Having a solid management succession plan in place, well before retirement is near, is absolutely critical.

Question

Quizplus · Accepted Answer

A solid management succession plan helps ensure that there is a smooth transition when a key leader retires or steps down, reducing the risk of disruption to the organization's operations and overall success. It takes time to identify, develop, and prepare potential successors, so it's best not to wait until retirement is close to start the process.

Having a Solid Management Succession Plan in Place, Well Before