Businesses without a succession plan can often find themselves struggling to find the right people to take on key roles that are created either by expansion or by key staff members being promoted or retiring.
A lack of proper succession planning can lead to a reduction in output and productivity, over-work of employees in roles adjacent who have to pick up the additional workload and reduced employee engagement as staff struggle to see how they will be able to grow within the organisation which in turn leads to increased staff turnover.
In the face of skills shortages, succession planning has gained popularity and is now widely carried out in both large and smaller organisations. Succession planning focuses on identifying and growing talent to fill leadership and business-critical positions in the future.
Succession planning consulting is undoubtedly the most COST-EFFECT way to ensure skill shortages do not occur, and the most PROFITABLE route to delivering your desired RESULTS.
Many businesses see the significant benefit of growing their own talent to fit the succession plan. This has a number of benefits, including:
✔ Cultural fit
✔ Improved employee engagement
✔ Improved staff retention
✔ Improved staff motivation
✔ More cost-effective than continuously hiring
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As businesses grow, they invariably face some very specific challenges. Understanding how best to address them, in what order, whilst also identifying the opportunities associated with these challenges is a critical part of unlocking your business’ true potential.
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Despite its obvious importance many organisations continue to struggle to create a succession planning strategy.
At Chalkhill Blue, we help you create not only clarity and focus, but more importantly we specialise in helping you develop and implement a winning succession plan.
Book a call to discover how you too can achieve the results you’re hoping for through our succession planning consulting.