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Succession Planning

Over the next five to 10 years, shifting demographics and sectoral changes will result in significant turnover at the executive director and CEO level in both profit & non-profit sector. As baby boomers reach retirement, it will have a major impact on the skills and experience available in the workforce, with senior and key positions becoming tougher to fill. This poses both a challenge and an opportunity, and makes succession management one of the most important human-resource practices for today’s non-profit organizations. Effective succession management supports stability, sustainability and success by ensuring the organization enjoys continued access to the leadership it needs—today and into the future. Despite its key role in organizational sustainability, succession management is an issue many organizations ignore. Failing of seeing the benefits of succession management, many organizations will often address the issue reactively—in response to a sudden vacancy, for example—rather than planning ahead for future needs. With careful planning and preparation, organizations can effectively manage the changes that result from a generational transfer of leadership as well as the ongoing changes that occur regularly when key employees leave an organization.

At the close of this session, it is expected that participants will be able to:

  • State what a succession plan is.
  • Explain why it is important to have a succession plan.
  • List and explain the steps involved in developing a succession plan
  • Understand the different usage & functions of assessment instruments
  • Explain different intervention approaches in addressing acceleration development programs
  • Discuss how the plan will be kept current and communicated to employees

CATEGORIES : Human Resource