Top 5 Succession Planning Tips

Even if an organization cannot afford a trainer full time or afford a training consultant, the most successful companies plan for when employees get promoted or resign. Even emergencies, long term illness, maternity or paternity leaves should be considered, because in the end does your business stop when the valuable employee does? Well, it shouldn't.

Being consumed in day to day tasks, the thought of planning for the future roles can easily be neglected. Since each company has its unique needs, a one size fits all approach does not exist, but just consider these tips.

1. Determine who the key players will be in forumulating the company's succession plan. (Either volunteered or election to this team or board. Consider staff from varied positions.)

2. The team/board formulates a plan and communicates to management and staff.

3. Revises the plan based on management and staff feedback.

4. On a bi-annually basis, update the roles and responsibilities of employees and revise the plan accordingly.

5. Crosstrain valuable positions.