When you’re ready to retire, the most important employee is the one you haven’t hired yet.
In addition to assisting you in finding a successor, Acumen has a multitude of resources to address all facets of succession planning.
- Current owners retain some percentage of ownership
- Owner hires President, GM, and/or COO
- Work together for a vesting period of 2-4 years
- New employee either injects cash upfront or percentage of bonus is used for monies to transfer to owner at end of vesting schedule
- Deferred compensation is established and secured
- Insurance policies created for both parties
- All stakeholders agree ahead of time – no misinterpretations
Hire your successor without a fire drill and with confidence knowing you are well-positioned for your next chapter in life.
Fact: 70% of organizations do not currently have any formal plan or succession planning process
Fact: 45% of the world’s largest corporations have no meaningful approach in place for developing their next CEO
There are only 5 ways to leave your company:
Quit/walk away, get ill, or sadly pass away
Hire from within and train your replacement
Sell your company externally or internally
Give it away – next generation
Recruit your successor – hire a key person to take over
Read Our Latest Succession Planning Blog Posts
- Successions: Is Contingency Planning Enough?Michael Beck of Eliciting Excellence wrote a thought-provoking article about Successions. What happens if the successor you bring in to run your company after you leave doesn’t do well? Michael explains the ways he and his company ensure that the successor you bring in is the right person for the job.
- Transition & Exit Planning: Why, When & How? Hosted by Ideal Business Transition Solutions and Now CFODo you have solutions penned for the uncertainty in life? Are your family and employees protected?
- Transition & Exit Planning – The Why, When, and WhatSuccession planning webinar on how to maximize financial return and strengthen your organization as you plan for retirement.
- Retire Without Selling – Putting Your Plan to Work, Part 3Retiring without selling, putting your plan to work. Part 3 of series lead by Alice Tang, Suzanne Hanifin, Don Bielen, and Jim Grew.
- Retiring Without Selling – Crafting Your Personal Plan Webinar, Part 2Retiring without selling, crafting your personal plan. Part 2 of series lead by Alice Tang, Suzanne Hanifin, Don Bielen, and Jim Grew.
- Retiring Without Selling – Finding Options For You Webinar, Part 1Retiring without selling, finding options for you. Part 1 of series lead by Alice Tang, Suzanne Hanifin, Don Bielen, and Jim Grew.