Executives emphasize succession planning - Your Life - Paul McDonald - Brief Article

USA Today (Society for the Advancement of Education), May, 2003

Executives plan for many contingencies to protect their businesses, including who will one day fill their shoes. In a survey by RHI Management Resources, a national consulting services firm providing senior-level accounting and finance professionals on a project basis, they confirmed the value of identifying and grooming a successor. Seventy-two percent of those polled said they are currently preparing someone to take their place.

"Succession planning lays the groundwork for a smooth transition when a manager is ready to take the next career step or in the event he or she leaves unexpectedly," indicates Paul McDonald, executive director of RHI Management Resources. "At the executive level, it can take years to adequately prepare someone to take the helm."

To ease the process, he recommends that top candidates be included early and often in planning and strategy discussions and be given opportunities to lead high-profile meetings to gain visibility. "Potential successors also need to enhance soft skills such as communication, leadership, negotiation, and diplomacy."