If you’re a business leader, it’s safe to believe that you understand the need for, and the benefits of, succession planning. So, for the purpose of this article, we won’t spend much time addressing them. What we will highlight, however, are a few ingredients that are necessary in order to develop bench strength for your key employees. In sports, the definition of bench strength is “the quality and number of players available to substitute during the game”. In business, there’s a bit more focus on the quality piece; but really, the concept is the same. The whole purpose is to have people ready to step into a different role when a leadership or key position becomes available or when a new role is needed.Read More›
Working with businesses across the country, we hear a lot of talk about preparing companies for the exit of their most senior managers…but sometimes it comes with very little action. What’s up with that?
When you ask many company owners who will take over for them, they usually answer with, “I don’t know! I don’t know of anyone who is like me.” After conversations like this, the action is thinking and talking, but usually no change.
So here’s what you do…
Start hiring the right people. Hire what you need, not replace who you have.Read More›