For a successful business transition, it is important that the organisation implement a well-defined transition plan to help their employees cope with the change.
However, this forethought is not one that many established companies have paid attention to.
According to a 2011 survey conducted on types of leadership transitions in non-profit organizations, it was found that 83 percent did not have a legitimate succession or transition management plan.
Respondents’ reasons varied according to the size of their organisation to the level of confidence the company had in their board of directors.
Yet, according to varied researches, it is found that having such a plan not only ensures long-term viability, it also ensures a successful rise in leadership turnover.
As such, it can be concluded that if a company wants a smooth transition into a next generation of leadership with minimal disruption, they must have a comprehensive succession plan to survive the change.
Defining Succession Planning
As a systematic process, a succession plan is more than just a process to develop leadership talent.
Along with finding the right management to help the company’s capacity for success, a succession plan also encompasses actions to help the organisation cope with the psychological and emotional impact of the change around them.
In conjunction with developing, supporting and identifying the new recruit’s key talent and skills, a succession plan also incorporates timely actions that help the both organisational and individual development. This strategic process helps the organisation to offer their best capacity to the new leadership during the transaction period.
But more than that, such a plan incorporates precise management of organisational change, thus turning the transformation from a business transition to a personal one for those working.
Benefits of Succession Planning and Managing Organisational Change
Such a step can provide numerous benefits for your organisation. Such benefits may include:
- Moderation of organisational risks.
- Increase in the company’s capacity to survive said risks.
- Identification of gaps in human resource coverage.
- Systematic address of human issues.
- Communication of proper message.
- Understanding of the culture and behaviour at each level in an organisation.
Hire a Professional for Your Organisational Management
The goal of an organisation should be to present their transition in a way that would allow their employees to feel secure in their position while they cope with the change.
Transition Planning UK offers comprehensive business process transition plans, helping their clientele in organisational transitions so that they can proceed with changes without adverse effects. Visit their website to learn more about these services!