Succession Planning Is Not Just for Corporates. SMEs Need It Too!

Think succession planning is only for big corporates with 10 layers of management? Think again. SMEs often face the greatest risk when key people leave, because every role matters, and the next line of leaders isn’t always ready.

Real-World Success: Take ProShop, a small business that was on the brink of being sold. Today they offer to streamline manufacturing processes by integrating ERP, MES, and QMS functionalities into a single platform. It has been instrumental in helping manufacturers improve efficiency, reduce waste, and scale operations effectively. By implementing a robust succession strategy, training internal leaders, streamlining operations, and adopting an ERP system, they not only retained control but also set the stage for sustainable growth. Their story shows that with the right planning, SMEs can thrive without losing their identity.

A Simple Approach for SMEs:

• Identify Critical Roles. Who would the business really struggle to replace?

• Spot Future Leaders Early. Look beyond titles; focus on potential and mindset.

• Develop & Mentor. Rotate responsibilities, share knowledge, and groom successors.

• Adopt an ERP Software for your business. Visual ACE is a software that is integrated, customizable and affordable, with thousands of users (www.visualace.com).

• Have a Plan, but Stay Flexible. Life happens. Your plan should adapt.

TSB Takeaway : Succession is not simply fine sounding HR talk. It is about ensuring that your SME thrives, even when the founder or key leaders step aside. Start thinking today, not when it is too late.

Your Turn

Who in your team could take your role if you were suddenly unavailable, and what would you do to prepare them?

DM Indu Singhal on ‪+97150-4567066‬ for a 30-minute free online consultation.