Succession Planning is key for your small business to provide consistently outstanding service to your customers. A great succession plan means, business disruptions and financial losses can be avoided in sudden, unforeseen events that effect your staffing because your business will continue to operate smoothly. Small businesses can see an even bigger advantage in this because a lower number of employees means a higher risk if a key employee is lost. Having an excellent succession plan will help your business:

• Mitigate risks if a key leader/employee departs for any reason.
• Show your employees that they are valuable and drive retention.
• Provide a plan for employees to follow when unforeseen circumstances arise so they can continue to meet performance expectations.
• Ensure that your business will continue to run smoothly even after key leaders, key employees or even you, retire or exit the company.

Adapt

Adapt to demographic changes and talent scarcity. Make embracing change easier.

Close Gaps

Close your knowledge gaps and retain organizational knowledge.

Future-Proof

Boost retention by investing in your team and create a future-proof resilient team.

Succession Planning Services

Succession planning services provided by Estuary Human Resources are geared toward building organizational resilience, ensuring continuity of leadership and fostering a talent pipeline that supports long-term sustainability and growth at your company.

• Succession Strategy Development
  • We will conduct a needs assessment to identify your critical roles and talent gaps. Then collaborate with you to develop a succession planning strategy aligned with your business goals, long-term objectives and workforce demographics.
• Talent Identification & Assessment
  • We can help you identify and assess high-potential employees (HiPos) who have the potential to fill key roles at your organization in the future.
• Leadership Development Program
  • We can create personalized development plans and career pathways for HiPos to prepare them for your future leadership roles.
• Succession Plan Implementation
  • We work with you to assist in implementing your succession plans, including timelines, milestones, and responsibilities.
  • We help you to establish monitoring mechanisms to track the progress of your succession plans and make adjustments as necessary.
• Continuity Planning & Risk Mitigation
  • We conduct risk assessments to identify your potential risks associated with succession gaps at your organization and help you to develop contingency plans.
  • We can help you to engage in knowledge transfer initiatives and documentation to ensure smooth transitions during leadership changes or critical role turnovers at your organization.
• Governance & Compliance
  • We will assist in developing and updating your succession planning policies, guidelines and procedures to help you stay aligned with your legal and regulatory requirements.
  • We can assist you in establishing governance frameworks for succession planning processes, including roles, responsibilities and decision-making protocols.
• Communication & Engagement
  • We will help you develop communication strategies to engage stakeholders, including senior management, HiPos and employees, in the succession planning process.

Succession Planning—is not reserved for large corporations. In fact, it has great advantages for a small business and is a key component for your business in the new economy. This sophisticated strategy and process will ensure the seamless movement of talent within your company and create a more engaged, better prepared and likely longer-term workforce. This offers your business stability, organizational knowledge and higher performance that will bring considerably better service to your customers and improve your brand. This is also key to creating an exit plan for any small business leader.