Succession Planning, Consulting and Search Services
In competitive industries where innovation is everywhere and companies are competing to establish a foothold in the market, careful organizational and human capital planning is crucial. As a result, succession planning has become a hot trend in recent years.
In industries where IP is so important, a lot of knowledge is built up in the human capital aspect of a company. The life sciences, healthcare, pharma, biotech, and medical device sectors are areas where knowledge workers and IP are pivotal to the success of an organization. You cannot risk a gap in succession at key leadership position.
Regardless of sector, the succession planning process doesn’t vary very much, but the key ingredient is time. Companies will wait until a key professional or executive is leaving in 2-3 months and then decide to do a search for their replacement which is a major mistake.
Here is what you need to be doing:
- Plan 12+ months in advance
- Complete a SWOT analysis on the retiree
- Interview their entire team
- Decide if it will take 1 or 2 people to replace them
- Call Life Science Search Partners to help with the process and search
Not planning for an eventual succession is incredibly costly and we are here to help you avoid those mistakes by walking you through the process of developing a succession plan and a local or national search for the candidates. Don’t leave the future of your organization to chance.