A time will come when an organization will have to deal with leadership transition and succession. These complex processes will require much preparation and moving parts to succeed. Succession is similar to two runners in a sprint relay passing the baton; it’s a key moment in the race. A dropped baton might cost the team […]
The acquisition and sale of an accountancy practice is a challenging and complex process. The steps involved in this process of handing off from one entity to another requires much planning and preparation. The approach of the “Great Retirement,” a wave of “Baby Boomers” departing the workforce with the decision to sell their practices, will […]
The best way to reduce the effect of lost talent and underdeveloped employees is to take the time to develop a leadership-based succession plan that focuses on developing and mentoring the next generation. Jim Bitterle, EDSI Managing Partner and Succession Planning Expert Do you have the next generation of employees ready to step into the […]
When most firm leaders consider succession planning, they often expect cultivating a successor who has put in years of work and is fully acquainted with the team, clients, and firm practice as a whole. However, if your company lacks a well-groomed heir or a promising candidate to carry out an internal succession plan, you’ll […]
Succession Planning according to Susan M. Heathfield is the process whereby an organization ensures that employees are recruited and developed to fill each key role within the company. In this process, you ensure that you will never have a key role open for which another employee is not prepared. It sounds like an awesome solution yet […]
Succession planning is often treated as the elephant in the room. Although a vital inclusion to the overall prolongation of a firm, it is the most likely to be disregarded or overlooked business practice. Succession planning only becomes important in the face of adversity, which, in In most cases, is a little too late […]
“If you fail to plan, you are planning to fail.” Benjamin Franklin What would happen if you were in an accident or became sick suddenly and could no longer lead your company or firm? Will there be continuity to your company or legacy? Imagine having spent the better part of your life building and […]
The workplace has transformed. From the rise of digital technology and a move toward remote and hybrid work, the way organizations operate day-to-day is vastly different from just a decade ago. The COVID-19 pandemic has ramped up both existing trends, and we know that there is no turning back. Employees have faced […]
The COVID pandemic upended people’s lives all around the world and significantly impacted the way people learn, work, communicate, and live. It resulted in one of the most drastic and rapid structural changes in our businesses and workplaces and the overall workforce of the general population. We saw in real-time the migration of […]
As a business owner, always remember that your people are your most valuable asset. You want them to be involved in the company, not simply show up every day, but to be recognized and appreciated for the work and effort they put in. However, far too many leaders do not regard their employees. […]
