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Category Archives: succession planning

How a Succession Planning Strategy Can Help Your Bottom Line

 by Patrick Allen, Vice President of Strategy and Development Succession planning is the process in which valuable insights, knowledge, and skills are captured from outgoing employees and shared with remaining or incoming ones. Why is this important for your business?  Often, the …

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Tags: competency mapping, competency-based learning, competency-based training, knowledge capture, performance management, succession planning

When An Employee Outgrew Her Job Description: A Case Study

Janet began at your company in an entry-level accounting position 20 years ago.  When new computer technology was adopted in her department, she took an active part of the transition, working closely with your IT staff to configure the new …

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Tags: skills development, strategic planning, succession planning Tagged , , ,

Five Succession Planning Mistakes You Might Be Making

Succession planning is an essential part of sustainable business practices, but only a minority of businesses actually have an active succession plan.  Even a business with a succession plan may not have all their ducks in a row.  So, whether …

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Tags: skills development, strategic planning, succession planning Tagged , , , ,

The Effect of Corporate Knowledge Loss

In 2004, a study of 240 organizations was conducted by TalentKeepers, who found that the greatest impact of employee turnover was lost knowledge – not profitability!  Lost knowledge had negatively affected a staggering 78% of the organizations. How does knowledge …

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Tags: knowledge capture, skilled labour shortage, skills development, strategic planning, succession planning, training Tagged , , , , , ,

The Consequences of Having No Succession Plan

More than half of companies today cannot name a successor to their CEO should the need arise.  A study conducted by the Canadian Financial Executives Research Foundation (CFERF) found that, “only 40% of Canadian private companies have a clear business …

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Tags: performance management, skilled labour shortage, strategic planning, succession planning Tagged , , , ,

How to Ensure a Great Transition for Your Successor AND Your Clients

A successful succession plan doesn’t start with an employee exit – it starts now.  As the Chinese proverb goes, “The best time to plant a tree was 20 years ago; the second best time is today.”  The more time you …

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What to Do When the Veteran Employee Retires

Let’s face it.  Leadership change is inevitable.  With the baby boom generation – a whopping 29% of the Canadian population, according to Statistics Canada – reaching retirement age, a significant portion of the workforce may be retiring in the next …

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Tags: skills development, skills gap, strategic planning, succession planning Tagged , , , , , , ,

What is Succession Planning Anyway?

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In a world of tentative financial markets, mass retirements, labour shortages, and government cuts, succession planning has quickly become a buzz word in many industries. Even if you are familiar with this term, you may still have some questions about …

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5 Human Resource Consulting Gems That Will Help You Grow Your Business

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Human resource challenges can affect productivity and profit. Such situations are often unique to your organization and employees and, therefore, require specialized solutions. Could a human resource consulting firm help you deal with these challenges? Definitely. A consulting firm with …

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Tags: skills development, skills gap, succession planning, training consultant Tagged , ,

Skills Transfer: A Sensible Solution to Labour Shortage

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The Canadian labour shortage in specialized skills has been a pressing concern for some time now. Employers are constantly on the lookout for people with the right skills to fill essential positions in major industries. On the other hand, the …

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Tags: competency mapping, knowledge capture, skilled labour shortage, skills gap, succession planning, training Tagged , , ,