Succession planning in business organizations is a deliberate and systematic process that leaders use to identify, develop, and prepare individuals with leadership potential to assume a higher level position. Implementation of succession-planning practices supports organizational culture and strategic direction. It also improves competitive advantage, secures the tenure of high performing personnel, rewards loyalty, and reduces the risk of turnover.
Many healthcare organizations lack a formal succession-management plan, which means they are not prepared for the migration of key leadership personnel. This is particularly unsettling in the broad context of healthcare reform and impending retirement of seasoned leaders. Now more then ever, succession planning needs to move to the forefront of healthcare organizations strategic initiatives. The challenges faced by leaders in the healthcare industry are daunting. Hospital leaders who benefit from succession planning are better prepared to meet these challenges. M. A. Ponti & Associates will work with you to develop a comprehensive and effective succession plan that will help prepare top performers to assume next level positions, leverage the intellectual capital in your organization and lead into the future.