Succession Management

At its core, management succession planning involves the transfer of ownership and control of a firm to new management. In most cases, this might entail transferring ownership to a family member or key employee(s), selling the business to a third party, management buyout or voluntary liquidation.

As you consider your business continuity options, there are two key pieces of the puzzle to consider: money and people. Both sides must be carefully weighed if the business is to survive from one generation to the next, with the people-side often being more complex.

Clients thinking about transferring ownership look to the experts at FMI to help navigate this transition and create plans tailored to your unique situation. Our succession management consultants work with you to evaluate your talent, provide appropriate leadership development strategies, and clearly map next steps to ensure your organization is advancing in a timeframe that matches your longer-term objectives.

Our succession planning consultants help you:

• Learn the keys to evaluating and developing successful future leaders for the company.
• Gain a full understanding of the business continuity planning process and your role in making the plan a reality.
• Receive ongoing guidance relative to your company’s ownership transfer and business continuity challenges.
• Establish benchmarks to track succession readiness and outline the specific experiences and areas of expertise that a future leader will need.