This Fast Company article (What's still driving the great resignation?) provides great insight into understanding how to attract, develop and keep the talent that is crucial to your ability to grow and to be sellable in the great business transition that is coming as we recover from Covid. BDC predicts that 40% of small-medium businesses will transition ownership in the next 5 years. So many boomers have been holding off selling their businesses because Covid made them focus on survival, now they are tired and ready for their exit. But if they lose key people then their exit is in jeopardy. This article outlines that if we don't accommodate the needs, values and lifestyle goals of our people, we won't keep them. So have a read, discuss it with your people, and come up with strategies. If you follow the lead of some big companies that are now forcing people back to the office full time, you'll likely lose them and that is a very costly proposition going forward.
I’d like to hear your thoughts on this, please share in the comments and pass it on.
Remember, only 1 in 10 owners exit successfully, will you? If you want to exit in the next 5 years and you aren't diligently transitioning already, you are taking a huge risk. If you want an outside opinion on your exit readiness, and the things you can do to maximize value such as incorporating ESG, we have a pro-bono exit readiness assessment you can do in 5 minutes, that will give you some great insight, at no cost, no risk and no obligation. MExit – Value Builder PREScore - https://score.valuebuildersystem.com/prescore/proactv-business-solutions-inc/robert-welke