The importance of Succession Planning

The importance of Succession Planning

Succession planning is the process of identifying important positions in an organization and creating a talent pipeline, by preparing employees to fill vacancies in their organization as others retire or move on.

Succession planning helps ensure business continuity and performance, particularly during times of shifting leadership and change.
The best time to start planning is yesterday. You never know what the future will bring and you don’t want to risk the business you put so much effort into.
Let’s talk a bout a few of your options when it comes to creating a succession plan.

The importance of Succession Planning:
00:00 - Start
00:38 - 1. Risks of not having a succession plan
01:10 - 2. What is Succession Planning?
01:38 - 3. Option 1 - Let your book of business run off
02:16 - 4. Option 2 – Let a family member of partner take over
03:08 - 5. Option 3 – Sell your book of business
04:08 - 6. Final Thoughts

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