Tag: Succession Planning

Employers need to plan ahead now or risk losing key employees in 2011, with employees embracing the “new year, new career” resolution.

Mixing family with business can be a complicated process, particularly when it comes to the transfer of business ownership to children.

The estimated cost of replacing staff is the equivalent of that person’s annual salary, so retention of the best people is going to be vital in 2011.

Recently, there have been some very public examples of succession that have reminded the business world not only of the importance of good succession planning, but also how far it can go wrong without a little thought and preparation.

Succession planning is often surrounded by a cloud of confusion. Bill Hovey, CEO of Linchpin Group Australia, tries to help SMEs in understanding succession planning. In my daily work with clients a number of issues about succession planning arise continuously. The first is confusion around what succession actually entails. Succession is best described as the […]