To effectively do succession planning in your organization, you must identify the organizationâs long-term goals. You must hire superior staff. You need to identify and understand the developmental needs of your employees. You must ensure that all key employees understand their career paths and the roles they are being developed to fill.
HAY-HERRÃ¡N TREATY. HAY-HERRÃ¡N TREATY was signed by Secretary of State John M. Hay and Dr. TomÃ¡s HerrÃ¡n, the Colombian minister, on 22 January 1903. It allowed the French-controlled New Panama Canal Company to sell its option on a canal route through Panama to the United States.
The United States acquired the rights to build and operate the Panama Canal during the first years of the 20th century. The Hay-HerrÃ¡n Treaty, negotiated with the nation of Colombia in 1903, allowed the United States rights to the land surrounding the planned canal. The Colombian Senate refused to ratify the treaty, but Panama was in the process of seceding from Colombia.