Connecting the dots with succession planning
While some say it's a long process, succession planning is critical to the continued success of a company. Mason Stevenson looks at some methods to fulfil the future needs of a company.
Succession planning is defined as the practice by which a company ensures employees are recruited and developed to fill key roles within the company. It’s a process all companies should have, but interestingly enough many still don’t have a formal strategy in place.
Put simply, the purpose of succession planning is to “fulfill the future needs of your company.” But under the type of market climate companies are dealing with today, he said it’s much more difficult to hire outside talent for key positions.
So, where to begin? Read the full article...