Pivotal Role of Succession Planning

EghtesadOnline: Chairman of the Tehran Young Entrepreneurs Association says management weaknesses and ignoring talented youth are two key maladies the nation is facing.

News ID: ۷۸۴۵۶۰

11 March 2019

Ali Mohammadi Tat said due to the long-neglected issue of succession planning in managerial jobs, the country is grappling with a chronic shortage of professional managers and successors, which is a serious threat to economic sectors.

Mohammadi Tat told the Financial Tribune that people who have special skills can play an influential role in managerial positions, criticizing that succession planning as one of the building blocks of human resource management that has been widely neglected.

It is a must for society to train future business leaders, identify talent, provide opportunity for the youth and prepare for undertaking responsibilities, the senior entrepreneur said.

“Despite their impressive performance, many big enterprises have indeed ignored succession planning which curtails corporate life,” he added.

“This is while all over the world, particularly in developed countries, innovation and new thoughts are welcomed and the youth are given the opportunity to express and test their ideas,” he added.

What matters most in the present conditions is that the focus of the youth should not be domestic issues. Developing ties with peers at the international level can help extend their horizons and improve their insights, he said.

In his recommendations to young entrepreneurs, he urged them to focus on shortcomings and offer solutions to the officials, stressing that the views and opinion of young people must be heard and trusted.

“We have to believe that the youth are a driving force behind prosperity and development,” he said, underscoring the fact that it is crucial to draw on the wealth of experience of previous generations.

Mohammadi Tat called for meaningful engagement of young entrepreneurs in unions and guilds, saying that their participation can and should be reflected in the economic arena.