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Overview

Small and family-owned businesses rarely employ first-rate, well-qualified talent in human resources. More typically, business owners must be jacks-of-all-trades and serve as their own accountants, lawyers, business consultants, marketing experts, and HR wizards. Unfortunately, that does not always work well when business owners embark on planning for retirement or business exits. To help business owners avert problems, this book will offer limited advice on the management, tax and financial, legal, and psychological issues that should be considered when planning retirement or other exits from the business.

This comprehensive approach is unique when compared to the books, articles, and other literature that currently exists on the market. This book takes on a bold and integrated approach. Relevant research combined with the rich experiences of the authors brings this comprehensive, evidence-based approach to action-based approaches for the reader.   

Why you should Attend

So, what is preventing you from starting this effort tomorrow? Small and family businesses are the bedrock of all businesses. More people are employed by small and family-owned businesses than by all multinational companies combined. Yet the research on small and family businesses is bleak: fewer than one-third of small business owners in the United States can afford to retire.

Only 40 percent of small businesses have a workable disaster plan in case of the sudden death or disability of the owner, and only 42 percent of small businesses in the United States have a succession plan. Fewer than 11 percent of family-owned businesses make it to the third generation beyond the founder. Lack of succession planning is the second most common reason for small business failure.   

Areas Covered in the Session

  • Deciding What to Do: Life and Career Planning for Small Business Owners and Family Leaders
  • Considering Your Choices
  • Planning for Succession in Small and Family Business
  • Planning the Strategy for Succession
  • Recruiting a Successor from Inside, Outside, or Utilizing Other Options for the Organization
  • Special Issues in Small and Family Business Succession Planning
  • Family-Owned Business Dynamics and Politics
  • Questions and Answers about Psychological Issues in Small and Family Business Succession
  • Questions and Answers about Legal Issues in Small and Family Business Succession
  • Questions and Answers about Tax and Accounting Issues in Small and Family Business Succession
  • Questions and Answers about Financial Planning Issues in Small and Family Business Succession
  • Questions and Answers about Talent Management Issues in Small and Family Business Succession
  • Transitioning the Business and Executing the Plan

Who Will Benefit

  • Owners
  • Senior Leaders
  • Professionals of small and Family-Owned Businesses

Speaker Profile

Dr.William J. Rothwell, Ph.D., SPHR, SHRM-SCP, CPLP Fellow is a Professor of Learning and Performance in the Workforce Education and Development program, Department of Learning and Performance Systems, at The Pennsylvania State University, University Park campus. He is also President of his own consulting firms-Rothwell & Associates, Inc. and Rothwell & Associates, LLC. At Penn State University he heads up a top-ranked graduate program in organization development/change. He has authored, co-authored, edited, or co-edited 300 books, book chapters, and articles-including 111 books. Before arriving at Penn State in 1993, he had nearly 20 years of work experience as a Training Director and HR professional in government and in a multinational business.

As a consultant he has worked with over 50 multinational corporations including Motorola, General Motors, Ford, and many others. He has traveled extensively and has visited China 83 times and Singapore 32 times-among many other international travels.

In 1997 he and his wife founded a small business-a personal care home for the elderly that employed 27 workers. That company was sold in 2017.

He presently has four books in press: Workforce Development: Guidelines for Community College Professionals (Rowman-Littlefield, 2020 in press); Increasing Learning and Development’s Impact Through Accreditation (Palgrave, 2020 in press); Human Resource Essentials (Society for Human Resource Management, 2020 in press); and, Winning the Talent Wars Through Neurodiversity (Taylor & Francis, 2020 in press). His most recent published books include Innovation Leadership (Routledge, 2018), Evaluating Organization Development: How to Ensure and Sustain the Successful Transformation (CRC Press, 2017); Marketing Organization Development Consulting: A How-To Guide for OD Consultants (CRC Press, 2017); Assessment and Diagnosis for Organization Development: Powerful Tools and Perspectives for the OD practitioner (CRC Press, 2017); Organization Development in Practice (ODNetwork, 2016); Practicing Organization Development, 4th ed. (John Wiley, 2015); The Competency Toolkit, 2 vols., 2nd ed. (HRD Press, 2015); Organization Development Fundamentals (ATD, 2015); Effective Succession Planning, 5th ed. (Amacom, 2015), Creating Engaged Employees (ATD, 2014); The Leader's Daily Role in Talent Management Creating Engaged Employees: It’s Worth the Investment (McGraw-Hill, 2014), Optimizing Talent in the Federal Workforce (Management Concepts, 2014), Becoming An Effective Mentoring Leader: Proven Strategies for Building Excellence in Your Organization (McGraw-Hill, 2013), Talent Management: A Step-by-Step Action-Oriented Approach Based on Best Practice (HRD Press, 2012), the edited three-volume Encyclopedia of Human Resource Management (Wiley, 2012), Lean But Agile: Rethink Workforce Planning and Gain a True Competitive Advantage (Amacom, 2012), Invaluable Knowledge: Securing Your Company's Technical Expertise-Recruiting and Retaining Top Talent, Transferring Technical Knowledge, Engaging High Performers (Amacom, 2011), Working Longer (Amacom, 2008), and Cases in Government Succession Planning: Action-Oriented Strategies for Public-Sector Human Capital Management, Workforce Planning, Succession Planning, and Talent Management (HRD Press, 2008).

Dr. Rothwell received his Ph.D. from the University of Illinois at Urbana-Champaign with a specialization in Human Resource Development, his M.A.B.A. in Business Administration with a specialization in Human Resource Management from Sangamon State University (now called the University of Illinois at Springfield), his M.A. in English from the University of Illinois at Urbana-Champaign, and his B.A. with High Honors and Department Honors from Illinois State University in Normal, IL. He holds certifications in HR (SPHR and SHRM-SCP), Corporate Training (CPLP Fellow), Organization Development (RODC), and Life Insurance (the FLMI designation).

He can be reached by email at WJRothwell@yahoo.com or by phone at 814-863-2581. He is at 310B Keller Building, University Park, PA 16803. See his website at www.rothwellandassociates.com, his videos on YouTube, and his wiki site at https://en.wikipedia.org/wiki/William_J._Rothwell