It seems like yesterday we welcomed in the New Year of 2016 and now we are already moving at lightning speed kicking off 2017. As time moves on it’s easy for us to put off important matters and, as we all know, unexpected changes can occur quickly within an organization. Nobody wants to find their business unprepared for a sudden, unexpected change in leadership which could affect the stability of their company.
According to a Forbes survey, about 8% of companies have a development plan integrated with strategic business objectives. Also, according to the Harvard Business Review, almost two-thirds of large U.S. companies do not have a formalized succession plan in place.
For leaders entrusted with an organization’s future, it is sometimes challenging to focus on the now. At CBE, we spend a great deal of time envisioning the company next week, next year or five years down the road. By implementing a well-developed succession plan, we can ensure a smooth transition of qualified people to keep our company moving forward.