Generational differences in the workplace and succession planning in the family business are two of the topics to be highlighted in upcoming Wake Forest University Schools of Business Family Business Center forums.
Stacey Randall, the founder and chief consultant of SBR Consulting, will present “Generational Differences: Reality or Hype” at the first of the quarterly forums, on Feb. 22. Randall will discuss the key workforce attributes for each generation, and the implications for attracting, retaining, and rewarding different generations in the workplace. Forum participants will also receive copies of SBR’s proprietary research findings on how the recession is affecting the millennial generation and attraction and retention strategies.
In the second part of the program, local business leader David Congdon will share the story of his family business, Old Dominion Freight Line Inc. Earl and Lillian Congdon founded the company is 1934. Today, the Thomasville company employs more than 10,000 people and is led by 3rd generation family member David Congdon. He was named the 2010 Triad Area Business Leader of the Year.
“Generational Differences: Reality or Hype” will run from 8 am to 1 pm at the Graylyn Conference Center, 1900 Reynolda Road, in Winston-Salem.
In the second quarterly forum, on April 7, Kathy Bowman Atkins of The Latitude Group will present “Succession Planning: A Broader Perspective.” Just as the title suggests, her approach to succession planning extends beyond simply choosing a successor. The program will address such issues as strategic planning for both the departing and incoming leaders, and ensuring the most transparent transition possible.
The forum will also feature David Murphy, the chief executive of Greensboro’s Mother Murphy’s, a market leader in the flavorings and extracts industry. Over the years, Mother Murphy's customer base has expanded beyond commercial bakeries to include major food and beverage producers, the tobacco industry, and pharmaceutical companies. To stay at the forefront of flavor technology, Mother Murphy’s completely updated their laboratory facilities in 2003 with an expansion of its labs to more than 3,300 square feet.
"Throughout our development and expansion, Mother Murphy’s is at heart a family business that spans three generations," says Murphy, the son of founder Kermit Murphy. "We have seen an orderly succession of leadership throughout six decades.”
“Succession Planning: A Broader Perspective,” will run from 8 am to 1 pm at Graylyn.
Family Business Center forums are only open to Family Business Center members, sponsors and their guests. For information on FBC membership and guest policies, please contact Kathy Baker at (336) 758-3568. Member dues and corporate sponsors BB&T Wealth Management and Womble Carlyle Sandridge & Rice fund the Family Business Center in the Triad.
The Family Business Center, established in 1999 under the Angell Center for Entrepreneurship in the Wake Forest University Schools of Business, addresses issues faced by closely held and family firms. The member-based organization uses the capabilities and educational resources at Wake Forest, in the community and beyond to provide closely held and family firms the assistance they need to grow and succeed from generation to generation.