Succession planning is a process . . .
Although the need for a Succession Planning Process is as certain as death and
taxes, many Companies fail to initiate such a process. When a Company fails to
properly plan or execute succession planning, succession often becomes an
untimely event with significant negative impact and / or destruction of years
of hard work and effort.
Key Benefits
- Clarify and communicate Company Vision
- Assess functional requirements and current capabilities within the Company
- Map a succession matrix and develop action plan to implement
Capabilities
Succession Planning is not a small project. It requires someone that can take
a strategic view of the Company and the practical skills to interview current
personnel in a thoughtful, professional manner. Few executives or owners have
created Succession Plans that consider all of the personnel, financial and legal
issues required to create a success.
- Strategic view
- Through a structured process, key personnel are interviewed to capture
their vision of the Company five or so years in the future. This vision is
coupled with the Company's current state allowing shortfalls to be
identified.
- Self assessment
- Key personnel are provided the opportunity to examine their current
capabilities vs. the required skills and attributes of a senior position
within the Company. The process provides the basis for an appropriate
employee development plan.
- Plan coordination
- Most business owners are too busy running their business and have no
experience in the succession planning area. We are experienced and capable
of coordinating the Succession Planning effort, especially from the
"business" side of the process.
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