Have you ever thought about what you’ll do if one of your key employees is suddenly and unexpectedly no longer available to work for you? Have you ever thought about turning over the reigns of your organization to someone else? Good managers, owners, and leaders think like this all the time. They don’t just think about it though, they come up with a good strategy to handle the unexpected and they plan for the future of their organization.
With solid succession planning in place, organizations are prepared to continue on when change is necessary or even when it is unanticipated. Growth and expansion may require a shuffling of internal resources and key employees. With a plan in place you know that you are prepared, there are no gaps, no tasks undone, nothing falling through the cracks.
Add to that your own exit strategy and you’re confident that your organization will succeed and thrive after you’ve left. You will be handing over the reigns to a capable successor, one that you’ve groomed for the position and someone you trust. Eliminate the chaos and uncertainty that often accompanies major changes in an organization when the driving force has decided to move on. The right people will carry your organization forward.
SCP is a key partner in Exit Strategy Partners (ESP). ESP brings together key professionals in operations planning, financial planning and business valuation and sales services to aid business in developing a comprehensive business succession and exit strategies.
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