SUCCESSION PLANNING

We have all seen how the lack of succession planning can lead to disastrous consequences both in business and in politics yet it still remains an afterthought to many.

Because of the lack of succession planning, the ANC had to go through a difficult time as an organisation. It will go through an even more difficult time if the question is not adequately answered this time around. Similarly, businesses go under and family empires are destroyed because of the lack of succession planning. This is why I so agree with Julius Malema’s very recent statement which questions the lack of succession plans in the economic cluster.
 
It is very true that, right now, the economic cluster is in the hands of minorities and we need not be emotional about it. Trevor Manuel, Gill Marcus, Pravin Gordon, Barbara Hogany, Rob Davies and Ebrahim Patel - I mean, where are the black economists, accountants and strategists? For this reason - and whilst not questioning the current incumbents - I would argue that we need strong black candidates as Director General who will succeed these individuals. The economic cluster is the economic nerve of the country and true to economic transformation needs to have better representation. If there ever is a good time to identify successors and to be true to transformation and sustainability, it is now. It is possible to plan and implement a succession plan and I would urge the party to open discussions on that. Investors are never worried by the current appointees more than they are by future appointees. It is all about foresight and sustainability.