Succession Planning — Mar 18 Online PEN Discussion

03/18/2021 | 7:45 am - 9:00 am
Nexus Community Partners

Succession planning is key for any organization: done effectively and systematically, it provides leadership continuity, it facilitates leadership development across the organization, and it ensures consistency and sustainability of the enterprise.  Today, with a growing number of leaders at all levels approaching retirement, it has become a strategic challenge for many organizations.

The Performance Excellence Network — in partnership with the St. Paul Area Chamber of Commerce — is pleased to host an online webinar discussion on Thursday, March 18: “Succession Planning.”  The discussion will feature three speakers from Nexus Community Partners.

During this session, you will hear advice that is applicable to all organizations regardless of what stage your business is in or your organization’s sector/industry (some estimates show up to 30% of educators/administrators may retire in the next 3-5 years!).  Through succession planning, business owners and organizational leaders can be prepared for unforeseen potential from:

  • The Four D’s: Death, Disaster, Disability and Divorce
  • The “Silver Tsunami of Retirement” — as baby boomers retire, our local business landscape is poised to go through a dramatic shift & we will see a substantial ownership and  leadership changeover of locally held businesses and organizations

The three speakers will each share a key message and some insights in a 10-minute mini-presentation, followed by interactive Q&A:

  • Christina Nicholson, Program Manager of The Worker Ownership Initiative, will lead off with who is Nexus, what do they do and impacts/goals of succession planning and how it fits in economic ecosystems;
  • Miyaka Cochrane works for Project Equity and will present on national trends; and
  • Benjamin Tsai, Director of The Worker Ownership Initiative, will present 2-3 case studies based on local companies — examples that could be replicated by other organizations.

The three speakers will share demographic statistics that demonstrate the massive need for succession planning in the US, in addition to  regionally-specific data that was developed through a partnership of Nexus Community Partners and the Center for Urban and Regional Affairs (CURA), an  institute of the University of Minnesota.  During the discussion, the speakers will debunk myths about cooperatives and share insights on the performance benefits of employee-owned businesses, both of which can be applied to other types organizations including nonprofits. Learn why this strategy is expanding nationally to address baby boomer retirement, along with racial and economic inequities in business ownership.

This session is Thursday, March 18 from 8:00-9:00 CT (optional speed networking and mingling 7:45-8:00), using Zoom MEETING.  Grab your coffee and breakfast, and join us for a rich discussion.  Free for PEN/SPACC members; $20 for non-members.

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