Who Will Manage Your Company In the Future?

Having strong managers in key positions makes for a smooth transition – your bench can never be too strong or too deep.

Replacing the founder of a company or successful CEO as the next generation leader of a company is not easy. It has been our experience that developing a successful management succession plan often takes longer and can be as challenging as creating an ownership succession plan.

Identify critical competencies. This means evaluating a potential future leader’s ability to do the job based on experience and academic training, as well as evaluating his or her skills as a leader. Key managers need to be fairly well rounded in a wide range of competencies.

We focus on three competencies when sizing up your talent:

• The ability to think strategically;
• The ability to communicate; and
• The ability to motivate and develop others, and hold them accountable for their performance

Right person, right job. We help you clearly define roles, performance expectations, and reporting relationships for all managers – family and non-family. For an individual with high potential, we help you assess their leadership potential and communicate a career path that articulates how a leadership position in your business can be earned. We can provide development through mentoring and coaching. We also encourage participation in outside training programs and leadership-focused professional associations.

Letting go and stepping up.  You’ve got your people in place, roles defined, and performance measurement established. Now it’s time to make the transition and stand behind your people, with the confidence that you’ve done your homework and set the stage for success.

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