Having a well-developed and current succession plan in place is important in avoiding vacancies in key positions, ensuring the stability of business operations, providing development opportunities and helping to develop a diverse workforce. Succession Planning is the process of identifying high-potential employees, evaluating and honing their skills and abilities, and preparing them for advancement into positions that are critical to the success of business operations and objectives. Despite the fear of the unknown, avoidance and procrastination are no longer an option when it comes to succession planning. Organizations simply cannot afford to be shortsighted about this issue if they expect to survive during and extended battle for their most important asset- their people. Given the urgency involved, we encourage leaders to take a realistic look at the need for succession in their own companies. If succession planning is not a priority for your executive team, it’s time to move it to the top of the to-do-list! Contact Mercer Group Associates today!
