Succession Planning for Your Condo Board… Really?

Succession planning for condo boards is crucial to ensure smooth transitions and the continuity of effective governance. However, many not-for-profit organizations, including condo boards, lack a proper succession plan or process. The absence of succession planning can lead to difficulties in finding new directors to replace outgoing ones. Some reasons why succession planning is essential include the need for new ideas, perspectives, and expertise, potential director turnover, and the requirement for well-prepared replacements.

The article highlights trends in large corporations that indicate a shift towards more participatory governance structures, which could also impact condo governance. To overcome the challenge of finding new directors, the article suggests two solutions. First, establishing a nominating committee to identify potential candidates and provide them with a clear understanding of the director's role. Second, creating committees to study various aspects of community governance, such as safety and planning, to prepare potential future directors and share some of the workload.

In conclusion, condo boards should embrace change, communicate effectively with residents, and actively seek out and encourage new directors to contribute their expertise and ideas to the community.