Succession planning is a critical part of any business strategy but is very often left until the last minute, when it can be too late.
Failure to plan for the future management of your business can often result in the failure of the business or it having to be sold.
Do you really want to spend years building a successful business just to see it being sold off or worse?
These issues are common to every business but are particularly relevant to Family Businesses, Partnerships and the Professional Services sector.
How we can Help
We will work with you and your team to create a Succession Plan that will ensure it has a steady stream of talent moving through the ranks, some of whom will eventually be able to manage the business.
To achieve this, we will help you to put processes in place to ensure that the next generation of managers are identified, given the appropriate training and mentoring with a clear promotion plan.
Every organisation has talented individuals, some of whom will have leadership and management potential. Identifying this talent at an early stage can be very beneficial for the future of the business. This means that you can create a pipeline of talent that will allow those with the greatest potential to rise through the ranks. It will also create a strong business by having talented leaders and managers at all levels.
Creating a pipeline of people with potential is just the start of the process. In order for these people to reach their potential in the short, medium and long term they need to be given appropriate training and mentoring. There is no one-size-fits-all solution to this as each person will have different needs. We can help you to create a programme that will ensure the people in the talent pipeline realise their full potential.
The talent pipeline is like a funnel which gradually narrows as it reaches the end. In other words, while many people will enter the pipeline only a few will reach a senior management role. Ultimately it is possible that one person will have what it takes to run the business. Our succession planning process will help you to put checks and procedures in place to identify the ideal candidates for senior position in your business.