Blog - Succession

Succession of the founder/vendor is often considered a key part of transition to employee ownership.

Providing stability for a business that may otherwise have lacked leadership on the departure of its founder.

But succession doesn’t happen quickly, it’s built up over time as individuals get opportunities to stretch themselves, and apply their skills.

This should start the minute a new employee walks through the door. They’re already bringing skills and knowledge, no matter how far on their career journey they may be. Allowing these to expand and flourish helps develop the individual and for some, the career path may be into senior leadership. For others they may flourish through innovation, creativity, customer interaction or any of the other key roles that your organisation needs in order to thrive.

Enabling this personal growth is one element of employee participation in an EO company that can serve to deliver long-term business sustainability for current and future beneficiaries… building the skills, the capabilities and potential for all. A side benefit to this, is that this constant development can identify those within the business with the skills, aptitude and appetite for a leadership role.

Moving to EO and thinking that succession planning starts at transition is a short-term and dangerous position for any organisation to be in.