how to create a succession plan

How To Create A Succession Plan

Updated March 2020
4 Minute Read
We have a critical question for you: Do you have someone to replace key employees if they suddenly left? Many companies have good intentions of developing people for key roles, but aren’t ready if a key employee left tomorrow. That creates a big problem. When we have discussions with our partners, we’re often asked that magical question: How do we create a succession plan? And how do we do it effectively?
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A Plan for Succession

3 Minute Read

WE’VE ALL BEEN THERE. We’ve all felt the uncertainty at some point in our careers. What’s next for me? What happens if the company were to close? Who is taking over after our owner retires? There seems to be so much ambiguity and maybe even some assumptions. But it’s all speculation. Because no one is actually talking about it. It’s unclear and it’s frustrating. But you’re not alone. Companies every day struggle to put together a future picture. A plan for succession.

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Family Business Succession Planning

3 Minute Read

Succession planning is a process that every organization needs to be thinking about and working on throughout the lifecycle of the business. However, succession planning in a family-owned business has some unique challenges and considerations. More often than not, more than one family member is working in, invested in, or associated with the business. When your business associates are the same people you celebrate special occasions and holidays with, you need to be even more intentional about not damaging relationships in the process.

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Succession Connection

2 Minute Read

The moment we hear that business leaders and executives are working on (not just talking about) succession planning and building talent depth charts, we are ecstatic! Because the truth is, many talk about it, but don’t put any action behind the words. Sometime in the future, we’ll hear, “Yeah, we were talking about creating a succession plan for that role. We just never got around to it.”

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