designating key positions and processes for your business for when you can't run it
A corporate succession plan is a document that identifies those in critical positions in your organization, ensuring the right people are left with the right power in the event of your inability to run your own business or your death.
Succession plans strengthen your capability over time to:
- Identify the critical positions in your organization
- Select the proper skills necessary for those inheriting or taking future positions in your company
- Focusing the development of key individuals on helping you meet future business goals for years to come