- Project plans
- Project activities
- Legislation and standards
- Industry context
- Specialist wikis
Last edited 26 Dec 2020
Succession planning in construction
Succession planning is the process of devising a strategy to ensure an organisation and its business will transition smoothly and effectively from one leader or leadership team to another. This is an important consideration in all industries, as leadership positions will change due to retirement, resignation, dismissal, health issues, and so on. It is particularly important in construction in the UK, where more than 90% of all firms are family-owned. Construction is also facing an ageing workforce, with large numbers of ‘baby boomer’ leaders and business owners set to retire in the coming years.
Succession planning can be a complex and time-consuming issue, and one that many feel can be put off to a later date. However, failure to effectively plan can be a critical factor in the future success of a business, particularly where there are no clear candidates currently within the organisation that are considered capable of taking over.
- Time schedules.
- Understanding the current state of any succession planning.
- Identifying the leader’s objectives for the plan.
- Identifying the company’s objectives for the plan.
- Identifying actions to move towards those objectives.
- Identifying and training the next generation of leaders.
- Agreeing how the any shares will be managed.
- Agreeing the level of influence and involvement the current leaders will continue to have.
- Agreeing when the plan should be reviewed and revised.
- The personal financial resources and retirement planning of the leader.
- Income tax considerations.
- Sources of funding.
 Find out more
 Related articles on Designing Buildings Wiki
Featured articles and news
BG 50 & VDI 2035 – your questions answered.
Will the way we heat homes change when winter comes ?
Can XR technology be leveraged in design & construction?
Or are you capping.
Digital gaming competition for UK students aged 16 to 18.
Heritage protection in England vs Australia.
Three-quarters of fire doors fail inspections
The role of geoparks, biospheres and world heritage sites.
Just one month to go ! Find out more here.
A new gallery for the University of Huddersfield.
What will it take to stop it ?
To celebrate world bee day 2022 !
Not forgetting part F and the new part overheating part O.
As energy prices jump up in cost.
With people in the UK from Ukraine.
Industry leader Steve Murray takes on role.
An abundant and versatile building material.
600,000 heat pump installations targeted per year by 2028.
Helping prevent those unwanted outcomes.
How has transport changed due to Covid-19 ?
Will you need it ? after June 15 and the new Part O ?