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Blog By: Jeanne Hines, SPHR

If you’re doing succession planning, it could mean that you’re admitting that you won’t be in your present position forever.  For some, that’s a pretty unsettling thought.  For others, it means they’re making progress towards their next opportunity.  Regardless of how you see it, at some point you’ll leave your position to move to a different one, including transitioning into retirement.

For a business to be able to perpetuate itself, a conscientious effort needs to be made to identify and develop individuals who are capable of assuming new roles when the time is right.  My last two blogs have addressed selecting individuals for development, and creating development plans.  Once you have done both of those steps, it’s time to create a consistent and ongoing monitoring and review process.

Although we’d like to believe that this could be a natural process, putting some parameters in place will prompt participants to review and act.  Progress should be tracked and discussed on a regular basis--at least quarterly.  An annual summary and review of the development activities will ensure that timely skills are included.  Changes to the program may be necessary due to changing business needs or the needs of the person being developed.  If sufficient progress is not being made, it’s often due to either a lack of skill or a lack of desire.  When meeting to review, it’s critical to determine the cause and address it timely and appropriately. 

We’re eager to share with you more information on succession planning.  Please join our webinar on February 6th, 2013 at noon.  Registration is available here.  If you schedule doesn’t permit joining the webinar, be sure to contact the Benefits Department to learn more about ways to minimize the strategic risk of business perpetuation.
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