Succession Planning for Your Business - 7 Key Benefits

As manager; leader; ‘boss’; supervisor; CEO; HR Director; you are where pressure is and you need all help you can get, with pressures often coming at you from above and below. Succession Planning is here to help you.

A core activity in many successful businesses, Succession Planning is simple and quick to implement - here are seven reasons why you will find it of great value in your business or organisation. But, you need to lead - it works only as well as support it gets!

• Time

  Succession Planning creates capable people. Capable of taking weight from management, to ensure they don’t have to do it all. This is hugely relieving for a manager and means that they can focus on bigger picture issues. Time is also saved from manic fire-fighting that happens when key people leave. This stops.

• Confidence

  With Succession Planning helping to create a healthy business future, managers can build a level of security into how they do their job. This means that they can try out new things to build their business. Safe in knowledge that they will have right people in place at right time, their confidence swells and they become far ‘bigger’ people in themselves.

• Reward

  Both financial and emotional. Performance usually generates improved earnings, since that is way many businesses reward their people. But there is more to it than that. It is more fulfilling to be rewarded by emotional return, gained by using Succession Planning to create a brilliant team. It is personally extremely satisfying. This has positive knock-ons into other areas of a manager’s well being too.
  
  

Plan for Business Success - 6 Reasons to Succession Plan

There are many valuable reasons to plan for future - not least because it reduces inexperience when people leave business or organisation - yet there are other reasons too.

Succession Planning provides many valuable assets to your business. Yet it is easy to do, with a game plan. Here are some reasons why business leader will find it a useful issue to put some focus on.

1. Personal Development

   A manager starts to learn new skills. Far from chaotic living from day to day, this is a new level, where challenges really are evolutionary, for their employees and themselves. A chance to take time to develop a strategic sense for business or organisation. Unheard of in past, now becomes a real possibility.

2. Plan

   One new skill is of planning ahead, further than next days headcount. It helps to set a different perspective on their skills. To move them from survival mode to developmental and evolutionary. Leadership as well as managing.

3. Relaxation

   One of truest tests of a manager, whether be they in a large, medium or small business, is how it works when ‘boss’ isn’t there. Many bosses hold so much, so close to them, that crises loom when they are away on vacation or off sick. A developed team, together with ‘bubbling-unders’, is a strong team, capable of coping on their own. So boss can take a break and be refreshed for new challenges to come.