The crucial task of succession planning

WHENEVER the topic of sustainability is brought up, most executives think of the environment and the prudent use of our planet's resources. A less common (but no less applicable) understanding of sustainability is the necessity for businesses to pursue strategies and actions that ensure their longevity.

A key aspect of this longevity is succession planning: the practice of identifying and developing in-house candidates for top executive positions. When properly implemented, succession planning will help ensure an organisation's sustainability.

Yet, while it is usually talked about in passing, succession pl…