Succession plans mean bosses should relax on holiday, says surveyAug 31, 2013
In a survey conducted by Investors in People South, 31 per cent of respondents said they worry about going back to work after a holiday in case problems have occurred while they were away.
Despite this, 90% said they felt confident that the business would run smoothly while they were away, possibly because more than half contact their employees while on leave.
John Telfer pictured, managing director of Investors in People South, which manages the Investors in People Standard in Buckinghamshire, said: “It can be difficult to relax on holiday, especially as technology now means it is easier than ever to contact the office and check your emails while away.
"However, it means that bosses never really relax and it is not a long-term solution for the future of the business – there has to be someone who could fulfil your duties in your absence.
“Organisations need to have a succession plan in place, whether it is to cover a fortnight’s holiday or a key member of staff leaving, becoming sick or retiring. Employers must ask themselves how the business would cope if certain employees were no longer working for the company.”
A total 60% of respondents confirmed that they have a succession plan in place covering key roles in the organisation.
“It’s great news that the majority of companies are planning for the future,” said Mr Telfer. “However, there is obviously a considerable number that need to review their business plan, identify key skills needed within the organisation and nurture the talent of employees rising through the ranks.
"Having an engaged and flexible workforce, ready to step up when required, is key to long-term success.”
Awarded to well-run organisations which demonstrate good management practice with a high emphasis on best practice people management and development, the Investors in People Standard encourages growth, profitability and efficiency.
Research shows that organisations of any type and size that adopt a comprehensive approach to people development perform better than those without, indicated by higher gross profits per employee, higher profit margins and higher productivity.
Companies that have achieved the Investors in People Standard also have higher levels of trust, co-operation and commitment than their competitors.