Event - 14 May 2018

Succession planning for SMEs and why it is important

Jacqueline Low spoke at the HR Summit and Expo Asia 2018, sharing the importance of succession planning for small and medium enterprises (SMEs).


On 9 May 2018, Jacqueline Low, COO, Asia was invited to the HR Summit & Expo Asia 2018 as a speaker. The event was held at Suntec Singapore Convention & Exhibition Centre.

Jacqueline gave a presentation on succession planning to a room of business owners and HR professionals from SMEs.Succession planning can be a daunting task for any small business but it is crucial to the health and longevity and ultimately success of an SME. Here are some key tips Jacqueline shared:
  • It is never too early to start planning. The earlier the planning starts, the more a business can successfully sustain their image and allow for gradual transition
  • By sharing a collective vision and setting clearly defined values between owners and management the business can move forward successfully
  • The successor should share your vision and passion but more importantly must be competent and skilled to take on the successor roles and responsibilities
  • Document the succession plan, establish a clear decision making process and remember to include all contingencies
  • Communicate the succession plan to key stakeholders
  • Groom your successor in order to help equip them with the skills and experience to handle the new role

 Succession planning importance


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