Think of Succession Planning as Life Insurance for a Company’s Productivity

Succession Planning was in the past focused on planning appropriate action in the event that a key person within an organization is no longer available to the organization.   Today it has taken on a whole new perspective.    Boomers are leaving the workplace in droves, talent pools being emptied faster, time in filling a vacant position is getting longer and the cost of re-training is escalating.    To avoid risks associated with future job vacancies, wise companies are building succession plans not only for executives but for every potential future position that could be vacated.

40%-50% of BC’s boomers will vacate their positions with the next 5 years creating a gap of expertise that took decades to develop.

Succession Planning is not a dark art.   It involves some basic principals and best practices.  The core principal is to consistently identify high performing employees and groom them to take on a different level of responsibility in the future.    This could be accomplished through training, mentoring or job rotation and should be aligned with all levels including staff, management, technical and executive level.

Succession planning for senior executives involves periodically reviews of executive positions that could be suddenly vacated.   Individuals in the next-lower level should be identified to ensure several backups for each senior position. This is important because it often takes years of grooming to develop effective senior managers.

We guide you through a succession plan process, tracking critical positions that could be vacated, identifying future replacements and developing hiring, training and mentoring programs.  

We help your organization look into the future and ensure you have the skills and people to get you there.