Can You Afford Succession Planning?

Figuring out how much succession planning costs is relatively easy. You can put a price tag on what it costs to staff and implement your ongoing succession planning activities and your associated leadership development efforts. What's harder to figure out is how much it costs your organization not to invest in intentional succession planning and the leadership development that goes along with it. The more important questions might be:

Leadership Turnover Costs More Than You Think

Nobody likes to think about it, but the cost of turnover is a huge hidden cost in your business. Here's a good analogy. A leaky toilet. Did you know a single leaky toilet can waste as much water in one month as the average single-family home uses altogether in one month? The cost of your average leaky toilet? $840 per year. Higher than you thought? So is the cost of turnover in your business.