CLIENT-CENTERED MULTI-GENERATIONAL SUCCESSION PLANNING

Survey fact: Many surveys of HR professionals have found that respondents recognize succession planning as a high priority concern.

Survey fact: Those same HR professionals admit that very little is being done to address it.

In a survey of companies in the northeast U.S. by Right Management and Practice Development Counsel (summer 2008), only approximately 9% of respondents said that a knowledge transfer process is in place. How will they survive if the creative class of Baby Boomers walks out, voluntarily or involuntarily, with their knowledge cache of skills, expertise, judgment and relationships?

What are the threats to a firm's client-centered, multi-generational succession planning?

Phyllis Weiss Haserot     www.pdcounsel.com