{"id":2908,"date":"2023-06-30T07:07:58","date_gmt":"2023-06-30T07:07:58","guid":{"rendered":"https:\/\/btla.eu\/succession-plan-for-the-company\/"},"modified":"2023-08-22T13:25:01","modified_gmt":"2023-08-22T13:25:01","slug":"succession-plan-for-the-company","status":"publish","type":"page","link":"https:\/\/btla.eu\/en\/law\/business-law-firm\/succession-in-the-company\/succession-plan-for-the-company\/","title":{"rendered":"Succession plan for the company"},"content":{"rendered":"
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Succession plan for the company<\/h1>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n
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Succession in the company – prevention<\/h2>\n<\/div>\n
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Employee turnover when running a company for many years is a natural phenomenon. Some employees are promoted to higher positions, while some are unable to continue working for personal or professional reasons. However, any loss of a specialized employee by a company, without a properly drawn up succession plan, will have negative consequences for the company. <\/span>An entrepreneur who is aware of the potential risks caused by the loss of good employees should analyze the business needs of his company and identify positions that are key to the growth and continuity of the company. Determining the company’s needs will be the basis for planning the company’s long-term operation and succession plan. <\/p>\n

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Succession in the company – a plan of action<\/h2>\n<\/div>\n
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When creating a succession plan, it is necessary to take into account the organizational dimension of the company, the legal and administrative dimension, as well as the image dimension. Creating a path to promotion for long-time employees will undoubtedly have a positive effect on their motivation for their work, and the entrepreneur will gain confidence that a key position for the development of the company will be occupied by an employee with relevant industry experience. Therefore, succession planning should be closely linked to the company’s strategy. <\/p>\n

A well-drawn succession plan should identify key positions for which future successors should be prepared from among employees with the greatest potential to perform specific tasks. As a result of cooperation between the entrepreneur and the management and HR departments, the employees who will be able to occupy key positions in the company in the future should be identified and the succession process should be implemented for them. <\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Succession should provide for a range of activities such as mentoring, delegation, training and support in the professional development of employees. Soft skills training – in areas such as communication, negotiating, presenting and time management – should be included for career advancement. <\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Carry out succession in the company<\/h2>\n<\/div>\n
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The planned succession in the enterprise is a complex process, based at the same time on interpersonal relations, skills and experience necessary to perform the duties resulting from the specificity of a specific job position, taking into account the organizational aspect of the company. Succession should be treated as a long-term activity, under which the company’s management staff should constantly identify staffing needs, develop the skills of employees and remain open to new talents from the external market, employed in the form of apprenticeships and internships. <\/p>\n<\/div>\n<\/div>\n

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Succession plan for the company Succession in the company – prevention Employee turnover when running a company for many years is a natural phenomenon. Some employees are promoted to higher positions, while some are unable to continue working for personal or professional reasons. 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