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Succession Planning Needs Strategic Planning First

Where will your company be in 3-5 years, and who will be running it?

Succession planning needs to start with strategic planning. First, ask:

  • Where do you want to be in 3-5 years?
  • What might the world, industry, company and world look like in 3-5 years?
  • What departments, roles and skill sets will be necessary between now and then?
  • Who’s going to be in those roles?
  • What will the organization’s strategies be then?

So, if there was ever a question about it, training and development of your employees is not a luxury, because… 

  • someone eventually has to replace you and your senior managers
  • …if they learn to take on more responsibilities, you’ll get to do other things (or less of everything!)
  • …they want to get better and have a career path
  • …if you don’t improve their skill sets, their next employers will

How do you start planning for all of that NOW?