Executive transitions are one of the riskiest, and most important, phases a business has to go through and that is often highlighted in family businesses where there can be a large number of stakeholders, high emotions, and conflicting perspectives. SRG has partnered with many families throughout the succession process – from early stage planning, to developing the next generation of leaders, to executing the search for a new executive leader – whether in the family or not. We work closely with the family to balance the needs of the business with those of the family to ensure the selected leader has the experience and traits necessary to succeed in the business and within the family dynamics.
SRG consultants have first hand experience with generational shifts in family businesses, and deep experience identifying and assessing executives for family business leadership positions. We work to ensure the process is clear, effective, and positive for everyone involved, from day one through the executive transition.
SRG's executive search experience, family business knowledge, and professional objectivity allows our clients to confidently and fairly assess internal and external candidates in their search for a new leader.
Key Steps to Successful Succession
Start the process early and allow enough time to get it right.
Make sure all stakeholders are aligned on the vision for the company's future and what is needed to get there.
Define the decision making team and engage them all equally and frequently to ensure everyone is heard and on the same page.
Create a consistent assessment and interview model to evaluate internal and candidates equally.
Be sure company governance is in place and agree on a road map for the transition of leaders.