Thursday, March 19, 2015 (12 PM - 1:45 PM) // Central, Hong Kong
Succession Planning: Why Does It Matter?
12:00-1:45pm. Succession planning is every business’ critical responsibility to ensure top performance and continuity during leadership transitions. Without a solid succession plan in place, companies will find themselves losing their competitiveness to drive growth in the long run because they did not have the right talent needed to achieve their business objectives. Top-performing companies understand there is every reason to get succession planning right. A few years ago, in the span of two years, the world’s largest fast-food chain McDonald’s had appointed three CEOs from its ranks, a feat made even more noteworthy considering the tragic circumstances of how two of those CEOs died within seven months of each other. Similarly, a well-established succession plan allowed Apple to seamlessly transition through the loss of company founder Steve Jobs, who took the time to inspire leadership talent around him and handpicked CEO Tim Cook to be his successor well before his death.
Two and a half years after the hand-off, Apple under Cook grew its annual revenue by about 58% and its profits by about 40% during which rivals such as Google increased its profits by about 25% in the same period.
Succession begins with the word 'success”. It is never too late to start planning for business succession for your organization. Louisa Wong, Executive Chairman of Bó Lè Associates, Asia’s leading executive search firm, will share with you her insights on: Why is succession planning important in organizations? The role of HR, CEO, Board of Directors in succession planning How senior executives should incorporate the process in their businesses Best practices to succession planning Hire from external or promote from within? Case studies Is it too late to implement succession planning now?
First 15-20 minutes is for networking Sandwiches & beverages included
Hosted by the Human Resources Committee
The American Chamber of Commerce in HK 1904 Bank of America Tower 12 Harcourt Road Central, Hong Kong