What is Succession Planning?
Succession planning is the strategic process of selecting – and developing – a suitable replacement for a company’s leader in the event of his or her resignation, retirement, or death.
Bluewater Advisory’s fully-customizable succession planning services can help your company determine who will take the reins when key executives no longer can – or want to.
Who Will Steer Your Ship?
Leadership departures, both projected and unexpected, can threaten your company’s stability, creating uncertainty among employees and ultimately posing a risk to shareholders.
And yet an astounding number of businesses do not plan ahead for a change in leadership. They are left scrambling when a presumed successor falls through or – worse – tragedy strikes.
Don’t allow crisis or poor preparation result in hasty decisions that are potentially damaging to your company.
Fostering Future Candidates
Whether anticipating a natural succession, or developing an expedited plan that can be implemented at a moment’s notice, our team will first conduct a proactive and holistic evaluation of your business, its goals, and its employees, while maintaining sufficient distance to guarantee objectivity.
Bluewater concierges the entire succession planning process, while:
- Identifying potential successors from your in-house talent pool.
- Grooming and mentoring your existing leadership bench for natural succession purposes.
- Conducting a thorough search for outside talent using our patented job benchmarking process, should the need arise.
Following The Leader
Most importantly, Bluewater’s succession planning services revolve around the wishes and desires of your company’s current leadership.
Many business owners may have a successor in mind, but have yet to communicate the choice to their board of directors, or even the candidate, themselves. We can ensure these critical conversations take place, while verifying the suitability of such plans.
While planning for a replacement requires ample time and can be emotionally charged, the process yields a strong example of leadership, resulting in a defined – and often uplifting – path.
As your trusted, hands-on partner, we are committed to devoting the time and energy necessary to enable a smooth transfer of authority and sustainability for your company.