It is always ideal to develop a succession plan that involves developing, training and mentoring employees from within an organization. Employees who are perceived to have the skills, knowledge, good work ethic, the right experience and the motivation to complete the necessary training and development programs will be greatly prepared when the opportunity presents itself to move up to fill specific, key positions. This has a direct link to the Talent and Leadership Development and Training service that we are also able to provide.
There are many reasons why every business despite the size, needs to think about succession planning. The most important reason, of course, is that staff are constantly relied on to provide services, carry out projects, provide information, and meet the organization’s goals and objectives. It is imperative to be proactive now, and to plan for what would happen to services or the ability to complete a project if a key staff member left. The succession planning now would ensure that there would be a well trained and prepared employee that could easily take over duties and responsibilities to make seamless transition between staff members.
There is another very eminent change happening in today’s workforce that has a direct impact on the need for succession planning. Since our workforce is composed of an aging generation, the impending retirement of the baby boomers is expected to have a major impact on workforce capacity, and therefore it is important to plan to continue the success of your business.
Since many small to medium sized businesses and nonprofit organizations are facing other organizational challenges, thinking about who will be the next senior executive and what would happen if they suddenly left is not the main priority. Optimum HR Solutions will work with you to establish programs that will be a catalyst for your business’s future growth and success and have a seamless transition during the succession planning stage and implementation. This includes employee engagement and retention strategies, career and leadership development, succession planning, on-boarding, and training.
By implementing these programs and increasing employee engagement and commitment, it also helps with knowledge retention within the company. Engaged employees will be advocates of the company and its products and services, and contribute to bottom line business success. There is a significant link between employee engagement and profitability.