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Life after Boris is a quick-to-read fable that should encourage any
partner - or indeed anyone aspiring to partnership - in a
professional services firm, to make sure that the succession
planning issue is addressed in their firm. It seeks to demonstrate
that with good planning, collaboration and proactive discussion,
options can be found that will be acceptable to all. Without such
an approach, the consequences could be serious. Succession planning
is not inherently difficult or intellectually complex. It does,
however, strike many raw nerves, both with those who are currently
at the top of their firms and are contemplating retirement (or
not), and also with those in the early stages of their careers who
are anxious to know what the future holds for them in their current
firm. The frustration, of course, is that many stakeholders in the
succession planning process (of which there are far more than one
might originally envisage) rush into decisions because of the
apparent lack of a succession plan, thereby simply exacerbating the
problem for all the other stakeholders. It is therefore critical
that all firms, and the stakeholders within those firms, address
the succession planning question before it becomes an issue.
Closing the stable door after the horse has bolted is simply not an
option. Initiating the succession planning process need not
necessarily come from the current leaders. Indeed, their failure to
do so is often at the root of the problem. The bright leaders of
tomorrow have much at stake and although a great deal of tact and
sensitivity will be needed, it is often these future leaders of a
firm who are best positioned to bring about change. In the author's
experience over the last 12 years of working with professional
services firms around the world, one of the most frequently
recurring catalysts for discussion has been succession management.
Firms that got it right developed and prospered. Those that didn't
struggled and often ended up having to merge and ultimately
disappear into oblivion.
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