Succession planning initiatives are often complex and require a large investment of time over a multi-year basis to “get it right.” Leadership teams facing these challenges can benefit from a deeper understanding of the competitive landscape for talent. We spend a great deal of time with our best-managed clients in working on benchmarking the existing leadership team to best-in-class market expectations. We also counsel them to consider the wide range of tools at their disposal, including coaching/training, incentive compensation adjustments, strategy updates, acquisitions, and recruiting. By Lisa Fu

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