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Summary: Every year, many owners (or partners) of advisory businesses, sometimes even founders, are asked to leave their firms for reasons ranging from underperformance to poor relationships or disastrous mistakes they have made.
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Summary: How can I pull a team together most effectively? We have spent a lot of time in the hiring process identifying great people and each one – on their own – is very good. But when they come together they all jockey for the top-dog position.
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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.
