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Tag Archives: 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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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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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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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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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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Job Redesign: A Fundamental Element of the Organizational Change

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What is the purpose of job redesign? Job redesign tailors employee positions to an organization’s current functions and needs.  During times of change, job redesign ensures that organizational needs are filled by proficient employees.  Job redesign can involve something as …

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Knowledge Transfer: Critical Strategy for Public Sector Retirements

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The term “baby boomers” refers to people who were born between the years 1947 and 1966. In Canada, this demographic group makes up an amazing two-thirds of the public sector workforce. A Canadian public sector employee can retire at 55 …

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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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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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