Latest Posts in Succession Planning and Knowledge Management
Nearly one-third of companies with more than 1,000 employees said they don't currently have a succession planning program at their organization. The numbers for smaller organizations are even more dismal. For organizations who urgently need expert guidance and advice and are looking for a more economic cost than traditional methods, a remote succession planning consultant might be a good fit.
In this article, you’ll read about some common crisis scenarios, but more importantly you’ll have the opportunity to take our succession planning self-assessment and ultimately learn how to ensure your company’s future viability through the creation of a leadership development succession program.
If you’re interested in learning more about knowledge management, or if you need more insight on why it’s important to your company, you’ve come to the right place. In this brief article, you will learn the basic definition of knowledge management, the two main types of knowledge and how your company stands to benefit from a knowledge management plan.
If there’s one thing that remains true in business (and life in general) it’s this: a crisis can strike any company … anytime, anywhere. Imagine you just found out a valuable, tenured employee is leaving and taking all his or her critical knowledge and experience with him to a competing organization. Your only hope to avert this crisis? Advanced planning!
As more and more baby boomers retire or consider retirement, ‘succession’ continues to be a common buzzword. Every year about 10% to 15% of corporations must appoint a new CEO due to retirement, resignation, dismissal, or a health crisis. As a business leader, succession planning (SP) has no doubt crossed your mind … maybe you’ve even started working on a leadership succession plan, but you’ve hit a roadblock. What should you do next?
EDSI Senior Consultant, Jennifer Giannosa, lays out a succession planning process to identify and develop professionals entering a leadership position.
Although Job Task Analysis (JTA) was created to help management make hiring, promotion, wage, and salary decisions, it serves a much bigger purpose. JTA is a data-driven approach that is designed to identify the work requirements of specific jobs by providing a detailed overview of the knowledge, tasks and responsibilities that must be performed by workers in a given occupational area to successfully perform the job. Before going any further, an important point to remember when conducting a JTA is that it’s an evaluation of the job, not the person doing the job.
Succession planning means different things to different people, but the most common theme among all the definitions that exist is that it involves making sure your business is prepared for the future. There are different types of succession planning, each of which depend on your type of business and your businesses’ specific situation.
You may be wondering, when is the best time to begin thinking about a Succession Plan? As the tried-and-true saying goes, “Don’t put off tomorrow what you can do today.” An astounding 58% of small business owners have no succession plan, according to a 2017 study of 200 privately held businesses, conducted by Wilmington Trust. The last thing any business owner wants is for an unexpected tragedy or unplanned scenario to happen which then forces someone who is not prepared to take over. With no structure or plan in place, the new leader is destined to struggle and likely fail.