5 Key Business Succession Planning Metrics

In order to put the proper elements in place for your succession planning, you should be in tune with critical metrics for the business. There are several different factors that you should explore with regard to your succession planning. If you’re an owner of a business, here’s the steps to take before you create and implement a succession plan. Make sure you are knowledgeable about these metrics first, as it can help determine the direction of your planning.  

1. How many positions have been filled by succession candidates already? If there are open positions, consider filling them by highest priority. A critical position can prove challenging if there’s no person tapped to fill it in the future.

2. Are there enough candidates in the hiring pipeline to fill additional positions? If not, this is a clue you need to extend your reach.