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Monday, September 10, 2007

Succession Planning: Passing The Torch

According to this article in CareerJournal, giving up command is never easy. But it may prove especially difficult for the large number of retiring baby boomers, accustomed to working hard in a fast-paced economy.

Many aging presidents/CEOs choose to move on slowly, and want to do their part to ease the transition and shape their legacy.

Consider this:
  • More than half of the 50 coaches at Marshall Goldsmith Partners LLC are seeing increased demand from senior leaders for advice on a gradual transition at small employers as well as big, according to the coaching network.
BOTTOMLINE: Succession planning, while often thought of as a CEO-only planning process, needs to be considered for every key position within your firm. Make sure succession planning becomes an integral part of your strategic annual plan.

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