Succession planning definition

Succession planning means an ongoing process for ensuring the continuation and economic viability of a business over generations of owners or operators. It may include strategies to identify, develop, and empower the next generation of owners or operators, a plan to transfer business and family assets, and arrangements for each generation’s retirement and long-term care. Succession plans are fluid and may be reviewed and updated throughout the existence of the business.

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Succession planning means making the necessary arrangements to ensure that suitably qualified people are available to fill posts which will arise within any specific department over forthcoming years.

Succession planning. The Challenge of What’s Next,” Jan. 2013, page 44 ■ “Planning and Paying for Partner Retire- ments,” April 2012, page 28 ■ “Traps for the Unwary in CPA Firm Merg- ers and Acquisitions,” Aug. 2011, page 36 ■ “Mergers & Acquisitions of CPA Firms,” March 2009, page 58, and “Keeping It To- gether: Plan the Transition to Retain Staff and Clients,” April 2009, page 24 (two-part article) Use ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ to find past articles. In the search box, click “Open Ad- vanced Search” and then search by title. Publication ■ Management of an Accounting Practice Handbook (#090407, loose-leaf; and #MAP-XX, one-year online subscription) CPE self-study ■ Advanced Mergers, Acquisitions, and Sales: Complex Case Study Analyses for place me.” A better approach is to require adequate notice be given for an owner who wants to retire coupled with a clear plan for transition of client management re- sponsibilities. Usually, it takes at least a two-year notice to provide enough time for clients to become familiar—and comfortable- — with a successor. If the new relationship doesn’t stick, the firm has time to assign a new successor. ❖ Closely-Held Businesses (#732868) ■ Making Key Financial Decisions: Practical Tools and Techniques for Making Your Key Financial Decisions (#733835) Conference ■ Practitioners Symposium and Tech+ Conference, June 9–11, Las Vegas For more information or to make a purchase or register, go to ▇▇▇▇▇▇▇.▇▇▇ or call the Institute at ▇▇▇-▇▇▇-▇▇▇▇. Survey reports

Examples of Succession planning in a sentence

• Succession planning must address the loss in numbers, as well as the loss of experience.

• Succession planning and workforce development needs are key to this activity where we provide extensive Modern Apprenticeship provision, work-based learning and up skilling and a range of tailored services for companies and their employees.

• Benchmark/Activity Leads Succession planning is not an issue as most benchmarks/activities have two individuals named for backup and collaboration between the campuses; however, in the event that the individuals named are from different campuses, the project research cluster members will assist with collaboration efforts.

• Inextricable from the Caribbean landscape, she carries the “Atlantic coastline” and the islands in her “coral bones”; yet, her investment in the local cannot be read as provincial or stagnant, as the supernatural Cariwoma moves fluidly between histories and geographies (9).

• Succession planning and leadership development will also be addressed from a strategic view as the organization plans for future changes to technology and growth.

More Definitions of Succession planning

Succession planning means making the necessary arrangements to ensure that suitably qualified people are available to fill posts which will arise within any specific department over forthcoming years. The succession planning is implemented by the management, the Nomination & Remuneration Committee of the Company, the Board of Directors (Board), the Human Resources Department, and the employees themselves.

Succession planning means ensuring a continuous supply of highly qualified candidates to fill the critical or key positions in the company through following a systematic process.

Succession planning means the process for identifying and developing new or current personnel who can replace personnel when vacancies occur.

Succession planning in this policy means making the necessary arrangements to ensure that a suitably qualified person is available to fill the County Attorney position over forthcoming years.

Succession planning in this policy means making the necessary arrangements to ensure that a suitably qualified person is available to fill the Clerk to Council position over forthcoming years.

Succession planning means making the necessary arrangements to ensure that suitably qualif ied people are available to fill posts which will arise within any specific department over forthcoming ye ars.

Succession planning means activities and related planning for replacement of program and organizational leadership.