Will Your Business Fail If A Key Person leaves or becomes incapacitated?

How much stress is your staff under because there is no one who can fulfill their function if they were to go on holiday or to be ill? What contingency plans do you have in place for dealing with the sudden disappearance of one of your key players?

Do you actively plan to ensure that there are always people who have the expertise and training to undertake all the functions in your department or organization in the event of someone leaving for promotion or ill health?

What would be the net result of your leaving - in the short, medium and long term?

Consider

If your business success is dependent on key personnel who have very specialist skills or who are crucial because they pick up all the slack, you leave the individual involved and organization extremely vulnerable.

Take some time to look at the organizational structure and consider the impact of one or more players being taken out of the equation.

Are key functions left vulnerable?

How quickly could you train others internally to undertake the role? Would you have to look outside the organization? How long would that take? What are the likely costs not only to appoint someone new but in lost opportunities or revenue?

What happens now if someone is off sick or on holiday? Is your business left treading water? Or does someone's absence put further pressure and stress on others who are trying to do their own full time job and cover someone else?

What is the impact on your client base? Do you expect them to wait longer or to receive a reduced service?

In today's incredibly competitive market it is all too easy to lose clients who are disaffected or dissatisfied. They rarely return even when full service resumes.