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Succession Planning in Difficult Times

Presenter: William Rothwell, President, Rothwell & Associates, Inc.


The U.S., and many nations, are undergoing difficult economic times. There is a temptation for managers to cut back on succession planning and talent management efforts. But there is a good chance that, as the stock market gradually improves at some point in the future, burned out baby boomers will cash in. At that point senior managers will turn their eyes to HR and ask for external recruitment to solve talent needs. But, since many companies have also cut back, there will be few well-qualified people to recruit. At that point, talent management and succession will emerge as front-burner issues. Hear some ideas in this session how to avoid this likely predictable pitfall.

What Will You Learn

Upon completing this session, participants will be able to:
-Explain why it is important to maintain a continuous focus on succession planning and talent management even at a time of economic crisis
-Offer predictions on what will happen if a focus on succession is not maintained even in difficult times
-Examine effective strategies for “making the sale” to top managers to maintain a focus on succession planning and talent management in hard economic times


William Rothwell

President, Rothwell & Associates, Inc.

Access Resource

60 Minutes