According to the Pew Research Center, every day 10,000 baby boomers turn 65, and this process of aging will continue through 2030. There are many implications but most importantly for the textile services industry, many of these boomers own closely-held, family businesses. Unless they develop the next generation of leaders, there will be a surge of consolidation as boomers retire.
 
There are many components of succession planning; often the most neglected aspect is grooming the next generation of leadership for their new role and responsibilities. This leadership-training process is important—regardless of whether you plan to pass the ...