Boost Your Competative Advantage with Succession Planning
Succession planning provides for the leadership and business continuity of any organization. Depending on the organizations needs, it can focus on replacement of the CEO, the executive team, or a broader scope of leaders and key employees. After the scope of succession is defined, organizations will identify key criteria for selecting successors, identify the pool of talent available, leverage development initiatives, and potentially work to reward and promote those who are ready to assume more significant roles and responsibilities.
Succession planning is not only for the Fortune 100.
Even within entrepreneurial and middle market companies, not nearly enough planning is done to identify and develop successors. In a recent national consulting firm survey, over 80% of closely-held companies indicated they had not identified the successor to the business owner.
What if the unimaginable were to happen?
Surround yourself with talented people who lead others, work on behalf of your customers, and focus their efforts on your strategic agenda and you create competitive advantage that’s hard to beat.
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