crisis.
Succession planning is not something a well-run company can ignore because the consequences of not being prepared to replace key personnel will have a major impact on an organization's ability to achieve its goals and strategic targets.
www.ameinfo.com /59276.html   (1396 words)

 Compass Points: Featured Article
Succession planning is much more important than the time many companies devote to it would indicate.
Succession planning is a part of the process of preparing for the future of your company.
It may not be vital to have a succession plan for every position in the company, but certainly there are some key areas of responsibility which must be considered.
www.strategyletter.com /cp_0100/cp_fa.asp   (1980 words)

 Succession Planning
There are compelling reasons to develop a feasible succession plan, and the need becomes essential over the next few years as an increasing number of business founders from the baby-boom segment approach retirement age.
Succession planning is not a phenomenon that occurs at only the top level of an organization.
Effective succession planning also requires good communication and conflict-management-and-resolution skills, which are critical for maintaining family harmony and control of the organization.
www.hankinbank.com /mergers_acquisitions/succession_planning.html   (5878 words)

 Succession Planning Slip sheet
Succession planning ensures that there are highly qualified people in all positions, not just today, but tomorrow, next year, and five years from now.
Succession planning establishes a process that recruits employees, develops their skills and abilities, and prepares them for advancement, all while retaining them to ensure a return on the organization's training investment.
With good succession planning, employees are ready for new leadership roles as the need arises, and when someone leaves, a current employee is ready to step up to the plate.
www.opm.gov /hr/employ/products/succession/succ_plan_text.htm   (309 words)

 Succession Planning Software for HR Management
Succession planning, along with workforce management in general, is increasingly regarded as a growing influence in determining the success of an enterprise.
The important thing is to build a succession plan which is ongoing and durable rather than something which you just look at during the annual planning process.
Succession Wizard enables you to control succession planning and resolve areas of concern quickly.
www.successionwizard.com   (733 words)

 Succession Planning Tips
Many business leaders are too busy to think about succession planning until some kind of crisis comes along that gets their attention.
The "how" of succession planning is critical and, generally, requires some outside help to create an action plan to move forward.
Succession planning should be more than a well written binder on the shelf.
home.att.net /~coachthee/Archives/successionplanning.html   (646 words)

 Clifton Gunderson LLP - Services - Succession Planning
Developing and implementing a well-designed succession plan is essential to the survival of a family business from one generation to the next.
Clifton Gunderson's succession planners work with you and other parties to ensure that this issue is addressed and settled in advance.
We would be happy to show you how our succession planning services can be of particular value to you in your own personal financial planning.
www.cliftoncpa.com /Services/SuccessionPlan3.asp   (546 words)

 Golf Business Magazine - The Golf Industry's Leading Business Publication
Succession planning doesn’t have to be feared with the proper approach to the future management change.
Succession planning is actually an ongoing process in which you anticipate, and plan for, the retirement or departure of important individuals throughout your business.
From the standpoint of financial planning, working in tandem with these taxes is the “gift tax.” This is intended to prevent large estates from avoiding taxation by lifetime giving.
www.golfbusinessmagazine.com /thinktank.asp?doc=1331   (1204 words)

 Succession Planning: It’s Not Just for Your Executive Team
Succession planning tools can be provided separately or as part of a larger set of business applications.
A strong succession planning solution should allow an organization to keep track of upwardly mobile employees, optimize performance across the board, build effective and efficient teams in real-time, address team strengths and weaknesses, and increase competitive advantage and plan for long-term organizational health.
While it is clear that succession planning is vital across the organization, for individuals within the workforce, the benefits are significant as well.
www.learningcircuits.org /2005/mar2005/miller.htm   (1815 words)

 Succession Planning   (Site not responding. Last check: 2007-09-17)
Succession planning is planning for what will happen to children and young people after their parents have died.
Benefits of succession planning projects include increased appointment of guardians, improved disclosure of positive HIV test results to children and increased use of wills.
Succession planning is seen as part of that strategy.
www.ovcsupport.net /sw2415.asp   (863 words)

 Succession Planning and Organizational Development
The key to any organization’s success is the right people in place to lead tomorrow immersed in the organization’s values so they can sustain the culture.
Succession planning has also been identified as top factor for employee retention.
The execution of a successful succession plan will require that measures be in place to determine which individuals are best prepared to perpetuate the organization's DNA code.
www.kmsi.us /white_paper07.htm   (928 words)

