Succession planning is one of the most important aspects of creating a sustainable business. Effective succession planning must be viewed as a critical component to smoothly transition existing business leaders, preparing the next generation of leaders, securing the company’s market position, and assuring employees, customers and vendors the business will continue to move forward.
Developing leaders at all levels of a company is an ideal way to nurture the future of a company and form a stable foundation.
At Floro Business Strategies, our succession planning process addresses the following areas:
• Identify and develop the future plans and growth of the business
• Determine the personal future plans of the exiting leader(s)
• Internal talent development of potential successors for key positions
• Identification of areas where internal talent is not an option
• Establishment of plans to address the key positions
• Development and presentation of formal succession plan to key personnel