Not having a succession plan in place for your company exposes your company to unnecessary risks. Key people leave, experience a health crisis that prohibits them from working, or seek promotions to advance their careers and these events can have an adverse effect on your business if you are unprepared to fill their role. Help your company be prepared when these events happen and avoid staffing shortages in critical positions.
Succession planning isn't just about mitigating risk or replacing employees. The most valuable succession plans are focused on employee development. This approach is not only great for the company’s future, but they also let employees know the company cares about their development. Identification of high potential employees, leadership training, personal development tools and demonstrating a bona fide interest in the advancement of your employee's career are all effective employee retention strategies. Contact Capstone Certified HR Advisors to learn how we can help your business today.