Why Smart Succession Planning Cannot Wait: The Leadership Crisis No One Is Talking About

Imagine building a successful business from the ground up—only to risk its future because no one is ready to step in when you step away.

That is the reality for a startling number of U.S. companies today.

A 2023 Gallup study found that nearly 33% of business owners have no formal succession plan, and 58% of small business owners do not even know where to start. Meanwhile, research by the National Association of Corporate Directors (NACD) reports that only 13% of companies say they are “well prepared” for CEO succession. That is not just a leadership gap—it is a looming crisis.

And it can be avoided.

Why Leaders Delay Succession Planning and Why That is a Problem

Let us be clear: most leaders are not neglectful. They are busy. They are focused on daily operations, client needs, and revenue goals. Planning for a transition that may be years away simply does not feel urgent until there is a crisis. Then that lack of planning becomes an emergency.

But there is another reason many organizations do not have a succession plan in place: they have not trained the next generation of leaders.

Succession does not fail because of a lack of options. It fails because those options were never given the tools to succeed.

Who Comes Next? Leadership Succession Planning Made Easy breaks down succession planning into an achievable process. Alongside the 2025 career development book, You Next: A Step-by-Step Guide to Taking Charge of Your Career, the two resources form a comprehensive strategy for both organizational leadership and individual readiness.

The Cost of Doing Nothing

When succession planning is ignored, businesses face:

• Disruption during leadership transitions
• Decreased employee morale.
• Uncertainty among stakeholders
• Lost institutional knowledge.
• Poor decision-making under pressure

“The best time to plan for succession is before you need it.”

Because when that moment comes—an unexpected retirement, a health issue, a resignation—your organization will be defined not by how good your last leader was, but by how prepared your next leader is.

A Framework for Strategic Succession Planning

Succession planning is not a one-and-done checklist. It is a leadership development mindset that must be embedded into the culture of your organization.

Here is how to get started:

1. Identify Future Leaders Early
Don’t wait until there is a vacancy. Begin spotting high-potential team members now. Provide mentoring, job rotations, and growth assignments to prepare them for future roles.

2. Foster a Culture of Readiness

• Succession planning should be normalized and ongoing:
• Encourage learning and leadership at all levels.
• Promote cross-training to reduce single points of failure.
• Discuss future roles openly to reduce anxiety around leadership change.

3. Build a Legacy of Strong Leadership

Effective succession ensures the mission, vision, and values of your organization are preserved and advanced. It builds a leadership bench that can carry the organization forward—confidently and competently.

What Happens When You Invest in Succession

Great succession planning leads to:

• Minimized Disruption: Teams stay focused and productive, even through transition.
• Sustained Growth: Strong leadership enables agility in navigating market shifts.
• Increased Trust: Stakeholders—employees, customers, partners—know the organization has a plan.

As advised in You Next, smart career transitions and internal promotions hinge on three leadership essentials: Prepare thoroughly, communicate openly, and remain flexible.

• Preparation minimizes risk and surprises.
• Communication builds trust, loyalty, and engagement.
• Flexibility ensures leaders—and the organization—can pivot when needed.

To implement succession planning that works, use these award-winning books:

• Who Comes Next? Leadership Succession Planning Made Easy
  Your blueprint for assessing your team, planning transitions, and creating leadership depth. www.BeyondSuccessionPlanning.com
• You Next: A Step-by-Step Guide to Taking Charge of Your Career
  A career development tool you can provide to emerging leaders—so they are ready when the time comes. www.YouNextNow.com

Succession planning is not just for the C-suite. It is for anyone who cares about the future of their business, their people, and their purpose.

It is not a matter of whether you will need it. It is only a matter of when.

So do not wait. Start planning now and lead with a legacy in mind.