Succession Planning
One CEO stated it simply when he said, “the thing that wakes me up in the middle of the night is not what may happen to the economy or what our competitors may do next. What wakes me up is worrying about whether we have the leadership capacity and talent.”
This business dilemma is a topic of great concern to many business leaders. A company’s leadership capacity and talent can be seriously impacted by the unexpected departure of a top performer or an unplanned retirement. To remain competitive companies must develop talent to offset the Brain Drain left by any departing leaders and employees. Forward thinking companies recognize it as a strategic priority to assess the potential impact of the Brain Drain within their companies and determine effective strategies and solutions to offset it. While there isn’t a one-size-fits all solution, strategies that include a simple, straight forward approach focus on growing talent from within.
We use a proven, 5-step approach to succession planning.
- Conduct a “Brain Drain” risk assessment
- Conduct a job analysis for targeted positions
- Develop potential learning activities to develop talent
- Match individual strengths to the job’s behavioral requirements
- Engage employees in career development
Want to improve employee retention and strengthen your succession plans? Download “The Brain Drain Survival Guide: Five Practical Tips to Talent Management” on our White Papers resource page here. Or contact us today for a free, no-risk consultation about your succession planning needs.
