Why should you think about succession management for your business?
According to British Columbia’s 2024 Labour Market Outlook report, we’re expecting 935,000 job openings by 2024 with 68% of these job openings coming from replacement demand due to retirements and deaths by 2024. The fact that this is approximately 635,800 jobs to replace makes this a critical factor to consider in addition to the job growth over the next 8 years. * (For more info see this WorkBC Page)
So in an era when baby boomers are mass exiting the workforce, do you have a plan in place or are you leaving succession planning to chance?
Successio partners with you and your key leaders to:
- Set the stage and build support through Conversations
- Reduce anxieties
- Review Bench Strength
- Develop and adopt a Succession Policy
- Create Emergency Backup Plans
- Develop plans at all levels for mission critical positions
- Prepare for Executive Transition
- Make Executive Transition Win-Win
- Infuse Leadership Development into Board Staff Plans
Having a succession plan in place is only one piece of succession management. In order to ensure plans are kept current and they meet the changing needs of your business, a succession management program needs to be in place.
Successio can serve you in these areas to make succession management a success in your business.
Hiring Talent – start the conversation in the hiring process to gauge the candidate’s interest in building a career with your organization and their leadership skills. We can build interviewing tools to help you gain the insight you need.
Assessing and Planning – we can assess your human capital resource needs and build an operational plan that will align with your organization’s strategy/business model to meet the business’s goals and objectives.
- We develop/review leadership core competencies to ensure alignment with your organization’s talent management culture and mind-set.
- We build leadership development training programs with a long term perspective of building your organization’s future leaders.
- We also build succession plans that integrate into performance management to ensure talent development is measured.
Coaching/Mentoring – we can develop customized coaching and mentoring programs to facilitate the cross mentoring and transfer of knowledge and experience. This will not only result in increased professional and personal development for your team, but will also result in increased employee engagement.