There’s something about the end of the year that triggers agitation and activity around planning. Individuals assess their financial and professional outlook, and we see a renewed focus on long-term priorities like estate planning.
I see a similar phenomenon in organizations. Management takes stock of what it has achieved and reflects on strategic priorities for the future. It is at this time that I see renewed energy around succession planning. Leaders turn their attention to the growth and sustainability of the business and seek out strategies to identify, develop and retain talent for future roles.
Once the first quarter of the new year rolls around, however, more immediate business needs often push well-intentioned succession planning efforts aside. This is a common occurrence and leaves organizations unprepared for the challenges that lie ahead.
Succession planning activities must be simple and practical in order to be sustainable. To ensure you set and achieve realistic succession planning goals for 2019, follow my advice in HR Magazine’s latest article, Tomorrow’s Leaders – A Strong Succession Plan Can Strengthen Your Organization, or contact me directly for some year-end counsel.