Business is one of the challenging task for people and organizations if they don’t have plan for leadership pipeline development. Who will join next to the current working CEO ?
The answer to this question is Succession Planning Management. The role of HR manager is vital in this context as he or she will be the main link to bring right people with right set of talent to the organization.
Family business runs with individual having traditional values, pre set grounds for decision making and generational work policies . The firms working in corporate structure must work on survival or CEO succession plan. The role of boards will be crucial at all.
In crisis time, we must know who is ready to lead if an existing leader leaves suddenly. This is what succession plan work for .