67% Of organisations Worldwide DON'T Have A Succession Plan

Have you ever wondered what the impact will be to your organisation if you do not have a succession development plan in place?

If you are a family owned business that lack of strategy could mean closing your doors at some time point. What would the impact be to the community that you are currently providing services to? What if you are a small to medium sized organisation and your work force is planning on retiring in the next 5 to 10 years.

Are you comfortable in throwing the reins to just anyone to take on leadership roles or do you want to do some planning that will drive out some development plans?

With all of these questions, we should seriously think about assessing where your organisation is in regards to succession maturity. Some of you will be familiar with various models to assess the maturity of organisations. Assessment models such as, Capability Maturity Model (CMM) or the International organisation for Standardization (ISO) provide the framework to assess an organisation’s maturity on a number of elements.

Most of these models rate your organisation on a scale that typically can go from 0 to 4 or 1 to 5 depending on the model. organisations that are without a succession plan would be rated as a 0 or a 1 for maturity. organisations at the other end of the scale would be rated a 4 or 5 and would have in place a structured succession plan which is repeatable, reviewed and adjusted on an ongoing basis.

The CM Model uses the following maturity scale to rate organisations:

    1.    Initial (chaotic, ad hoc, individual heroics) – the starting point for use of a new process.

    2.    Managed – the process is managed in accordance with agreed metrics.

    3.    Defined – the process is defined/confirmed as a standard business process

    4.    Quantitatively managed

    5.    optimising – process management includes deliberate process optimization/improvement.

Today there are 67% of the organisations worldwide that do not have a succession plan in place and would be rated as a Level 1 for Maturity as it relates to Succession Planning which is part of the People Capability Maturity Model.

The question that is left to be asked is, as the President, Owner, CEO, or Senior Executive member of an organisation are you willing to accept accountability for the future of your organisation if you are rated as a Level 1 in organizational maturity for Succession Planning?

If you are not comfortable with that rating, then you need to seek assistance to start the journey to mature your organisation through the development and implementation of a repeatable succession planning process.

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