Is your business prepared to deal with the unexpected?
With the uncertainty and instability from the global pandemic, it’s important for businesses now more than ever to be ready for the unexpected. If an executive or key player in your company needed to step back, would you be ready to fill the gap that person left behind? It’s critical to keep businesses running smoothly, especially in times of crisis. Mercer is here to help you assess your company’s capability to handle unforeseen replacement needs and can assist with identifying where you can improve your succession plan. The questions below are a great place to start.
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Ask these key questions to assess your business continuity readiness:
To what extent…
- Are succession plans in place that identify both ready now successors and talent in the pipeline who may step into a key role on an interim basis?
- Are leaders aware, equipped, and held accountable for building a robust talent pipeline in their organizations?
- Are leadership teams cohesive, aligned, agile, and working effectively together (have each other’s backs)?
- Have you identified (based on objective data) the people you must retain and who are a potential flight-risk?
- Are knowledge transfer processes in place and fully operational?
- Are short-term rewards and recognition available to assist in retaining essential talent?
- Are boards reviewing succession and business continuity plans and holding the C-Suite accountable for creating and sustaining up-to-date back-up plans?
- Have company structures been designed in a way to prevent too many key decisions from flowing exclusively through the CEO?
- Are critical business and communication processes carefully documented and explained so key players know what’s happening?
- Are HR functions equipped and ready to facilitate contingency planning in uncertain — sometimes crisis — situations?
For more information…
For more information on and to inquire about a Business Continuity Succession planning Readiness Audit, contact gerry.gibson@mercer.com.
About the Author
Gerry Gibson has over 25 years of global experience leading Talent Management, HR Strategy, Cultural and Business Transformation, and organizational development projects for a variety of industries. He specializes in the design, development, and implementation of programs and processes that build organizational capability, inspire cultures and teamwork, and maximize employee engagement.