Succession Planning & Knowledge Managment: Tackle What Seems Like An Uphill Battle

Understanding the Problem:

The data is painfully clear: the industry is facing a succession planning and labor force crisis. It has already started for some organizations and is expected to reach a fevered pitch in the next 5-7 years. As many seasoned professionals begin retiring, there will be a palatable lack of the institutional knowledge that these individuals possess. Despite the importance of succession planning, there are a lack of tools and resources available to assist owners and contractors in this process. Construction Demographics – Age Distribution

• Capture the sum & substance of the predecessor
• Instill an effective mentorship period after transition to new leadership
• Effective succession requires a plan, and it will take a substantial amount of time
• Be prepared – the data show oftentimes a transition will need to take place with little notice
• Focus on leadership & organizational issues – the financial issues can be dealt with later
• Only 40% of organizations have a succession plan in place…

• FM Training and Certification Program [FMP, BIM, 100% online]
• Facility Management Industry Demographics [Simplar research study]
• Employment Barriers into US Healthcare Management Industry [Simplar research study]
• SUCCESS…ion Blog Post from Let’s Talk Business
• CII Research: Knowledge Transfer from the Near Retirement Generation to the Next Generation
• CII Research: Best Practices for Succession Planning
• Succession: Are You Ready? by Marshall Goldsmith [Amazon link]
• Effective Succession Planning by William Rothwell [Amazon link]

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