Change is Inevitable

The fast pace of today’s business world means that people face many more changes.  Sixty-seven percent of leaders report that their organizations now experience “some or many more” changes than they did in the previous year.

These changes tend to start at the top and then cascade through the senior ranks.  69 percent of new CEOs reshuffle their management teams within the first two years. While this may mean more opportunity for someone looking for a change, it disrupts those who hoped to stay in their position for a long period.

When stability is what you seek from an employment situation, actively seek out companies that demonstrate these traits.  If you thrive in fast-paced environments, a company with a track record of taking chances might be worth pursuing.

Not every business operates in this fashion.  Many fail to have a change plan at all.  According to a recent survey, 78% of business owners said they enjoy managing their company too much to start thinking about a future change. In addition, 42% said they were too busy to start planning, while 44% felt that a change was too far in the future to establish a plan.

A big part of legacy planning for business owners is changing to new ownership when life takes a turn.  Even passing the business to a family member has a small chance of a successful change.  When you have strong intentions about the future, it’s prudent to plan it now.