CFO2008. Panel: Unplanned Succession Planning - Lay the Foundation for Success!

Preparing for the unexpected. Or in most cases, preparing for what is expected. Either way, leadership change is inevitable. And how you plan for it determines its impact on you and your organization.  Organizations face constant pressure to build a strong, effective, and sustainable leadership pipeline. Like most strategic planning, this is easier said than done. When it comes to the succession planning process, many organizations are challenged to ensure their succession strategy is flexible enough to meet the needs of the organization and their employees. An adequate succession plan prevents organizations from taking a reactive approach vacancy. Instead, it proactively prepares a smooth transition plan to ensure leadership changes do not interrupt major business initiatives. The planning process and the resulting plan also deliver other benefits, including:

· Motivating employees by creating growth opportunities
· Identifying skill gaps and talent development needs
· Adapting the organization to demographic and talent changes
· Transitioning highly specialized skills into key roles
· Preserving institutional knowledge

Learning Objectives:

• Learn how to build strong leadership pipelines to mitigate departure risks
• When departures happen, discover how to have the structure in place to create positive results