Succession Planning: Building a Future-Proof Workforce with a Skills Matrix and LMS
In any business, particularly in the trades industry, having a solid succession plan is critical. You never know when a key employee might leave, retire, or move into a new role, and being unprepared can leave your company scrambling. A skills matrix combined with an LMS allows you to clearly see which employees have the potential to step into leadership roles or more advanced technical positions.
Succession planning becomes seamless with a clear map of your workforce’s skills, progress, and training. You can identify who’s ready for the next step, and what skills they need to develop further and ensure that your business is prepared for future growth.
Why Succession Planning is Crucial:
- Reduce Turnover Impact: Be prepared for employee turnover by grooming internal candidates to step into key roles.
- Promote from Within: Filling leadership roles internally is not only cost-effective but also boosts morale, as employees see a clear path to career advancement.
- Develop Talent Pipelines: Keep your business future-proof by ensuring that your team has the skills needed for new roles as your company grows.
Effective succession planning leads to 20% better performance outcomes for companies, as they are able to transition leadership roles and retain critical talent seamlessly.
BOOK A CALL HERE