Succession planning entails identifying critical roles, evaluating skills and competencies, identifying potential replacements both within and outside of the company, and in the case of internal replacements, developing professionals so they’re prepared to step up.
Succession planning is not a one-time event; succession plans should be regularly reevaluated and updated as market and organizational change dictate.
Ankura has deep expertise in developing, executing, and monitoring corporate succession plans, having done so for scores of companies, boards of directors, and private equity firms spanning virtually every industry.
Identifying and retaining key professionals is a complex challenge that is critical to sustaining profitability gains. Ankura has extensive experience helping clients manage talent during times of gradual business evolution or disruptive change. Specifically, we:
These considerations apply whether evaluating an existing management team, or a new one. Ankura’s talent management services help you make the right leadership decisions by addressing tough issues strategically and holistically.