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Summary: Most companies are able to avoid the lurid headlines associated with the Redstone situation, but succession can be a “make or break” consideration for companies. A well-managed CEO succession can help a company reach new highs, while a badly managed succession can cause a company to stagnate or decline. Investors should understand some of the common themes associated with “failed” CEO succession plans.
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Summary:Because many owners don’t understand organizational strategy, they create an organizational chart with boxes and names on it. But this chart sends the wrong message to employees and creates a working atmosphere that prevents businesses from reaching full potential.
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Summary: Research from Center for American Progress, citing 11 research papers published over a 15-year period, determined that the average cost to a company of turning over a highly skilled job can be more than 200% of the annual compensation for that role once training costs, lost productivity and hiring expenses are counted.
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Summary: Full integration will overtake open architecture as the theme of the next decade. For years, financial advisors have looked for solutions that integrate, but have been provided with open architecture, which is simply the ability to connect multiple external systems to each other and transfer common information from one system to another without double entry. If we wanted to call this type of connection “integration,” we’d have to call it “loose integration,” at best.
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Summary: For our final summer tip, take of advantage of 3 great ways to get your message out.
