The Succession Process in Five Phases.
Managing the succession process is a complex challenge. It generally takes several years. As a strategic partner to your company, we provide you with our experience drawn from completing many succession processes.
There are a variety of process models for the succession process. Our practical experience reveals five phases:
The earlier that succession becomes a topic of open discussion, the greater the room for maneuver in regulating the succession. This is why it is advantageous to do so when the entrepreneur is still at the apex of his or her ability to perform.
In most situations it is advisable to discuss needs relating to succession with stakeholders (family, management, employees, external providers), and to develop several options that are both sound and feasible.
Both the company and those affected have to be prepared with individual measures for the succession, whereby the decision is often made as to which option will be implemented.
A smooth handover ensures continuity and success. In a longer transition phase, you move from being the boss to being a coach. Together with the successor, you determine your role throughout this period.
Implementation and Conclusion
The succession process is completed only after the entrepreneur has left the company. When that time is, is something that must be predefined. In addition, alternative activities need to structured for the entrepreneur.
We're always here for you, and that's on a personal level too. To arrange a personal consultation or to discuss your questions about succession, call us toll-free on 0800 88 88 74* or use the contact form.
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