It sure seems like we’ve had an exceptional number of high profile people who passed away this summer.  Patrick Swayze, Ed McMahon, Senator Edward Kennedy, Farah Fawcett, Michael Jackson, Ricardo Montalban and Karl Malden are a few of the high profile celebrities that we are all familiar with.  

It doesn’t mater how important or famous you are, we all face the same consequence at some point.  Additionally, nothing is permanent and there are always going to be changes relating to people in your lives, not just by death, but other events such as relocation, divorce or marriage. Many events can cause us to experience loss of a relationship.

Businesses are subjected to people loss as well.  It may not be as emotional as a personal loss, but a key employee, leaving your company could put your business in a bind.   Small businesses are more susceptible to key losses effecting company performance.  Unfortunately most small businesses don’t prepare for this.

Doing succession planning should be part of any businesses performance management system.  Not having qualified people identified as well as skills sets needed could end up resulting in performance problems when a key executive retires or leaves.  Not doing succession planning will set up successors for failure, or simply result in weak performers as replacements, leaving your organization with management or leadership issues to deal with later on.

The Profile XT TM “Total Person” assessment is a powerful tool that will help you ensure that you have identified potential replacements that match the position.  Even in rough economic times, people leave.  Good succession planning can not only reduce risk, but help identify areas of improvement relating to your leadership development.  If you want more information on succession planning, please call or contact us.