Executive Integration Service for Family Businesses
Hiring or appointing a leader is the start of a new chapter for family-owned and founder-led businesses. While that new chapter holds enormous potential, it’s also fraught with risk – particularly when the newly appointed executive comes from outside the company.
It’s common for family businesses to overlook the need for an integration plan that prepares the new executive and business to work in harmony with one another. This oversight can lead to misunderstandings and misalignments that can ultimately harm the family, their business and their employees.
Stranberg’s executive integration service gives family businesses a roadmap for navigating leadership changes – and helps build strong foundations upon which lasting partnerships can grow.
Why Family Business Executive Retention Rates Are Low
It isn’t uncommon for family businesses to place a new executive – only for them to be fired or quit within months. According to a Georgia State University study, non-family CEOs have a 40% chance of being fired in their first year.
Many of those firings share a root cause: misalignments that arise from a lack of defined processes and expectations. Many family businesses don’t have or can’t articulate their vision. Instead, they assume the executive knows what the family is looking for and expect them to act accordingly.
When major questions about decision authority and goals are left unanswered by business owners, executives will strive to demonstrate their value however they see fit – which may be in inadvertent opposition to the family’s desires.
How Stranberg’s Executive Integration Service Works
Stranberg works with businesses to devise and implement policies that empower new executives to thrive – and work in alignment with the family. We help owners define their vision and expectations for the executive, then facilitate the onboarding and inboarding process.
Onboarding
The work that goes into setting a new employee up to work in a business (e.g., introductions, payroll, account logins)
Inboarding
The initial behaviors a new hire needs to exhibit to perform effectively in their new role
Once the new executive is up and running, we provide continuing support through integration coaching and quarterly and annual reviews. By taking a structured, methodical approach to executive integration, we ensure all parties are aligned and working in unity toward shared goals.
Our Process
Define a ‘One-Year Vision’
We work with your family to establish a one-year vision. This vision will serve as the executive’s north star.
1
Identify Key Behaviors
Once the vision for the role has been defined, we help you identify key behaviors the executive is expected to exhibit to meet your objectives.
2
3
Establish Metrics
In addition to behaviors, we will establish metrics the executive will be required to hit. Metrics ensure assessments are objective – not emotional.
Conduct Reviews
On a quarterly and annual basis, we will check in with your family and the executive to assess whether performance and expectations are aligned.
4
How to Get Started
Executive integration is the third and final step of Stranberg’s executive succession planning process.
01
Define what your organization needs from its executive team
02
Find who is most qualified to fill the role, whether internal or external
03
Ensure alignment through structured processes and continued support
Contact a Stranberg succession planning expert to learn how our executive integration service can help you retain your new leader for years to come.