16 Nov

Why Your Company Needs Succession Planning

A Right Management Study from May 2013 determined that only 4% of businesses in this country believe they have an adequate talent pipeline to meet their future needs. In that same study fully 85% of US Executives said they “…expect to rely on a combination of internal talent development and outside recruitment. In addition, 11% U.S. organizations routinely look externally before filling critical roles.”

If I were a CEO I would be very concerned upon hearing that information. I would want to know why my company does not have a working viable succession plan.

Succession Planning is as simple as it is complex. It takes a great deal of know-how and effort. It is entirely possible that many companies, potentially as many as 96% if only 4% of businesses have an adequate talent pipeline, do not have anyone on their staff who knows how to develop a working and effective talent pipeline. This isn’t as simple as buying a technology product, plugging in some data and proclaiming “Voila, we have a succession plan.” It takes doing specific things effectively and efficiently.

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09 Nov



What is Small Business in America?  By some definition it is companies of less than 100 employees.  By others it is less than 500 employees.  Some include home based businesses, some do not.  For simplicity we will focus on companies of less than 100 employees and exclude home based business. 

There are 8.1 Million Small Businesses in America today.  They employ over half of all private sector workers and almost 40% of those in High Tech jobs (approximately 130 million workers).  They provide between 60% and 80% of all net new jobs annually.  They produce more than half of all nonfarm private gross domestic profit in the US (roughly $6 Trillion).   Small Business is important. 

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