Jacobsen Law Firm

Contact us today: 507-252-2775

  • Home
  • Our Team
    • David W. Jacobsen
    • Michael W. Hero
  • Practice Areas
    • Estate Planning
      • Trusts
    • Business Law
    • Civil Litigation
    • Criminal Defense
      • DUI
      • School Bus Arm Violations
    • Real Estate Law
  • Success Stories
  • Resources
  • Job Openings
  • Blog
  • Contact
Jacobsen Law Firm
  • Home
  • Our Team
    • David W. Jacobsen
    • Michael W. Hero
  • Practice Areas
    • Estate Planning
      • Trusts
    • Business Law
    • Civil Litigation
    • Criminal Defense
      • DUI
      • School Bus Arm Violations
    • Real Estate Law
  • Success Stories
  • Resources
  • Job Openings
  • Blog
  • Contact
Email

CALL

Protecting Your Rights, Your Family, Your Assets And Your Legacy
Jacobsen Law Firm
  1. Home
  2.  » 
  3. Business - Employment
  4.  » 
  5. Which roles at an organization require succession planning?

Which roles at an organization require succession planning?

On Behalf of Jacobsen Law Firm, P.A. | Mar 9, 2023 | Business - Employment

An organization is only as successful as the leadership that drives it and the workers who provide daily labor. Major changes in the executive talent at an organization can have devastating consequences for the company’s stability.

Someone in a leadership role making an unexpected exit for early retirement or a new job opportunity could damage the company’s operations, and a medical emergency or death could be equally challenging. Other workers may exit because of the change in management, and hiccups during the transition could cost the organization money.

Succession planning involves – among other things – creating training suggestions, qualification criteria and a list of crucial details that only one professional at an organization can speak to with real authority. The goal is to provide guidance to quickly and effectively replace that professional when they can no longer do their job.

Proper planning minimizes the disruptions

If the executive handling all financial transactions at a company has a cardiac emergency that renders them uncommunicative, the organization could suffer massive hardship during their unscheduled leave of absence. The only way to protect against emergencies and sudden exits is through advance planning.

Succession planning can both facilitate a faster transition to new leadership when the time comes and assist those temporarily filling roles by clarifying their responsibilities and the kind of training that may help. The work involved often means that it should be a compensated project. The contracts for managers and executives can include requirements for the initial creation of a succession plan, as well as periodic updates. Ideally, organizations will have everyone in key roles create succession plans to ensure the continuity of business.

Who at a company should engage in succession planning?

Major leadership roles may require succession planning

Obviously, the top executives at a business are crucial to its continued success. Anyone whose role is important enough for their absence to affect the company and challenging enough for others to struggle to fill may require succession planning. Heads of departments and any chief executives should have succession plans in place.

Many organizations include requirements for a written succession plan in their contracts with the top executives and managers at their organizations. A review of leadership roles at a specific company will be necessary to determine exactly who should create a succession plan. By proactively addressing concerns that could affect business operations, succession planning can help an organization protect itself against anticipated losses in talent and unexpected emergencies alike.

Recent Posts

  • Can family remove you as estate executor if they’re not happy?
  • 3 crucial details to negotiate before signing a commercial lease
  • When is the right time to begin business succession planning?
  • How can businesses protect their intellectual property?
  • How estate planning can help protect a family farm

Archives

  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • March 2017
  • February 2015
  • May 2013
  • January 2013
  • November 2012
  • August 2012
  • July 2012
  • May 2012
  • October 2011
  • September 2011
  • July 2011

Categories

  • blogs
  • Business – Employment
  • criminal defense
  • Firm News
  • practice – areas
  • Real estate

RSS Feed

Subscribe To This Blog’s Feed

Jacobsen Law Firm

Northfield Address

158 Water Street N.
Suite 1
Northfield, MN 55057


Northfield Law Office

Phone

507-252-2775



Pay Invoice

  • Follow
  • Follow

Send Us An Email

Can’t call? Contact us via email to schedule a time to discuss your legal issues.

© 2025 Jacobsen Law Firm, P.A. • All Rights Reserved

Disclaimer | Site Map | Privacy Policy | Business Development Solutions by FindLaw

Resources