Diana Davenport of the Commonwealth Fund examines keys points when considering anticipated vacancies in higher leadership positions and how to prepare in the case in order to avoid seeking to fill such slots in an emergency situation.
That very real possibility is also why Davenport directs to build two plans, the first for just that- an immediate vacancy will need an emergency succession plan. It is then advised always to keep a formal succession plan so as to make a leadership transition smooth.
Ultimately, it is the goal to achieve smooth transitions and prevent chaos: internal candidates, preferably, are prioritized and individually prepared over time frames that coincide with a formal plan and backed with an emergency plan. This kind of planning will keep progress and growth the company's directive.
A customized collection of grant news from foundations and the federal government from around the Web.
Ganesh Natarajan is the Founder and Chairman of 5FWorld, a new platform for funding and developing start-ups, social enterprises and the skills eco-system in India. In the past two decades, he has built two of India’s high-growth software services companies – Aptech and Zensar – almost from scratch to global success.