Succession Planning for Your Business - 7 Key Benefits
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 the support it gets!
- Time
Succession Planning creates capable people. Capable of taking the 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 the 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 the knowledge that they will have the right people in place at the 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 the way many businesses reward their people. But there is more to it than that. It is more fulfilling to be rewarded by the 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.
- Recognition
Particularly in bigger organisations, making a difference above and beyond the call of duty gets seen to be a valuable quality. Being seen to deliver exemplary standards through their employees is notable. It's easy to feel a cheat here! Succession Planning facilitates the delivery of excellent performance ? which others notice and may even ask how. This does no harm at all.
- Prospecting
With a plan in place a manager can become more aware of possibilities. Potential candidates will appear and can be recruited to fit later gaps. New skills in existing employees will show through. The awareness of what is going to be required helps the process.
- Preparation
As the process unfolds, gaps and opportunities will appear. This is well in advance of requirement. So managers can take steps to create development. This pro-activity is of vital importance and enables much smoother transitions in the future.
- Testing
As potential key employees start to fill the spaces in the future plan, opportunities arise where individuals can be tested; tried out. This is an excellent chance for both sides to analyse how new challenges are absorbed. It provides a chance to develop on-the-job experiences, which whilst stretching, also benefit from support and coaching. This reduces the risk of overwhelm.
Worth a little time investment? And once Succession Planning is up and running, you will be amazed at the level of attraction it presents in your business.
Martin Haworth is a Business and Management Coach. He works worldwide with business owners and corporate leaders. He is the author of the Succession Planning Toolkit. Checkout the complimentary 7-day E-course! (Note to editors. Feel free to use this article, wherever you think it might be of value - it would be good if you could include a live link).
 Google News Updated : Sat, 11 Oct 2008 11:50:43 GMT Morgan Stanley, Goldman May Gain Investment From US Treasury - Bloomberg
Bloomberg - By Christine Harper Oct. 11 (Bloomberg) -- Morgan Stanley and Goldman Sachs Group Inc., the biggest independent US investment banks, may reap cash infusions as part of Treasury Secretary Henry Paulson's plan to buy stakes in financial institutions, ... As Stock Falls, Morgan Looks to Japanese Bank Morgan Stanley hangs on Mitsubishi's $9bn pledge Publ.Date : Sat, 11 Oct 2008 04:30:39 GMT McCain calms supporters, urges respect for Obama - Los Angeles Times
Los Angeles Times - 'NO MA'AM': Sen. John McCain takes a question from a supporter who called Democratic rival Barack Obama an Arab at a town hall meeting in Lakeville, Minn. McCain-Palin's hot rhetoric risks GOP backlash McCain Lauds and Attacks Obama in Same Day Publ.Date : Sat, 11 Oct 2008 09:04:20 GMT Thai protest leaders released on bail, vow new rallies - AFP
AFP - BANGKOK (AFP) - Leaders of Thai anti-government protests were granted bail Friday after surrendering to police and immediately vowed new rallies, raising fears of mounting turmoil days after deadly street clashes. Video: Raw Video: Tear Gas Fired at Thai Protestors PAD leaders surrender to Thailand police Publ.Date : Fri, 10 Oct 2008 15:31:03 GMT Paulson Indicates Need to Purchase Bank Equity `Soon as We Can' - Bloomberg
Bloomberg - By John Brinsley and Rebecca Christie Oct. 11 (Bloomberg) -- US Treasury Secretary Henry Paulson indicated that pumping government funds into banks is a priority and said financial markets will remain volatile. US to buy shares in struggling banks Obama welcomes Paulson plan to buy equity in firms Publ.Date : Sat, 11 Oct 2008 04:21:05 GMT Mugabe Hands Ministries to His Party - New York Times
New York Times - By CELIA DUGGER JOHANNESBURG - In a step likely to lead to the collapse of a painstakingly negotiated power-sharing deal, Zimbabwe's Robert Mugabe, in office for 28 years, has unilaterally declared that his party will retain the most powerful ... Mugabe 'gives Zanu-PF key posts' Zimbabwe's Mugabe hands key ministries to his party Publ.Date : Sat, 11 Oct 2008 10:57:49 GMT Palin violated ethics law, inquiry concludes - International Herald Tribune
International Herald Tribune - By Serge F. Kovaleski NEW YORK: Sarah Palin, the Republican vice-presidential candidate, abused her powers as governor of Alaska by pressuring subordinates to try to get her former brother-in-law, a state trooper, fired, according to an investigation ... Palin ethics lapse cited Alaska probe finds Palin 'abused her power' Publ.Date : Sat, 11 Oct 2008 09:58:28 GMT Stevens's Reputation 'Sterling,' Powell Says - Washington Post
Washington Post - By Del Quentin Wilber Former secretary of state Colin L. Powell told jurors in the corruption trial of Sen. Ted Stevens yesterday that the powerful Alaska Republican had a "sterling" reputation among the nation's military and political leaders. Reporter's Notebook: Powell Takes the Stand for Stevens Powell says Sen. Stevens' integrity "sterling" Publ.Date : Sat, 11 Oct 2008 03:13:53 GMT Increased Website Traffic |
PARLOT::Ebooks, Scripts,
