Planning for the future is an effective business practice that allows companies to assign leadership responsibilities to an employee or team of workers. This helps ensure that the company continues to run smoothly and efficiently when the senior employee is retiring or leaving or moving to pursue a new career.
Planning for the future ensures that there’s always an active talent pool of employees ready to fill the vacant job in case an emergency occurs. This ensures that there aren’t any gaps in succession and that the change of responsibility doesn’t affect the business’s performance.
The first step toward an efficient succession plan is assessing the personnel requirements that could occur from time to time and establishing plans and goals that will satisfy those requirements.
continue reading: Everything you need to know about succession planning. (weebly.com)