With the early waves of  Baby Boomer small business owners retiring or getting ready to hand over the keys to the company, constant communication with high-potential staff about growth opportunities, coupled with making companies appealing to younger professionals via investing in cutting-edge technologies, will serve to ease transition issues with regard to leadership succession. The person who buys your business when the time comes, may already work for you.

If you want to be the employer of choice, you have to be an attractive company. Dynamic young talent will not go to a stagnant company. And you must communicate with them. Companies have  lost really good staff over the years and found out that they received no feedback or communication on how good they were. So make it a point to meet with the high performers.

When prepping future leaders one of the most important things is to let people know what you expect,  said Gustavo A Viera a Miami CPA . They can’t deliver if you don’t tell them what’s expected of them. Some companies hate to give their people annual reviews, but it’s imperative. In a small company, one of the challenges is to empower the people who are there and delegate. But there are only so many people you can delegate to. You can’t be everywhere.

Gustavo A Viera CPA

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