Succession planning is the process of identifying and developing new leaders who can replace current leaders when they leave, retire, etc. Succession planning increases the availability of experienced and capable employees prepared to assume these roles as they become available. Effective succession management concerns identifying specific back-up candidates or solutions for transition given the options available.
Succession planning is an essential step in creating a plan to help the company continue its growth plan with changes in ownership/management or both. A critical element of any succession plan is to address both ownership and management succession and leadership development.
As part of our Strategic Operations and Advisory Resources (SOAR) team, strategic and succession planning consultants at BeachFleischman help Arizona business owners and CEOs to achieve their tactical and strategic growth, operational, and financial goals through succession planning development and implementation.
Recognizing that the best solution is the most practical and cost-effective, we collaborate with you to ensure that our recommendations utilize your current resources and talent rather than recreating the wheel. Our team brings in-depth industry specialization, business acumen, objectivity, creativity, and critical thinking to the table to produce innovative, optimal solutions.
Do you need Succession Planning?
- Change or pending change in ownership of a business
- Conflicting leadership visions within your executive team
- Create an exit strategy for owners
- Create a succession plan to maximize the value of the company at the time of transition
- Desire to transition management
- Develop and implement your organization’s succession plan to align current talent development with future leadership needs
- Evaluate, develop, and implement growth strategies such as acquisitions, mergers, joint ventures, and divestitures
- High employee turnover
- Prepare the owners for transition and explore options available
With offices in Phoenix and Tucson, BeachFleischman helps owners and executives of businesses throughout Arizona (AZ) fulfill their strategic goals. If you would like to learn more about our SOAR services, please complete the submission form below.