Prudent leaders begin the process of succession planning almost from day one, starting with an assessment of their teams. Although, succession planning is often not planned at all.
As much as we want to retain top talent, we know that change is inevitable. People move on, circumstances change and, from time to time, we need to ask people to leave. With succession planning, we can put solid plans in place to ensure our companies are not left in the lurch (and its never a good time). When done properly, passing on the baton barely causes a ripple, however we don’t see succession planning as deliberate as it should be in the construction industry.
OneStart partner with our clients and facilitate dialog within the business leadership around succession planning. Together, we then develop plans and strategies should key people in the organisation leave the business (voluntary or involuntary). Succession planning is key for construction firms who are typically working under very tight timeframes on projects and or client and market demands.
A succession plan is a wise decision from an employee engagement perspective, but a formal process can also save your business a lot of money. Promoting from within comes with a lot of benefits. Your existing employees are already familiar with your processes, values and culture. And because you have tracked their progress, skills and potential through regular coaching conversations, it’s unlikely you’ll face any unpleasant surprises. Yes, OneStart can assist with the engagement piece with your existing talent to understand any gaps and identify the ‘red flags’ and rock stars.
OneStart carry out candidate "Market Mapping" to identify the "like for like" replacement for top talent in your business. This is a good starting point if internal resources have been reviewed and exhausted, and also a great opportunity to develop relationships with key industry recognised professionals to discuss longer term opportunities with your business.