Succession planning is about preparing organisations for likely or inevitable changes now, in order to minimise challenges later. The main goal of succession planning is to smooth the transition as Board Members leave the Board and ensure that vacant positions are filled and Board Members skills gaps are addressed.
It is important to think not just in terms of Board of Management Members, but also Sub-Committee membership, and the posts of Chairperson, Vice-Chairperson (including Sub-Committees) and the Company Secretary.
The Association’s Succession Plan aims to secure the long-term viability of the organisation. As such the issues it addresses include:
- Anticipated growth and change of the Association as detailed in the Corporate Strategy & Business Plan
- Key Board Members skills and competencies that need to be retained and expanded
- Identification of additional skills and competencies that need to be developed/attracted
- Expected and unexpected Board Member retirements and turnover over the 5 year Corporate Strategy & Business Plan period
- Personal development and training plans for Board of Management Members.
Reflecting good governance, the Association’s Board of Management will plan for and have a strategy for its own renewal with recruitment being open and focused on creating a diverse, skilled and effective Management Committee.
The Association, therefore, needs to systematically plan for identifying and training new Board Members to succeed the Board’s departing members, as well as to retain and to prepare its existing Board Members for potential leadership positions on the Board (Chairs, Vice-Chairs etc.) if they so wish.
Given this key strategic link, the succession plan will be reviewed annually as part the Association’s normal business planning and review process.