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RETIREMENT AND SUCCESSION PLANNING FOR SOLOS Law Practice Management Lynn Davis Ward & Burton LLC Dallas Friday, June 27, 2014 3:45 p.m. 4:15 p.m.LYNN DAVIS WARD, JD, MBA, CPA Lynn Ward has practiced
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Retirement and succession planning involves creating a strategic plan for transitioning key roles within an organization as employees retire. It ensures a smooth transfer of knowledge and responsibilities.
Employers are typically responsible for creating and implementing retirement and succession plans, but all employees are encouraged to participate in the process.
Retirement and succession planning can be filled out by gathering information on key employees, their roles, skills, and potential successors. It should involve collaboration between HR, management, and employees.
The purpose of retirement and succession planning is to ensure business continuity, retain institutional knowledge, and develop future leaders within an organization.
Retirement and succession planning should include details on key positions, potential successors, training and development plans, and timelines for transition.
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