Succession: The Questions to Care About

Track and field athletes passing relay baton. Studio shot over white.BONUS CHECKLISTS: 5 rules to govern a succession plan. 8 keys to an effective compensation system.

By Bill Reeb and Dominic Cingoranelli

We’ve seen a lot of frequently shared, misdirected advice on commonly discussed succession issues. We would rather stop focusing on symptoms and start focusing on resolving the root cause issues that a good succession plan should address.

MORE ON PERFORMANCE MANAGEMENT: 7 Succession Questions to Ignore for Now | Hazards of Not Reallocating Equity | Develop Your Employees or Suffer the Consequences | How to Target What Skills to Develop Now | What Having Your Employees’ Backs Means

Our solution: The Robust Succession Framework

First and foremost, good succession management is a function of good business operating practices. Over and over, we find successful firms – including many that have even effectively retired partners in the past – that are overlooking some very important best practices.