The importance of succession planning
In this episode of Resilience Talk, Paul Spencer from Second Nature Solutions discusses the importance of succession planning within family businesses, particularly focusing on the demographic shift known as the 'silver wave,' where baby boomers are retiring. Paul emphasizes the challenges that family businesses face due to a lack of experience in hiring executives from outside the family circle. He advocates for proactive hiring practices and strategic future planning to ensure business continuity. Paul offers insights on building a resilient business by prioritizing non-urgent, important tasks and cultivating a robust process for executive hiring to secure the company's legacy and provide stability for employees and their families.
