Succession Planning

Succession planning is the process of preparing to hand over control of the business to others in a way that is the least disruptive to the business’s operations and value. Effective, proactive succession planning leaves your organization well prepared for expansion, the loss of a key employee, filling a new, needed job, employee promotions and organizational redesign for opportunities. Successful succession planning builds bench strength.

At Haskel Thompson & Associates we keep our clients aware of employment trends in the industry and help you predict the roles you will have a difficult time filling externally. We assist in identifying and understanding the developmental needs of potential successors for key positions through a systematic evaluation process. Succession planning is one of those initiatives that many companies don't find the time to start until it's too late -- if you don't address succession planning now, your organization may end up facing the burden in the middle of a crisis. Take the following test and reflect on your final score. We're here to help - just call.

 

 
   1) Have you written a 5-Year Succession Plan that is CEO/Board initiated and adopted? Yes No
   2) Have you created a short-term emergency succession plan to handle unexpected replacement needs? Yes No
   3) Have you completed updated management job descriptions and created a managers task matrix? Yes No
   4) Have you initiated a training enhancement program that is specific to skills replacement? Yes No
   5) Have you identified critical key function management personnel nearing retirement? Yes No
   6) Have you monitored performance evaluations and conducted testing to uncover internal hidden talent? Yes No
   7) Have you started a job rotation process for younger top-teir performers? Yes No
   8) Have you begun an external hiring initiative to fill future key voids? Yes No
   9) Have you developed a mentoring program between current executives and future leaders? Yes No
   10) Have you implimented a compensation rewards policy for those assuming upgraded responsibilities? Yes No
Less than 10 out of 10? Let's talk.
 

 

For more information contact Haskel Thompson & Associates at (800) 470-4226 or info@haskelthompson.com.

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