Business Succession Planning...
As a general definition, succession planning is the process of preparing to hand over control. Specifically, business succession planning is the process of preparing to hand over control of the business to others in a way that is the least disruptive to the business's operations and value.
This last clause of this succession planning definition is the reason why having a formal, written succession plan is so important.
To be successful, business succession planning should be started as early as possible. Five years in advance is good, but ten years in advance is even better when it comes to preparing a smooth transition.
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Leadership Succession Client Comments...
"We started as a small family business and over th past few years have sucessfully managed to expand beyond that to employing others. We had no experience what-so-ever of sucession planning etc, we didn't need it. Fortunatly we found Copernicus Consulting who have helped us sort out the sucession and see a clear road for all our seniour staff. This has ensured we keep hold of them as they can see how their careers are going to develop"
Owner,
Haulage firm
"We always found when looking at the career development of our seniour managers that we all had our favorites and our individual baises affected our choices. When we got Copernicusl involved in our Sucession planning process, thewy brought an independent eye to things and to be honest some of the results were not as we would have expected. So far tho, i have to say they have been spot on."
Head Office HR Director,
Retail Business
"Wrights Engineering were unprepared when their chief executive left for a rival firm. They had not anticipated this move nor were they in a position to announce a successor at such short notice. Having worked with Copernicus on several other projects they were asked to help find the firms next chief executive and then design a succession plan that would prevent the company suffering from this in the future. "
Director,
Wrights Engineering
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