What skills and experience does the second generation need to acquire? " and "what is the second generation's expectation for the future of the business, and is it congruent with the company's vision? " are two of the questions that should be examined to start the process of planning.

Succession planning

Explanation: This is the process of planning and preparing in advance for skills that a business will require in the future.

A company may need to fill in certain positions when older employees leave the business, when they retire, or when they pass away or even when they resign .

They need to prepare people who may take over.

This process involves identifying key business roles, key competencies, potential candidates , designing and implementing the process to prepare and train potential candidates in advance for them to be ready to take on those positions when the time comes .

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