You may think of succession planning as being a leadership development issue, rather than team working issue, and to some extent it is. But in my experience, the biggest mistake companies make in succession planning is to prepare the next generation to take over without preparing the existing leader to let go. This is particularly the case situations where the current leader will be staying on some capacity, such as chairman (a very common scenario in family businesses). Looking at how and when decision making responsibility, control and key relationships will be handed over can mean the difference between a smooth handover and a resentful muddle.
Talk to me today about succession planning.