R.R. Roads and Sons has been manufacturing various metal brackets for over a hundred years. It has been run by the Roads family men all during this period. Now within the latest generation of Roads men, no one is interested in taking over the family business. There have been generations of women in the family that have never even been considered to run the business. Now the board of directors for the business (made up entirely of Roads family members, with some older female family members in their 70’s included) has to chart the direction for the family business going forward. The board wants to keep the management of the business within the family, but are open to looking at other options as well. The business does have two older male employees, in their 60’s, who are supervisors and have been there for decades. However, they have not been trained to have a career path in managing the whole company.
What recommendations can you make with regard to talent management, career paths, and succession planning to help this company move forward on this issue?
Also, what can this company do to ensure they don’t run into this problem again, and why would that be important to consider?
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