In this insightful episode, Wendy Sellers, The HR Lady, is joined by HR leader and expert Kate Grimaldi from Health Equity to delve into the vital topic of succession planning. They discuss the common pitfalls companies face when planning for leadership transitions, focusing especially on the unique challenges small family businesses encounter. Did you know nearly two-thirds of family businesses lack a documented succession plan?

Explore the real-world implications of these gaps and learn essential strategies for identifying future leaders within your organization. Wendy and Kate highlight the importance of having ongoing career conversations and balancing structured plans with the need for flexibility in an ever-changing business environment.

Learn why mentorship is a key component of effective succession planning and how company leaders can support employee growth and development. Kate shares practical advice for building a 'reactive bench' of potential successors, ensuring businesses are prepared for sudden changes in leadership.

If you're part of a family-owned business or simply interested in improving your succession planning process, this episode offers valuable perspectives and actionable insights to help secure your company's future.

Connect with Kate on LinkedIn https://www.linkedin.com/in/kate-grimaldi-52045a9/