An effective succession plan is crucial for any business. However, leadership succession planning is often something that doesn’t get the time and attention that it deserves. When it’s time for the leadership and senior management of a business to change, choosing key people can be one of the most critical decisions an organisation can make. Helping them transition into leadership roles, and supporting them as they continue their journey is equally important.
It’s important to recognise that the most constant thing about business is change and that no business is immune to the risks that change presents to an organisation. From losing top-level organisational knowledge to the escalation of internal power struggles that result in a negative emotional and cultural impact across the entire organisation, failing to implement a clear succession plan can expose a business to unnecessary risk. This is especially important where leadership and business-critical roles are involved.
How BDO’s leadership succession planning specialists can help
Our team of people advisory specialists can provide advice on all aspects of leadership and succession planning, providing you with peace of mind that your new leadership team is just that — the right leaders for your organisation. BDO Australia’s succession planning services for businesses include:
Recruitment and leadership succession strategy
As part of the succession planning process and establishment of new leadership within your organisation, BDO can also help with the recruitment and selection of your next key hire. The business planning specialists at your local BDO office also assist with succession planning for family businesses to ensure the next generation is ready to take control and achieve a suitable balance between the needs of your family and your business.