“Succession Planning Doesn’t Start with People. It Starts with the Requirements of the Position.” – David Ulrich
Succession Planning is a process to identify employees from within the company, for leadership or any other kind of key roles in the company.
A survey conducted by National Association of Corporate Directors (NACD) found that 2/3rd of U.S. public and private organizations do not have formal succession plan to fill in the leadership positions.In the absence of a well-structured succession planning process, organizations tend to risk leadership deficits and business disruption.
To know how an organization can avoid running into such risks, look at the infographic.