How does leadership change influence succession planning? Why?
A strong succession plan necessitates leadership transition. There is no need for a succession plan if there isn’t a plan in place to replace someone who is transitioning, retiring, or leaving the company—and that is the whole idea of succession planning!
Experienced executives understand that there can be no succession strategy without a change in leadership. For example, if you’re replacing someone who has been in their position for 20 years and you didn’t know they were leaving, it may be difficult to fill their position.
It’s critical to have a succession plan in place if you want your company to survive and thrive in the future. A robust succession plan helps ensure that your firm keeps running successfully even if one of its leaders passes away.