Having a succession plan in place is critical to the success of any company as it contributes to the stability and sustainability of an organization. Anticipating leadership change and planning for succession is quite simply an integral part of the overall workforce planning within successful organizations.
Succession planning identifies the most qualified leaders
Helps avoid disproportionate salaries and hiring headaches
Helps to maintain brand identity
Alleviates investor concerns
Allows the company to create a long-term map for the future
ALBRIGHT's SUCCESSION PROCESS: