If you’ve ever settled in for an episode of the HBO hit “Succession,” you can’t help but feel the tension around the boardroom table as each character grapples with their lineage and legacy. Just like in the show, navigating succession planning in real life can be a minefield! Having worked in companies that prioritized this crucial aspect and those that didn’t, I’ve seen firsthand the stark contrast: one thriving amidst chaos, the other languishing in uncertainty. A recent report from 2023 highlights a pivotal timeline in professional life — three years— after which top talent starts contemplating their next career move, often looking elsewhere for opportunities. I’ve certainly felt that push myself; if there’s no clear path for progression, I’m left wondering if I’m truly valued. So how can you ensure you’re not caught off guard, like the Roy family? Developing a solid succession plan can pave the way for smooth leadership transitions, boosting morale and positioning your team to tackle whatever challenges lie ahead. Join me as we dive into the nuances of succession planning and equip ourselves for the road ahead! LEARN MORE.If you’ve seen the award-winning HBO show “Succession,” you know how dramatic and challenging it can be to adequately succession plan for the next generation of business leaders. I’ve personally worked at companies that took succession planning seriously, and those that didn’t, and the difference was stark.
According to this 2023 report, “three years is the critical tipping point when valuable leaders consider whether they should look for their next opportunity internally or externally.”
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