Change is a constant in business. Every company experiences a variety of ebbs and flows, including people shifting in and out of various roles. Vacancies are a common occurrence in nearly every organization, and occasionally a critical one will be sitting vacant. That can have a significant impact on business, particularly if you don’t have an effective succession planning strategy in place.
Succession planning involves more than just choosing a potential successor. While that can be a component, figuring out how critical duties will be covered should an employee move on or have a significant change in responsibilities is also a vital part. Additionally, determining which roles need that degree of coverage is also a core consideration.
If you want to make sure you have an effective succession strategy in place, here are five tips that can help.