BUSINESSGet the Wheels in Motion to Start a Succession Plan Today
What is the future plan for your operation? Often, dairies have an idea what their operations will look like down the road, what kind of barn their cows will be housed in and what milking parlor investments they plan to pursue. But they can’t answer who will be the successor of the operation, as no formal succession plan has been set.
Succession planning is the process of identifying the critical positions within your organization and developing action plans for individuals to assume those positions. This process isn’t quick and can take 5 to 10 years when done correctly says Samantha Gehrett with Penn State Dairy Extension.
“In some cases, there could be roadblocks and obstacles that can push the timeline even further out,” she says. “One way to look at the farm's transition plan is as a roadmap of what would happen if the owners/operators of a farm were to suddenly become unable to complete the tasks the farm needs to operate.”
By KAREN BOHNERT
July 19, 2023