Succession Planning

Planning for Tomorrow - Today

The most important responsibility any organization has is to assure a smooth, effective transfer from one generation to another to preserve its sustainability and viability. You’ve worked hard to build your firm, and you want to ensure that your people and clients are taken care of as you hand it off to the next generation.

However, succession planning is not a static process, rather a constant work in progress. Firm circumstances constantly change along with owners’ wants and needs and oftentimes much larger economic and environmental factors. That’s why a well-defined succession planning process is essential for all firms.

Some may look at succession planning as a way to ensure they leave behind a successful firm to continue payments during retirement. But there are many other benefits, including:

  • Prepare for unexpected events. Sudden illness, family emergencies or even death among firm owners can cause disruption in client service and firm operations. Having an adaptable plan can ensure continuity in the event of any unforeseen circumstance.
  • Support your strategic plan. By identifying individuals who will succeed retiring partners, you’re able to better align your up-and-coming talent to follow and build upon the successful path you’ve forged.
  • Give you peace of mind. You spent 30-40 years building your practice. Not only do you want to make sure the firm continues to excel, but you want to know there’s a seamless process in place to transition your work and clients to the next generation so you can enjoy your post-firm years.

Carl George has worked with dozens of firms, and specifically partners, as they approach retirement to develop personalized plans for their remaining years at their firms. He should know how it works since he bases his strategy on the process, he created for selecting his own successor as CEO of Clifton Gunderson. Carl will work with you and your team to achieve the following:

  • Meet with firm leaders to understand the current process in place
  • Identify immediate issues and needs
  • Design a process that aligns with firm strategic objectives and is practical to implement
  • Assess “bench strength” within the firm and create a plan to resolve leadership gaps
  • Review and help implement the process with firm owners
  • Develop personalized exit strategies for those nearing retirement
  • Create a succession planning process for upcoming senior management
  • Develop desired attributes for next-generation leaders and coach them on how to move to the next step.

Contact me today to learn more and discuss how I can help your firm.

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