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<a href="http://www.accessmylibrary.com/article-1G1-106014867/you-grooming-your-successor.html" title="Facts and information about Are You Grooming Your Successor? The Finest Companies Always Are.(A)(MANAGING THE SUCCESSFUL COMPANY)">Are You Grooming Your Successor? The Finest Companies Always Are.(A)(MANAGING THE SUCCESSFUL COMPANY)</a>
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Are You Grooming Your Successor? The Finest Companies Always Are.(A)(MANAGING THE SUCCESSFUL COMPANY)
Byline: Pete Barlas
In the fifth century, Attila the Hun built a tribe of 500,000 warriors that became one of the most successful and feared organizations in the world.
But 12 years after Attila's death, the Huns were gone. Attila had failed to groom a successor.
Many big companies have succession plans to replace executives who retire, quit, die or get the hook.
But many others don't. They scramble once a top executive exits, says Nancy Monson of Hagberg Consulting, a Foster City, Calif., firm specializing in leadership training and succession.
"Their succession planning isn't done in a very strategic, formal or long-term" way, she said.
Does that mean your company needs a formal or specific plan? No. What works best for one company won't for another. But you should be thinking about it.
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