Succession Planning A Big topic on everyone’s mind – the question is … What are you doing about it?
You could be in a position that you own a company and are thinking about retirement: Is one of your children taking over?
Do they have the skills, training…?
Do you have a senior manager in your business to run it?
What will this look like?
Will you sell the business?
Do you have a business plan, 3 years of sales projections
Do you know what your business is worth?
You could be a senior manager facing turn over: Which employees can you promote?
What skills do these employees need to learn now before promoted?
Do you have the skills to recruit?
Many managers are great leaders but have not been trained in external recruitment.
Have you built a ‘bench’?
Great sports analogy. If someone gets hurt do you pull the next player into the game?
SO many questions I know just how confusing it is! The most important thing to know if you need to make a plan and answer all the questions. Once you realize what you know how to do and what you need to outsource you can find the right people to help you move forward. Solutions: External recruitment firms Consultants that specialize (like us)
Ensure you have clear position descriptions for all of your employees
Set performance measurements for each role:
Give consistent feedback on how they are performing (not just annually)
Assess the current skills of your staff to determine needs
Set-up training plans for current employees with goals
Who is promotable now, 6-12 months etc..
What type of growth do your employees want?
Create a “broken leg” or back-up plan for all key positions
Interview people now – create a list of pre-qualified top skilled people
Taking action now to protect your company is the key to the future success. If you do not take action
you are planning to fail! Employers need to talk to the people they have and find out what they want for
a future in your company. Start planning – write down your current and future needs – set dates and
time lines. Take Action!