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Thursday, January 15, 2009

Steve Jobs Leaves Apple

Steve Jobs is leaving Apple, eventually. Whether because of health, age, or any other reason, key employees leave companies. It happens everyday. What distinguishes a great company from a just a good company is how they plan for this eventuality.

Succession planning is the process by which companies figure out who will run the company in the future. Succession planning isn't just about the morbid possibility of losing key talent to death or illness, but more about recognizing up and comers. Succession planning is also about creating a deep bench of talent that can be used when new opportunities arise or business conditions change. Compare Annuity Investment Plans!

While nobody likes to think that they are replaceable or even expendable, most people are. Steve Jobs leaving Apple would definitely affect a lot of people, but the company won't close up shop or quit making iPods overnight. Rather, Jobs has identified his top talent who will be able to run the company when he is long gone, or at least he should.

Take a look at GE. When legendary CEO Jack Welch left, the company didn't fall apart, instead Jeff Immelt took his place and dividends are still being paid. When the Denver Broncos fired Mike Shanahan, the team didn't fold, but it may actually do better than 8-8 this year. This is what succession planning is all about, recognizing that the organization is bigger than any one person. A Better Way To Search for $100,000+ Jobs. Join!

Consider succession planning in your own business. You never know when that top developer, sales person, or executive may just up and leave. However, you will know who is capable of filling the big shoes left behind.

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