Succession planning is about preparing organisations for likely or inevitable changes now, in order to minimise problems later. The main goal of succession planning is to smooth the transition as Board Members leave the Board. It will make sure 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. These include 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 problems it addresses include:
- Expected growth and change of the Association as detailed in the Corporate Strategy & Business Plan
- Key Board Members skills and competencies that need to be kept and expanded
- Identification of extra 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. Recruitment will be 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. It will keep and prepare its existing Board Members for possible leadership positions on the Board (Chairs, Vice-Chairs etc.).
Given this key planned link, the succession planning strategy will be looked at annually. This is part the Association’s normal business planning and review process.