Savvy business owners need an exit plan. A succession plan aims to ensure that ... you may have an almost mythical standing among your employees. You can not expect anyone to fill your shoes ...

Training and development programs are also a key part of a succession plan so current employees are provided with the resources and opportunities to grow into future roles. Succession planning is ...

Succession planning is ... use their payroll or enterprise resource planning (ERP) systems to quickly identify potential retirement dates based on employee demographic data and any employment ...

Over the years, Gelber has found similar diamond-in-the-rough employees, who he promoted and eventually made partners, illustrating a solid, non-family succession plan is possible and profitable.