Succession (Part 1 of 4) - As the World Changes... How Are You and Your Organisation Prepared?

As the World Changes….. How Are You and Your Organisation Prepared?

“You can’t really know where you are going until you know where you have been.” — Maya Angelou

As the world rapidly changes, businesses and communities must adapt and adjust with an eye to the future. Large scale corporations are making large scale redundancies, small scale organisations are struggling to find staff, and we are facing the brunt of a working world in the midst of transition from global pandemics, economic downturn, rising costs, environmental upheaval, and societal need for something better.

Organisations are shying away from long-term planning, as a reaction to the break neck pace the world is changing. Yet without focusing on business continuity, an organisation can’t truly be prepared to go the long haul and be prepared for foreseen events, let alone unforeseen. And without people, the organisation can't survive.

Many individuals have been reflecting in recent years as to their career goals, their desire to make a positive impact, and the need to work for and with others that bring value as well as align with their own values.

Learning from recent years, both organisations and individuals are taking stock, considering their past experiences, and giving pause to reflect and plan for where they want to next venture and with who.

As an employee do you consider:

• Your career
• Your employer’s direction
• The organisation’s values [i.e. do they align with your own?]
• The balance of your working life with your personal life
• Your professional legacy

As an employer or business owner to you consider:

1. Who is going to continue on the organisation’s mission and business after you are gone?
2. Who has the potential to take on your role?
3. What is your long-term vision for your own profession?
4. What is your legacy?
5. What is the organisation’s legacy to be?

Business owners and leaders have a lot to contend with, as they struggle to attract and retain key personnel, and also be realistic in their strategic goals.

There is an expanding need for expertise to drive these changes, to keep and retain skillset, strategic focus, and ensure employee engagement.

Yet, through manmade and natural shifts in the world, focus is also on addressing contributions and impacts from climate change, global pandemics, and flexible structures to cope.

So, what can companies do to build their legacy and ensure business continuity?

Succession Planning to the rescue!

Succession planning is key for organisations for many reasons:

1. To ensure business continuity
2. To keep up with technological and environmental changes
3. To meet the demands of increased competition
4. To retain key personnel
5. To plan for future needs
6. To drive the organisation’s mission for the long-term
7. To develop and ensure the organisation’s legacy

How you plan, implement, and succeed, can be down to how you prepare for the 'what ifs and whens' that your organisation will face - employee turnover, financial hardships through rising costs and declining profits.

Whether you are a small family business, SME, social enterprise or charity, or a large scale multi-national employer, succession planning is a must.

Succession planning allows you to think broader and for far longer. Engaging with your organisation's key people and identifying how to fill the gaps that their career development will offer, this is a ripe time for picking the fruits of your labour, the cream of the crop, and bringing them with you on your journey to success.

This is the first in a 4 part feature on Succession Planning and Implementation.

To input to our research on this vital part of any organisation’s future, please give your insight and experience to succession planning - whether with your current or previous organisations. Reach out to book your call at https://calendly.com/livinglegacy-ie/introduction or email us at [email protected]

Follow us on Living Legacy here on LinkedIn and on social media platforms FB, Instagram, and Twitter (@livinglegacy.ie)

To learn more about our work in #successionplanning and #executivecoaching, book a free introductory call, to determine how we can help you develop your #career path and succession plan.

I look forward to helping you navigate the journey.

Jennifer McConnell
Founder
Living Legacy