Succession planning has become a hot trend in the last 5 years. The boomers held a tremendous amount of knowledge in the manufacturing, industrial, and supply chain markets and now we are witnessing a vacuum in the talent markets as they retire.

The succession planning process doesn’t vary much, but the key ingredient is time. Most companies wait until someone is leaving in 2-3 months and then decide to do a search for their replacement.

Here is what you should be doing:

• Plan 12+ months in advance
• Complete a SWOT analysis on the retiree
• Interview their team
• Decide if it will take 1 or 2 people to replace them
• Call TMG Talent to help with the process and search

The war on talent used to be a great buzz phrase for the news and media but now it’s really happening. It’s driving unnatural wage growth as you end up overpaying because of lack of planning or you give in to a candidate’s counter offer because you need them.

Not planning is costly and we are here to help you avoid those mistakes by walking you through the process of developing a succession plan and a local or national search for candidates.