Succession Planning and Knowledge Capture/Transfer
Wednesday, January 20, 2021
1CREDITSBusiness Management and Organization
Business owners rarely conduct effective succession planning and knowledge transfer. In fact, 60% of second-generation leaders fail. 90% of third generation leaders fail. To make matters worse, the majority of retiring owners have the vast majority of their wealth tied up in their companies. If their businesses fail, owners payments often stop and the owners retirement plans are dramatically altered. This presentation focuses on ensuring the company will continue successfully.
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
- Why succession planning and knowledge capture/transfer is critical
- How to avoid critical mistakes during the succession process
- How to conduct succession planning and knowledge capture/transfer processes
- How to identify knowledge loss risks and determine priorities
- How to capture at-risk institutional knowledge and build knowledge transfer activities into individual development plans
- How to ensure that development plans for successors are in place, thus ensuring long-term organizational stability and success
- Creating complete succession plans
- Identifying the "right" successors
- Creating and implementing development plans to ensure the successors will succeed
- Capturing and transferring critical knowledge that must be transitioned to the successors