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CEO Succession Planning: Your 2024 Comprehensive Guide (+Free Template)

AIHR

CEO succession planning is more important than you may realize. The researchers estimate that better succession planning could help the large-cap US equity market achieve 20% to 25% higher company valuations and investor returns. Contents What is CEO succession planning?

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Free Succession Planning Template and In-depth 2024 Guide

AIHR

Formulating a succession planning template helps to define the purpose and key components of your succession plan. This detailed template can help you chart primary functions and orientate your organization’s succession planning journey. Contents What is a succession planning template?

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How to Overcome These 7 Succession Planning Challenges

AIHR

Succession planning is a complex process, especially in the fast-changing economic environment that we find ourselves in. To help you successfully guide your organization through these dynamic times, let’s take a look at the most common succession planning challenges and how you can overcome them.

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Succession Planning: Essential Guide for HR

AIHR

Succession planning is essential to ensure critical roles in a company are not left vacant for extended periods or filled by people who don’t have the skills or knowledge to perform in the role. That means that over half of the organizations the surveyed HR professionals work at didn’t have a plan.

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13 Practical Performance Management Strategies To Implement (In 2024)

AIHR

Managers then meet with employees regularly to discuss performance and goals, providing real-time feedback and ensuring accountability. Greater readiness for succession planning: Regularly monitoring performance gives companies a better understanding of skills gaps. Employees are the most important resource in any organization.

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What is Succession Planning and Why is It Important?

BetterUp

Therefore, succession planning is vital to minimize gaps in leadership positions. But succession planning is more than simply bridging the gap between open roles and leadership positions. In many ways, succession planning is about leadership development to make sure your workforce can reach its fullest potential.

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Do Your Direct Reports Have Leadership Potential? 14 Signs They Do

Lolly Daskal

Identifying leadership potential within your team is a crucial aspect of effective management and succession planning. Recognizing future leaders early allows for targeted development, ensuring a robust pipeline for your organization’s leadership succession. Leaders take responsibility for their actions and decisions.