The best time for organizations to have a succession plan in place is yesterday. The next best time is NOW.
Business growth and expansion, promotions and transfers, medical leaves, resignations and terminations, retirements and deaths, are but a few of the factors that cause positions to become vacant in an organization. While many organizations fail entirely to articulate plans for filling such gaps, some plan informally and verbally for succession for many roles in the organization. The importance of a proactive pursuit of business continuity and succession planning by organizations has been further elevated by the business implications of the Covid-19 pandemic.
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