(NC)—In an online poll conducted by the Canadian Professional Sales Association (CPSA), salespeople were recently asked about how confident they were, if something were to happen to them, that a successor could step into their roles. While 32 per cent of respondents expressed unshakeable confidence in their own or their company's ability to fulfill their responsibilities, the balance of survey respondents were not as assured with 30 per cent somewhat confident, 23 per cent not very confident, 15 per cent not confident at all and two per cent unsure.
Business leaders often speak of their most important assets as the ones that walk out of the door each day; however, few leaders have developed plans or implemented strategies to plan for the future. A surprising 54 per cent of Canadian private business owners do not have a plan outlining the future ownership of their business while 38 per cent have an informal, unwritten plan and only 10 per cent have a formal, written succession plan.
Even more worrisome is the fact that large number of senior leaders and SME owners are also approaching retirement age with one in six of Canada's working population aged between 55 and 64. Younger workers change jobs more frequently, taking their technological savvy and knowledge with them. With that said about 80 per cent of professional knowledge is lost when employees leave a company. Despite the high risk and cost of losing intellectual capital, a majority of companies still have no plans for managing and transferring knowledge that factors in cross-generational challenges.
The Canadian Professional Sales Association (CPSA) is a national association of nearly 30,000 sales professionals from across Canada. . More information is available online at www.cpsa.com or toll-free 1.888.267.CPSA (2772).
Source: www.newscanada.com
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