Chess pieces aligned in strategic business moves generated by AI

ESG & Succession Planning

 

Maintaining momentum is one of the key ingredients to a successful business. When faced with loss of talent, some businesses may crawl until they get back on their feet. A strong succession plan bridges this gap, securing continuity, continued growth and making for a smoother transition. Today’s fast-paced reality is hardly forgiving – succession planning provides the peace of mind that the organisation can continue to run without interruption while people move on to either new opportunities, retirement or pass on.

 

One of the considerations which is often missed in this systematic process is that succession planning should be gradual. Knowledge-sharing is built through time, creating a strong foundation so in the eventuality, the transition is made smoother and is almost a non-event.

 

Far from a new concept, succession planning should be included as part of an organisation’s sustainability framework as part of good governance also with ESG principles in mind.

 

The hardest part is convincing people who are set in their own ways and who have always gone about doing things in a certain manner, dedicating long hours of their day to the operations of the company they helped to build.

 

Many businesses lack the level of preparedness and understanding the importance of long-term strategic planning. Succession planning creates peace of mind to both internal and the external stakeholder, assuring investors, directors and employees alike of the organisation’s plans for continued growth.

 

Investors are increasingly looking for these trends also with the increased awareness that ESG principles are bringing about.

 

Planning for succession and implementing these plans creates a more agile business; one which is ready to face challenges and changes without the knowledge being lost.

 

So how does a company prepare for the unexpected? A gap analysis followed by an introspective / inward look within can reveal employees with greatest potential; desired qualities such as intellect, aptitude, attitude, agility and leadership skills are among the traits mostly sought after. With an effective employee development plan in place and mentoring, this increases the level of employee engagement.

 

A carefully planned succession process ensures sustainable growth and continuity while leveraging a transition into a strategic opportunity. Afterall, great leadership, success and lasting values are measured by succession.

 

We partner with businesses to enable all this and craft a smooth succession process in a well-planned journey. We do this with passion with a view to ensure long-lasting success. Talk to us today for more information on how we can assist you in this transition. 

 

This article was authored by Robert Ancilleri (Chief Executive Officer)