Houghton Mifflin is a $700 million book publishing organisation. The organisation's succession planning process was more formal than most. Annually, the human-resources department worked with the CEO to survey the future staff for all the senior positions. The CFO had informal activities for grooming a successor that took place during day to day activities and estimated that the process took about 40% of her time. The CFO stated that she received satisfaction from the process and the techniques ...

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9.3.2 Develop succession & career plans

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