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> succession plan for a pharma company
succession plan for a pharma company
Leadership Transition Planning
Identify key leadership positions within the company
Assess the current leadership team's strengths and weaknesses
Develop a timeline for potential leadership transitions
Identify potential internal candidates for leadership positions
Develop a plan for mentoring and developing potential successors
Communicate the succession plan to key stakeholders within the company
Talent Development
Identify key talent within the organization
Develop a plan for developing and retaining key talent
Provide training and development opportunities for high-potential employees
Create a talent pipeline for future leadership positions
Conduct regular performance reviews and provide feedback to employees
Identify potential gaps in talent and develop strategies for addressing them
Risk Management
Identify potential risks to the company's succession plan
Develop contingency plans for unexpected leadership changes
Ensure that key roles have backup plans in place
Review and update the succession plan regularly to address changing circumstances
Communicate the succession plan to external stakeholders, such as investors and partners
Monitor the implementation of the succession plan and make adjustments as needed
Communication and Transparency
Communicate the succession plan to all employees within the company
Provide regular updates on the progress of the succession plan
Encourage open and honest communication about leadership transitions
Address any concerns or questions that employees may have about the succession plan
Foster a culture of transparency and trust within the organization
Seek feedback from employees on the effectiveness of the succession plan and make improvements as needed
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