 Succession Planning - Management - Management Portal
Succession planning, as it is constituted today, is a hotly debated but generally ignored practice in corporations and businesses.
Succession planning, like any business acumen, is both an art and a science.
One of the reasons little forethought is given to succession is evident in the fact that it rarely shows up in corporate business plans.
www.themanager.org /Knowledgebase/Management/Succession.htm   (586 words)

 Succession Planning
And as you might expect, it is often the planning work of any sort that's at the bottom of the to-do-list.
Nevertheless, Succession Planning is very important and with a little planning and focus, blended with your appreciation of your people's talents and potential, this really is worth spending time on.
Whilst it would be easy to take one career path, in cases where individuals are nurtured for a bigger involvement, organisations where Succession Planning is held in high regard 'shuffle' people, sometimes out of context to broaden their skills.
www.coaching-businesses-to-success.com /succession_planning.html   (1200 words)

 Planning for Succession
Succession is a process requiring planning, teamwork, and constant re-evaluation.
Planning for succession in a family business is a special situation of the first order.
If the business of succession is not done by process (through planning), it will be done by crisis (a failure to plan), with perhaps disastrous results.
www.uschamber.com /sb/business/P11/P11_1100.asp   (476 words)

 Succession Planning Recommendations
When succession planning is allowed to play out at the micro rather than macro level, that objective is difficult to achieve.
Resistance to group succession planning, especially if it's a new process, often comes from executives who are nervous about looking good to the group.
Setting up a separate succession plan for jobs that have a unique set of requirements and don't obviously fit into a pool could set an unfavorable precedent.
www.ayers.com /consultcorner/consultants_corner_16.html   (695 words)

 Succession Planning - Performance Management | Profiles International
Succession Planning is an important part of a company’s workforce performance management system.
The hallmark of a great leader is one who sets his or her successors up for success, rather than failure.
To ensure your company’s long term success, it is important, as a part of your company’s workforce performance management system, to think about career tracks for your employees that will match them with duties and responsibilities that maximize performance, employee morale, and company success.
www.profilesinternational.com /SOL_SuccessionPlanner.aspx   (510 words)

 Succession planning - Wikipedia, the free encyclopedia
In organisational development, succession planning is the process of identifying and preparing suitable employees, through mentoring, training and job rotation, to replace key players (such as the CEO) within an organization as their terms expire.
With the Sarbanes-Oxley Act of 2003, succession planning in the USA has risen in importance as a corporate governance issue.
A succession plan clearly sets out the factors to be taken into account and the process to be followed in relation to retaining or replacing the person.
en.wikipedia.org /wiki/Succession_planning   (303 words)

 ITworld.com - Succession planning preps IT staff
Succession planning is so important to the Richmond, Va.-based financial services company that the issue is brought up during new employee orientation.
To develop the company's succession plan, Siegel examined what other companies were doing and then borrowed their best practices.
Succession planning is the anchor for that," according to Siegel.
www.itworld.com /Career/4048/IWD010507casuccession   (1799 words)

 International Succession Planning Association Home Page
The vision of the ISPA is to be the global resource for succession planning technology by providing unique succession assessment and facilitation tools to family business owners, manufacturers and vendors that will facilitate the achievement of their respective goals.
We believe the succession assessment can be a motivator to business owners to take action, as well as a versatile tool for the business community, to determine the exposure to the succession problems of their manufacturers, franchisers, distributors and customers.
The ISPA’s mission is to strategically improve the process of succession assessment and planning through unique technology that will efficiently and economically impact succession planning information to manufacturers, vendors, business owners and succession planning professionals.
www.ispassociation.org   (114 words)

 Planning for Succession, Exit Strategies Article - Inc. Article
Succession planning is, to some, an admission of their own mortality.
Whether you're the spry young age of 28 and just starting up or 55 and looking for early retirement, a succession plan should be on your mind if you want to see your business succeed.
"I'm 38 years old, and I have a succession plan already," says Robert Bradford, CEO of the Center for Simplified Strategic Planning (www.cssp.com), a consulting firm focusing on strategic planning for small- and mid-sized businesses, in Ann Arbor, Michigan.
www.inc.com /articles/2001/10/23547.html   (1211 words)

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