Understand the shoes you need to fill
Company leaders have spent decades pouring into the business. It requires a great deal of trust and assurance for them to prepare to leave the business in capable hands. Start by honoring the level of experience and expertise they’ve brought to the company. Key veteran members need to know how truly valued they are. You’re not looking to replace them because you’re looking for them to leave, but rather because you understand the massive shoes that will be left to fill.
Remember the roots
The Boomers were a part of a culture that associated the concept that the more you work, the more value you bring to the table. There’s been a big shift in the world in the past few years. People aren’t aspiring to work 60+ hours a week anymore. They’re generally looking to be more effective and efficient so they can serve with balance between work life and family life.
Have conversations early
Remember that the leaders of the company have invested a great deal of their lives into the success of the business. I encourage you to set the tone for early and candid conversations around the future transition. We all want the same thing – the continued success and forward movement of the business. There’s a wealth of information in the heads of these veteran leaders. If we don’t think about their transition years in advance we won’t successfully be able to position the business in a way to effectively replace them. We want to create a collaborative plan so that they enter retirement feeling confident in the way the transition is being handled and knowing that they’ve left it in extremely capable hands. Afterall, it’s important to plan in advance – sometimes retirement happens earlier than originally planned and you want to make sure the business was prepared well in advance.
Are you in need of more support to develop and execute an executive leader transition plan? Connect with my team to learn more about how we can provide tailored support at: buildinggurus.com/discovery.