A few weeks ago, I suggested a few succession planning options that senior business owners could consider as they are approaching their retirement age. One of those options was having a professional manager or CEO run your business. Giving your throne and position to a professional CEO could be challenging, especially for business owners who have founded their firm since its inception and have a deep emotional attachment with their business. My own research suggests that businesses run by founder CEOs tend to perform better than professional CEOs. These findings

All businesses claim to value their employees and to be committed to a culture that recognizes and rewards employee achievements. But success in this effort may be elusive, particularly if employers only half-heartedly embrace an “employee-centric” culture. By contrast, businesses that actively pursue this goal often find that they retain valued workers longer and that their recruiting efforts for new hires benefit from a culture of employee recognition. Here are ways you can build your own culture of recognition and demonstrate how much you appreciate the efforts of your team