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  • Category: Miscellaneous

    Succession Planning: companies should learn a lot from these traders

    Those who have lived in Tamil Nadu, would have known a particular community called the Nadar Community. This is one very powerful community. They are mostly traders. An extremely small percentage of them go on to become big entrepreneurs. One such successful person is Shiv Nadar, the high profile Chairman of HCL, one of the big IT companies in India.

    We should learn succession planning from these traders. Many of them own grocery shops and they always their sons and even daughters to take over from them. They have migrated to cities such as Bangalore and Mumbai as well. But in the Corporate sector, we have selfish bosses who build empires and their own yes-men.

    There is no systematic career and succession planning at all. In several companies, we often find old guys at the age of seventy manning senior positions in production and finance. Such things should never happen. We need good HR practices in corporate organization's as well.

    Members who have good succession planning in organization's may share their knowledge and experiences.
  • #711178
    Some communities in Tamil Nadu has evolved a knack and succeeded in those business which are not related to them and yet shown their strong presence against all odds of bad times and still proving to be good. Even some of the traders who are dealing with mono block pumps and underground water pumps from Coimbatore have proven challenge to the other foreign brands. It is the fact that some communities are training their children to pursue and follow the family business legacy and thus the succession was smooth and rewarding to the young generation entrepreneur as their fore fathers have created a very good market set up and they are simply enjoying the cream of that hard work those days. One thing is sure even the gold jewellery business in Tamil Nadu has some very good brands and they penetrated across the country and doing very good business.
    K Mohan @ Moga
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #711235
    My first boss in my career used to say that if the company is running well in your absence also means you did a good job. I feel that is statement is having a lot of relation with this thread. You are managing well but tomorrow something happens to you, the company should not suffer. That way a promoter has to plan hid business.
    In my previous company, I was heading the manufacturing plant and my boss used to tell me time will come for you to shift from here to the corporate office only when you make your next man manage the show here.
    A corporate will sustain for long if you have a succession plan. Youn should think about what will happen to the organisation if you are not there and you should keep and train somebody in such a way that even something happens to you, the organisation will not suffer. But unfortunately, in many organisation in our Indian scenario is not doing this. If I feel that my subordinate is a threat to me, I can't make him ready for the next level and that shows our selfishness.

    always confident

  • #711237
    Succession planning is an important thing in any organisation and many do it in a proper manner. If they are not serious in that they might err in business judgement and the organisation might suffer. Succession planning is not abrupt but requires advanced planning so that the new incumbent gets exposure to the things before taking up the responsible position and can take the decisions in time and accurately. At the same time to induct a capable and able person in the hierarchy at some higher level is very important and it cannot be any employee. That is why some companies get people from outside also ignoring their own senior ones.
    Knowledge is power.

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