When things are going well at the office, it can be easy to put off planning for the future. Now, however, is the perfect time to begin succession planning by identifying and preparing high potential employees. Sustainability is key. Retirement can be planned and organized, but not all employee departures are that tidy. What if a key employee decides to retire without warning or experiences a sudden unpredictable change? Are you prepared for a fantastic growth opportunity? What if external factors beyond your control force a change in your structure? Who is ready to step up to the plate and lead?

Procrastination may feel like the path of least resistance, but it may not poise you to take advantage of the best opportunities, and you may lose your top talent in the process.

Here are 4 reasons why succession planning is vital to your organization and why to start today:

You Can’t Predict Obstacles and Disasters – No matter how much you and your staff excel at economic predictions, you can’t predict disasters. Having a succession plan in place can help your company stay afloat in case a natural disaster occurs, a key employee is afflicted with an unforeseen illness, or a high-level manager is forced to make an unforeseen choice.

You Experience the Benefits Immediately – Your succession plan energizes your top talent. Knowing that their employer values them and is thinking about their future improves engagement and keeps your best players on the payroll. Use it to develop strong leadership, reevaluate your company’s current goals and thrive in the talent wars that are 2016.

Take the Stress Out of Future Change – We know that change is inevitable in organizations, and succession planning is the quintessence of change. These future transformations are exciting, but they can also be a source of great stress, especially when your employees’ livelihoods are on the line. When you put your succession plan together, remember the positives that these changes will have on your business and express them to your employees. Done correctly, planning for the future can inspire your workers to stay involved, remain loyal to your company, and embrace the future together.

Succession Planning Equips You with the Knowledge You Need – Learn where your team has strengths and where there are gaps in your skillsets. Learn what knowledge, skills, and abilities you can train or mentor into the mix and what you need to look for in new talent as you build.

Not sure where to begin with your succession planning? Let Talent Assessment & Development help! Our succession planning process helps ensure that you will have strong, unified teams that can react quickly and effectively to new opportunities and challenges. Call us today at (314) 485-1390 to get started right away.