Succession Planning
The Second Step in Succession Planning-Take an Inventory of Your Succession Bench
In a previous blog, I discussed the need to assess the level of need you have for replacing partners that will retire in the near future. The next step is to determine what the potential for partner level talent you have on your bench. I have consulted with dozens of firms about the quality of…
Read MoreThe First Step in Succession Planning-Assess Your Need for Replacement Partners
The first step in developing a plan for the internal succession of your partners is to develop an understanding of the nature and timing of their replacement. This will provide you with what you need to know for acquiring the necessary talent and developing viable successors. Start with when each partner is likely to relinquish…
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