What are the differences between succession plans that work and those that fail?
There are a lot of differences between succession plans that work and those that fail. The key to success is forming a plan that not only works well for your company but also fits the goals of each individual within your company. There are many things to consider when crafting a succession plan , including: - Where are you in your business cycle? Where do you want to be in the next five years? Do you have a long-term strategy for growth ? Is there growth potential for your company? - What roles do you want to fill in the future? What skills will be needed to fill these roles ? Are you able to develop your current staff members into the people who will take over these roles? These questions should all be answered before drafting any succession plans. - How much money and time are you willing to invest ...