Human resource risk and succession planning

A Edward Staehr

Agricultural Finance Review, 2015, vol. 75, issue 1, 133-139

Abstract: Purpose - – The purpose of this paper is to illustrate the benefits of utilizing teams of personal and financial consultants to work with farm families in New York State on issues affecting farm business performance. Design/methodology/approach - – Program experience in implementing an integrated consulting model provides a framework for illustrating how such a model may be utilized on farms and other family businesses for succession planning. Findings - – An integrated personal and financial consulting model is effective in producing lasting business results such as business growth, improved profitability, and reduced interpersonal conflict on farms in New York State. Originality/value - – Farmers employ a multitude of risk management tools, such as crop insurance, to reduce various types of risk affecting their farm businesses in New York State, but an area often overlooked by farmers is managing human resource risk, namely succession risk. As the average age of farmers in the USA continues to increase, employing new tools and strategies is critical when developing an effective business succession plan for farmers.

Keywords: Risk management; Human resource risk; NY FarmNet; Succession planning (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:afrpps:v:75:y:2015:i:1:p:133-139

DOI: 10.1108/AFR-02-2015-0008

Access Statistics for this article

Agricultural Finance Review is currently edited by Valentina Hartarska and Denis Nadolnyak

More articles in Agricultural Finance Review from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().