Account for Unseen Emergencies When Succession Planning

May 8, 2020 | Hometown health Michelle Cassabaum, FACHE, COO/CFO, 21st Century Rehab,

Earlier this year, when I signed up to write a short article on my thoughts on succession planning, COVID-19 was an unfamiliar term in my vocabulary. However, during this pandemic, I have learned a key lesson about planning as it relates to both business continuity and succession planning.

In reality, both are essential to ensure continuity in the management and daily operations of any organization. This pandemic does not discriminate based on one’s job title, as CEOs and key officers are not immune. Companies need to adopt a succession plan that accounts for unseen emergencies as well as thoughtfully considering the long-term future of the organization.

The planning process should identify successors along with interim personnel and how duties and responsibilities among existing personnel can be shared in the event that certain personnel become unavailable.

This pandemic has provided many organizations an opportunity to adapt, adjust and innovate. As they look at how things have always been done and evaluate their processes, they also need to reevaluate their succession planning.

This pandemic may provide a different lens to view your organization. Use this time to reflect and determine how you can best achieve your vision by making succession planning a key component to the future success of your organization.