Utilize this flowchart to discover where you are in the process of succession planning. This chart includes links to in-depth videos about succession planning. For more information about leadership succession, contact ATA Employment Solutions.
When looking at the individuals in your company, their roles will fall into one of four categories: critical, core, supporting or misaligned. Let’s look at each of these in detail to assist you in mapping out responsibilities.
Although more than 30% of family-owned businesses transition successfully to the second generation, just 12% of those businesses are viable for the third generation, and a mere 3% are operating by the fourth generation, according to Family Business Review. This video series explores practical ways to think outside the box when planning the future of your business such as outsourcing employee functions and creating a strategic succession plan.