Succession Planning Increases Company Profit

By: Julie Johnson, March 8, 2014

Vacant positions are a drain on a business at any level, but when you think of vacancies in high-level positions, they are disastrous. This dilemma is avoidable through careful planning.  My favorite quote about planning is straight to the point, “If you fail to plan, you plan to fail,” by Benjamin Franklin.  Careful planning will help drive your business forward and help you avoid lengthy vacancies at important leadership levels.  An improving economy is helping Human Resource Professionals focus on succession planning.  55% of organizations responding to a SHRM workplace forecast survey, released this month, will put greater emphasis on succession planning, readying their people for continued organizational success.