Why Employer Branding is Critical for Attracting and Retaining Talent
Succession Planning 101: When to Start?
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When it comes to succession planning, thoughtful consideration is imperative in helping businesses remain viable. Review these common mistakes and the suggested success strategies to save yourself and your company from lost profits and leadership woes, and watch the video included!
Did you know 60% of 2nd generation family business owners fail? For 3rd generation owners, it goes up to an astonishing 90%! It goes without saying that deciding whether or not to pass the baton to the next generation requires thoughtful consideration. If you’re wondering how to determine if a family member is the right person for the role you need them to take over, read these success strategies for more insight, and watch the attached video!
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The best thing you can do to keep your top talent happy is to engage in a bit of reverse psychology. The topic of talent retention is mired in language about having, keeping, holding, and preserving. To retain something means to hold onto it. But after you’ve “captured” a person, so to speak, the goal is to set people free to do what they do best and watch your business thrive.
This past summer, my wife and I went white water rafting on the Nantahala River in Bryson City, North Carolina (which I would strongly recommend, by the way). As the guide explained the safety instructions, the group was told that if you have an “out-of-raft-experience,” it is important to “Be an Active Participant in Your Own Rescue.” In other words, if you fall out of the raft, don’t just give up and hope for the best. The guide then proceeded to walk us through step-by-step directions about what we could do to “Be an Active Participant in Our Own Rescue.”
Did you know that WIOA requires states and Local Workforce Development Boards (LWDB) to develop and deliver Career Services through the American Job Centers? Basic Career Services must be made available to all customers interested in seeking assistance from American Job Centers.
When it comes to knowledge management (KM), not everyone agrees on its definition or value. Some people believe that KM is a stand-alone program or project, but that is incorrect. Knowledge management refers to the explicit and tacit information life-cycle that runs throughout the entire organization continually.
Many business owners dream that their sons or daughters will take over the family business, but struggle with feeling confident it’s what’s best for the company. In a report from the Family Business Institute, 88% of family business owners said they believed their family would control their business in five years. Yet, according to the report, only about 30% of family-owned businesses survive into the second generation.