Business Succession Planning For Dummies

While the demand for effective managers continues to grow, the retirement of baby boomers is producing a sharp decline in the ranks of available management personnel. In addition, the executives of the future are expected to be more sophisticated in order to develop and lead new global and technological initiatives. For these reasons, strategic and often long-sighted succession planning for the eventual replacement of managers at all levels has reached a critical level.

Business Succession Planning For Dummies aids managers, human resource professionals, and upper management in cultivating and retaining their existing employees to ensure the availability and capability of persons to assume leadership roles in the future. In plain English, it prepares business owners to ask the difficult questions when it comes to developing a working succession plan for their businesses key positions. This book also offers information on how to retain and train personnel within an organization so that a more seamless transition can be made when a senior leader or other important personnel retires or leaves the organization.

• How to retain and train personnel for a more seamless transition
• Easy-to-follow guidance on developing a working succession plan
• Tips to create a plan to save time, money, knowledge, and clients by hiring from within

If you're a manager or human resources professional looking to develop a working succession plan, this hands-on, friendly guide has you covered.

Introduction 1

Part I: What Is a Succession Plan, and Why Do You Need One? 5

Chapter 1: Sowing the Seeds for Long-Term Success 7

Chapter 2: Why Succession Planning Matters 19

Chapter 3: Pinpointing the Right Type of Plan for Your Organization 33

Part II: Creating a Plan and Putting It into Action 47

Chapter 4: Preparing the Plan: Six Steps to Success(ion) 49

Chapter 5: Implementing the Plan 67

Chapter 6: Evaluating the Plan’s Implementation 81

Chapter 7: Overcoming Obstacles in Implementing Your Plan 95

Part III: Diving Deeper into Succession Planning 113

Chapter 8: Covering Key Positions in Your Succession Plan 115

Chapter 9: Figuring Out What You Need in a Successor 129

Chapter 10: Identifying and Developing Successors within Your Organization 147

Chapter 11: Aiming for a Smooth Transition 163

Part IV: Keeping the Succession Ball Rolling 181

Chapter 12: Making Great Exits 183

Chapter 13: Maintaining Your Plan in Today’s Changing Workplace 195

Part V: The Part of Tens 213

Chapter 14: Ten Mistakes That Sabotage Succession Plans 215

Chapter 15: Ten Ways to Keep Your Succession Plan Alive 223

Index 231

Arnie Dahlke is an independent organizational consultant, assisting both private (for-profit and nonprofit) and public organizations. His clients include Chevrolet, Saturn, Coca-Cola, Gelson's Markets, and Northgate Markets. He provides courses and seminars across the country for all levels of learners.