Succession Planning (An Insight into the Talent Reserve Strategies of Prominent Enterprises)

Author: Li Fei, Zhao Jing (editors)
Publisher:
Publish Date: 2004-01-01
Features: If the CEO of a successful company still hasn't selected and nurtured their successor, the company's strategic thinking weaknesses are exposed. Leaders shouldn't wait for a position to become vacant before considering who to promote, as this will only lead to the company's bankruptcy. Wise leaders should develop a succession plan proactively, ensuring a pool of high-quality individuals is ready to fill key roles in a timely manner. If a company can ensure that a group of well-trained, experienced, and self-motivated talents take over future important positions, this better sets higher goals for the company's key employees, retaining them to ensure that critical roles are always filled by competent successors.