Succession Planning

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.

TODAY’S trends

  • 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