Unless you have a crystal ball, it can be hard to predict the future of your business, but succession planning can help alleviate some of the fear of the unknown! Is your business organized when it comes to succession planning or is it something you’re eventually going to get around to?
Succession planning gives you an overall picture of your business, how you see staff developing and growing within your company and what you can do to help them. Succession planning should be used for all employees not just the senior management roles.
Recruiting a new member of staff can eventually cost you in the region of £30,000, more if it’s a senior position that you’re looking to fill. We’re all aware of the costs that we can’t escape, the cost of placing an advert, paying recruiter costs, but then there’s the hidden costs, the ones that drain your business resources without you physically having to hand over any cash!
Recruiting a new member of staff, means that you’ll have to have a current team member take on extra duties whilst you find the right person, then once you do, there’s the time it takes to get that person fully up to speed and know your business. Then what if you haven’t hired the right person & you have to start the whole process all over again?
Having a succession plan in place for different roles within your company means that you minimize the time it takes to find the right person for the job as they’re already working for you! You can promote from within. If your staff know that their skills are being developed and there’s a plan in place for them, they’re more likely to stay loyal to you and your business.
In life, there’s always the unexpected events too, a staff member going off with a long-term illness or someone suddenly deciding to retire, but by having a succession plan in place, you can have some contingency plans in place.
As amazing as having a succession plan is, it can take time to out together and if you’re busy doing everything else for your business, it might be that putting one together slips down your “to do list” in favour of more pressing issues.
Wouldn’t it be nice if there were a system that could not only save you time and money when it came to recruitment, but also had a facility to build in a succession plan for your business that could work alongside your recruitment needs? Sounds good, doesn’t it?
Dalmatian PROServer does all these things and so much more and is suitable for large corporations and SME’s. If you’d like to know more about joining the Dalmatian Nation, then please contact our office (01623) 287880 or fill in the contact form.