Ownership Transfer and Management Succession: 2017 FMI Survey
For more than a decade, FMI has been surveying the construction industry to gain deep insight into current ownership transfer trends. In this year’s study, we also explored questions around leadership succession to assess how companies are identifying and developing their next-generation leaders. Our findings revealed new, emerging ownership trends and mixed results on how companies are developing and preparing their future leaders.
Here’s a summary of the key findings:
- Fewer firms have family members active in their businesses today than they did in 2013. Even fewer firms say that the next generation will both own and run the business in the future.
- ESOPs are resurging, and more firms are recognizing the challenges of the third-party sale.
- Firms with a clear vision and strategy for the future are more likely to have a formal ownership transfer and succession management plan in place.
- Succession in our industry will require embracing nontraditional means of development and cultural shifts.
