Succession planning challenges: Succession planning may be a low priority

Succession planning may not be seen as a priority and therefore not discussed by the board, committees or senior leaders. As a result, the organisation may have no succession plan in place, leaving it vulnerable when departures occur. 

How can this be addressed? 

• Discuss and prioritise succession planning. Boards should not wait until a situation presents itself in order to address succession planning. Board or committee agendas should include succession planning as a standing item well in advance of the next AGM whereupon changes are most likely to occur.   
• Recognise and be willing to adapt to the evolving needs of the co‑operative as it moves from a start‑up through to the various stages of growth which may require different skills on the board.  
• Establish or allocate responsibility for succession planning. Whether it is a committee of the board or the board itself, ownership should be taken for succession planning in the organisation. Terms of reference should set out the role and remit of the body responsible in relation to succession planning.