Let us first begin with defining what succession planning is. There must be a defined strategy for passing each key leader role within a company to someone else. Succession planning essentially ensures that businesses continue to run smoothly after the business’s most important people move on to new opportunities, retire or for other reasons.
How Do We Help?
Creating a succession plan requires in-depth planning and evaluation of each leader’s skills. We can assist by providing your organisation with a comprehensive and unbiased strategy to identify the best fit candidates. Succession planning is not a one-time event; plans should be re-evaluated and potentially updated each year or as often as changes within your organisation dictate. We can also assist with the creation of emergency succession plans in the event of any key leader having a need to be replaced unexpectedly, or alternatively a long-term succession plan for anticipated changes in leadership.
With over one million UK employees over the age of 65, and a quarter of Britons now expecting to work into their 70s, how can organisations make the best use of their executive talent and ease their transition into retirement at the same time?
Ever since the government scrapped the default retirement age back in 2011, retirement has become an increasingly subjective issue, varying from person to person and organisation to organisation.
We encourage the sensible and open conversations as these are the beginning of any succession plan. Organisations will always benefit from the talents and expertise of long serving employees however this often means that organisations forget or simply overlook any plans in the event of retirement. This often results in the event causing assumptions to be made with no plan in place and then issues between both parties.
No matter the size of the business, whether you are a business owner or a HR leader, effective retirement or succession planning is vitally important for your organisation’s continuing success and just as important, everyone’s health and happiness.
We have worked with numerous businesses and organisations across the UK addressing these very issues. We make this an easy and unbiased transitional process combined with clever methods and approaches to make the whole process as easy as it can be.
The key is to start early in your planning; to be proactive rather than reactive is always encouraged. You can always be planning anything up to 10 years in advance believe it or not. In this time we can work with you to harness your executive workers’ expertise, develop your deputies and encourage everyone to work together to find an effective way for generations to learn from each other.