The challenges of baby boomer business succession
The challenges family businesses face today include aging baby boomers, a tight economy for critical skills, and the need to build leaders who can function in the global economy. With careful planning and preparation, family firms can manage the changes that result from a generational transfer of leadership as well as the scarcity of talent. One of the latest researches shows that your ability to attract talent (the right people, not just anyone) is now one of the biggest differentiating factor in business.
Succession planning is a gradual process. We help families and family businesses create a viable succession plan through a process of assessments, successor development, and continuing successor preparation.
Read the complete note in the link below: