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Succession Planning & Assessment

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 identifying and developing successors.

We use a proven, 4-step approach to succession planning.

Step 1. Define the job’s success factors – create a common mindset by defining success factors

Step 2. Assess current job-related skills and knowledge – assess current skills and competencies

Step 3. Assess growth potential and readiness – agree on career potential and career path

Step 4. Determine the path forward – define development expectations and milestones

Want to improve employee retention and strengthen your succession plans? Contact us for a complementary consultation to discuss your succession planning needs.

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