Succession planning is normally associated with mature organisations, however it can be a function of growth and perpetuation – a sign of success. For example, ongoing opportunities for growth through succession include franchising, mergers and acquisitions and MBOs in subsidiaries. These need to be considered and built into the overall strategy from as early as possible.
Only a small minority of businesses have thoroughly considered succession and acted by putting a proper plan into place.
We often look at dispersal planning as early as the inception of your business. It is an important aspect of the very structure and fabric of your organisation.
A clear and well communicated succession strategy is a highly motivating factor for you and your employees – it sows the seeds for future development and reward.
We also consider the traditional notion of succession planning, for example your retirement is potentially a one-off opportunity to realise the value of all your hard work. It is therefore vital to maximise this through a well-considered dispersal plan.
Succession is set to become an increasingly difficult problem because the world’s top management talent is aging, leaving a void in the quantity of talented future leaders. Through succession planning we can help increase the availability and choice of experienced and capable employees who are prepared to take over your key roles.
By helping you with a proactive exit, whether done over months or years, will lead to much higher rewards compared to a reactive sale. A lack of succession counts for 30% of business closures, so it is essential that you consider all your options.