Succession Planning

Planning for that future takes time and strategy to figure out, and family businesses have a lot at stake when it comes to planning for the future of their company.

With the success of the business comes challenges in managing change.

How will the company thrive in an economic slowdown?
What if someone becomes ill or dies?
What if one of us "burns out?"

Keider Consulting Group helps family businesses develop plans for the future through:

strategizing a future vision for the business
assessing the current talents of the organization
design talent development plans for high-potential candidates
preparing and pacing the business for the change
gradually releasing responsibilities and changing roles

Family Business

Family businesses have a lot at stake when it comes to the growth and development of their people.

Too many times, family businesses get stuck in the habits and practices of when the business was founded.

In a family-run business, relationships are at the heart of making decisions. Leaders have a sense of loyalty to the people, the process, and profits. This dedication often leaves one or two people with much of the responsibility for making key decisions.

Questions about your family business:

What is the ownership structure?
What is the overall vision for the business?
How is your business governed? How are decisions made?
How does your company recruit non-family employees?
What is the business's succession plan?

Keider Consulting Group helps family-run businesses grow through:

keeping relationships at the forefront of change decisions
ensuring communication of vision, goals, and impact
training and developing leaders from within the talent pool
collaborating across departments and roles

Where is your talent pipeline?

emergency

Emergency successors should be those capable of doing the job for a short, cover period only - usually up to three months.

ready now

A Ready Now successor is a person who is presently competent and ready to take over the role immediately.

Ready 1 -3 years

Ready 1 – 3 years successors should be capable of potentially filling the role within this time frame.

none available

None available means there are no available successors for a role. This requires a business decision to either grow talent internally through graduate or designated programs or to externally source successors.

Muthusamy, A. (2018). Succession Management : The Definite Do’s and the Detrimental Don’ts. KR Publishing.