SUCCESSION PLANNING

Succession planning is an ongoing process to help navigate and successfully manage the replacement of key high performing personnel

  • Key management positions exert critical influence on organizational initiatives and activities. Loss of these individuals has the potential to derail operations and put the organization at risk
  • Vacancies might be planned or unplanned
  • While the Board owns and manages the CEO succession process, leadership in the process is provided by the CEO
  • The CEO owns and manages the succession process for key staff
  • These Succession Plans should be reviewed at least annually

Succession plans make good sense

  • As a governance best practice, it should be a board priority
  • As a human resource best practice, it should be a staff priority
  • When the vacancy occurs, there is a plan in-place to move forward – – – this would be the worst time to start thinking about the issues involved
  • Ensures an orderly and systematic, non-political transition

“Bostrom’s flexibility in staffing to meet the needs of our growing organization has solidified the benefit of the AMC model for us with its ability to expand or retract a wide variety of skillsets when we need to.”

Norman Kahn, MD

EVP & CEO, Council of Medical Specialty Societies