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Goal setting integral to your dealership’s succession plan

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  4.  » Goal setting integral to your dealership’s succession plan

Succession planning can help you envision the future of your dealership in Florida. A carefully developed plan will embody your company’s values and provide vital strategic information. 

When you identify key characteristics that contribute to your dealership’s success, you can hire, retain and motivate long-term leaders. 

The purpose of goal setting

All things considered; a succession plan is a large goal composed of many smaller goals. According to Deloitte Insights, your priority should center on identifying short-term goals that can streamline your long-term vision. When implemented consistently, goals that address the future of your dealership can simultaneously benefit your company and provide an incentive to your workers. 

One way that experts suggest doing this is to make succession planning a valued component of everyone’s job. Because your employees focus so pointedly on the day-to-day tasks and numbers, the idea of succession planning may seem far-fetched and unnecessary. However, through careful coordination, you can separate aspects of succession planning into more manageable pieces and incentivize your employees to participate in setting goals for the future. 

The value of loyalty

When developing the next set of leaders for your dealership, you would probably prefer individuals who understand the industry and have shown loyalty. Encouraging commitment and loyalty from your employees is largely influenced by the way you treat them. 

From the start of employment, help your employees identify their career objectives and then establish incentives to help them achieve those aspirations. Create a consistent and informational career development plan within your dealership to help you retain top talent. This can also provide you with a way to measure employee success to identify workers that show the most potential to lead your company into the future.