Websites, and more... Inventory management may seem complicated to some, but if one... Read More Take some bold steps and help your employees and business... Read More As a manager our role is to:1. Establish the vision,... Read More Wouldn't it be nice for business owners and executives to... Read More Although there are real, external reasons for managerial difficulty ?... Read More Successful enterprise building requires seven elements. These are:1. People, who... Read More Judgment is the process of forming an opinion of something... Read More There is no substitute for soliciting the opinions of the... Read More Whoever said that being a meeting planner was easy, lied!... Read More On August 3rd/2005, Reuters reported that a German man had... Read More While there exist several useful definitions of motivation, for our... Read More TEAM DECISION MAKING: Managers who invite participation believe that people... Read More Merely assigning a task with detailed instructions is not effective... Read More Creativity can be defined as problem identification and idea generation... Read More The senior flight attendant on the WestJet flight was starting... Read More Q: One of my key employees is giving me trouble.... Read More You've made the plans, built the quality system and conducted... Read More In order to survive, you have to be happier than... Read More February 2nd, at approximately 7:30 a.m. local time on Gobbler's... Read More The reason jobs are often not done right and employees... Read More People in leading positions are often in a dilemma: on... Read More As a child, you probably heard, "to thine own self... Read More Becoming a manager for the first time can be an... Read More In management seminars I often compare debt to an infection.... Read More Some time ago we had the privilege of working with... Read More
Adsense
websites
Inventory Management 101
Five Steps to Increase the People Power in Your Business
Management to the Vision-Contribution and the Role of Compliance
How to Get Your Procedures Project Done
How Managers Can Turn Failures Into Successes
Miracle Max On Market Breakthroughs
Why We Judge
Creating Advisory Boards
Ten Secrets of Super Successful Meeting Planners
Phone Sex is Bad for Business
Classifying Motivational Needs
Creating a Team Working Environment
Allowing Employees Responsibility
Innovation Management ? how does the user benefit?
Pitching to Employees
The Thick Line Between Buddy and Boss
ISO 9001 Registration ? 8 Steps for Success
One Crazy Cookie
Having Your Phil
How Bad Communication Can Hold You Back and How to Break Free of It
CEOs Are Great, Top CEOs Are Greater
To Thine Own Self Be True--Its Better for Business: What Arthur Andersen Would Say to His Company
10 Steps Towards A Stress-Free Introduction Into Management
Business Relationship Germs
The Leadership Alignment Model
Affordable and Reliable Web Hosting Starting at $4.49/Month
13 Comments on Bad Meetings
Bad meetings are a cultural malady that senior executives pass... Read More
Results of Poor Cross Cultural Awareness
Results of Poor Cross Cultural Awareness. Having a poor understanding... Read More
14 Ways to De-Stress Employee Vacations
Employees truly deserve paid vacations. Theystruggle through stressful jobs most... Read More
Improved Communication to Improve Results
Facilitating good communication can make the difference between a well... Read More
Organisational Culture for Continuous Improvement
I have been working with leading Business Improvement guru, Tim... Read More
Why You Should Hold One More Meeting
If you are completely happy with where you and your... Read More
Unveiling the Value of Your Expertise
All of us have knowledge, expertise, and experience that others... Read More
The Role of the Machine Metaphor in Mixed-initiative Organizational Leadership
"Can This Marriage be Saved?" So reads the title of... Read More
Managing Performance: Don?t Let Slackers Bring Down Your ?A? Players
As a manager, it is your job to ensure that... Read More
Two Critical Success Factors in an ITIL Implementation
Any IT manager who wants to pursue the IT Service... Read More
Management Training: Are You Satisfied With The Results?
If you're not satfied with the results of your management... Read More
Group Decision Making : Are the Decisions Really Made by the Group?
GROUP DECISION-MAKING: Many managers feel they are well-versed in areas... Read More
Managing Workplace Conflicts
Kinds of Workplace ConflictsLet's start by identifying where conflicts happen.... Read More
Communicating Effectively In The Workplace: Four Vital Steps
Ineffective communication is a major, yet avoidable, obstacle to business... Read More
Change Behaviors, Change Performance
Every organization is looking for the holy grail of performance... Read More
Dont Let Your Measurements Mislead You
Don't Let Your Measurements Mislead You ... Read More
Six Sigma Training 101 ? Better Management Basics
What is Six Sigma?Six Sigma is a quality management program... Read More
What is Knowledge Management Anyway?
When you think of all the things companies have, you... Read More
Effective Meetings: Why Most Meetings are a Waste of Time
Whether your company holds one meeting a week or dozens... Read More
Management & Leadership - Doing it right in the 21st Century
The Old Way ? Command and ControlAlthough workplaces and management... Read More
2 Steps For Increasing Company Profits or Performing Business Turnarounds
1. Eliminate wasteEliminate reports, habits, products, duplicate input, and processes... Read More
Recycling, Reverse Logistics and?..Candy
The candy box is a container for all your favourite... Read More
Business is About Making Money
Ask most people why they are in business and they... Read More
Your Organization Is Only as Good as Your People
Let's begin by singing the jingle from an old US... Read More
Increasing the Return on Your Training Investment
Insightful leaders and organizations recognize that training is a valuable... Read More
Business Management |