Today, more and more companies are implementing leadership development and succession planning programs to ensure they have qualified internal candidates ready to fill high level vacancies within the company.

These programs are designed to identify fast-track employees and groom them for key leadership roles. The current skill levels and abilities of employees are assessed to determine their areas of strength and opportunities for growth and development. Employees are then invited to participate in activities and training programs to help develop the necessary skills to be a successful leader. As vacancies open, replacements can be selected from an internal candidate pool.

How you benefit
Creating and following a program that develops company leaders benefits both the employees and the company. Some of these benefits include:

• Increased employee loyalty and retention.
• Successors from within the company who are familiar with the operations and the culture of the company.
• Limited downtime during leadership transitions.
• Alignment between company systems for selection, development, retention and rewards.

Implementing a leadership development and succession planning program is a proactive measure. It can help your company stay ahead of the game by maintaining a pipeline full of potential leaders.

For more information regarding business succession planning services, please feel free to contact:

Carolyn Smith, CPA
carolyn.smith@padgett-cpa.com
Phone: (210) 828-6281
Toll Free: (800) 879-4966

Ray Berend, CPA
ray.berend@padgett-cpa.com
Phone: (210) 828-6281
Toll Free: (800) 879-4966