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Family Business Strategic Planning

Family Business Succession Planning

 

Is Your Team Prepared?

By Business Consulting, Family Businesses, Newsletters, Nonprofit, Privately Held, Strategy, Succession Planning
Planning Ahead

Is Your Team Prepared?

As you plan for next year, consider what your people need to carry those plans forward.

If your most reliable employee were out for six weeks, what would stop? The answer says a lot about how ready your team is for next year.

I once worked with a technology director who knew an organization’s systems inside and out. He was a founding employee and built many of those systems himself. Two junior employees worked alongside him, but he still held much of the knowledge.

As part of business continuity planning, the organization identified that gap. The director documented key processes, trained his colleagues, and gave them opportunities to handle situations independently. About two years later, he left to start his own business. The team was ready. Critical functions continued, and one of the remaining employees moved into a management role.

“It was a disappointment, but it wasn’t a panic.”

That preparation protected the organization. It also gave employees the experience they needed to take the next step in their careers. As you plan for 2027, how prepared is your team for what comes next?

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Leaders discussing succession planning and preparation for a leadership transition.

Six Steps For Succession Planning

By Business Consulting, Family Businesses, Newsletters, Nonprofit, Privately Held, Strategy, Succession Planning
Planning Ahead

Six Steps For Succession Planning

Succession planning and leadership changes impact all organizations, but a successful transition involves more than choosing the next leader. An owner’s exit impacts leadership, staff, customers, family, finances, and the company’s future. Neglecting these factors can lead to systemic challenges, even with a good successor. Planning should start early to allow leaders to improve the organization, prepare successors, and make informed decisions about the future.

Here are six questions worth answering well before the transition begins.
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Leader helping a team navigate uncertainty and workplace disagreement

The Challenges of Leadership in Unsettled Times

By Business Consulting, Family Businesses, Human Resources, Newsletters, Nonprofit, Privately Held, Strategy
Top of Mind

The Challenges of Leadership in Unsettled Times

These days, it feels like the world’s problems walk into work with our staff. Economic anxiety, social tension, and political polarization show up in conversations, social media posts, and in the way people interact or avoid each other.

As leaders, the task is hard: provide stability without pretending everything is fine, and create unity when people genuinely disagree. In unsettled times, the real work of leadership is to lead with clarity, empathy, care, and vision as well as to help teams find common ground even when that proves difficult.

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HR consultant discussing Virginia pay transparency law and salary range requirements for employers.

Pay Transparency Is Not Just About the Range

By Business Consulting, Family Businesses, Human Resources, Newsletters, Nonprofit, Privately Held, Strategy
New Law

Pay transparency is now in effect in Virginia.

Virginia’s new pay transparency law is about more than adding salary ranges to job postings. Employers should review their compensation strategy, internal pay equity, manager training, and hiring practices before posting a single job. Otherwise, public salary ranges can expose inconsistencies that affect recruiting, employee trust, and retention.

Under HB 636, Virginia employers must include a good-faith wage or salary range in public and internal postings for jobs, promotions, transfers, and other employment opportunities. The law also limits the use of salary history in hiring and pay decisions.

Many employers are starting with the posting. What range do we need to list? How wide should it be? Where should it go? Those questions matter, but they are not the only ones you should be asking.

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August 2018 Newsletter: Essential HR Practices for your Business

By Family Businesses, Human Resources, Privately Held

Protecting your most Important Investment: Essential HR Practices for your Business

As a small business owner, you are keenly aware that even if you worked 24/7 there still would not be enough time to get everything done. Being an effective manager requires knowing the critical elements to lead your team. We, at Warren Whitney, strive to inform you of the essentials to run your business. To help get you started with your HR program, Beth Williams, Director of Human Resources at Warren Whitney, has provided guidelines for a sensible and practical HR program. Included in these guidelines are three basic requirements:

  • Creation and maintenance of three specific employee files
  • Publication of an employee guidebook with specific policies
  • Posting of required state and federal notices

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July 2018 Newsletter

By Family Businesses, Technology and Operations

Valuable technology tips for your business

Technology can be a competitive differentiator, but the constantly evolving world of technology is challenging to navigate for businesses.   Growing businesses evaluating technological support want to ensure they get appropriate value, maintain efficiencies, and stay ahead of the curve. Finding the right software and systems to best suit these rapidly changing demands, is often the key to success.

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Leadership: Lessons Learned from the Trenches

By Family Businesses, Finance & Accounting

G Herceg cropped

Contributor: Greg Herceg

Downloadable link

Organizations can only be as good as their leaders; even with top talent and sufficient resources, a lack of proper management and guidance can mean the difference between failure and reaching your full potential. Fortunately, regardless of the size, revenue, or industry of the business, some leadership skills are always applicable. This newsletters outlines five important lessons in leadership that were learned from the trenches.

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Turn Your Technology and Operations into a Competitive Advantage

By Family Businesses, Technology and Operations

David Cropped

Contributor: David Nelms

Downloadable link

Technology can be your hidden competitive advantage. Warren Whitney’s Technology and Operations Practice Group outlines six fundamental recommendations below to ensure that your technology is appropriately aligned with your business strategy, operates as efficiently as possible, and is ready to support future growth. We offer a high-spot technology assessment to help you identify ways to ensure your technology is supporting and strengthening your operations.

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