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Developing a Retention Strategy for Key Employees

As discussed in my previous blog, retaining key employees during times of ownership/management transition is vital to your business’ success.  Therefore, it is important to develop a strategy to retain those employees when developing a comprehensive succession plan.  Here are four key components of a successful retention strategy that will help motivate key employees to stay with your company...

Retaining Key Employees During Transition

Oftentimes, we work with agribusinesses that have long-term key employees who are critical to the success of the operation.  Without these capable successors and employees, many businesses do not survive the departure of the owner. The chance for endurance is further diminished if key employees choose to jump ship instead of adapting to the new owners and management. Therefore, a comprehensive succession plan should contain strategies to identify and retain these essential team members.