Succession planning, a concentrated effort to develop and support a talent pool for owners, C-suite, and top-level managers, is a useful tool for organizations of all sizes and in all sectors – public, private, and nonprofit. It ensures leadership continuity by actively identifying and cultivating potential future leaders and investing in individual employee growth and development. Yet, almost 60% of business owners do not have a workable succession plan, and nearly half of those over age 65 have no specific transition strategy (Forbes, 2019). The LLF team of legal experts, business psychologists, senior HR specialists, and skilled strategists have the expertise to help you and your leadership team develop and implement a high-performance succession plan geared towards your unique needs.
Reach out to Helen Ross Petty today to begin a conversation about your succession planning needs. So, what’s the rush, you ask? “We’ve got loads of time. I’m not going anywhere.” Good. Viable succession plans take between one and three years to establish and become functional. And, let’s not forget about an unforeseen crisis. Ask yourself, “Where would my company be if I weren’t here tomorrow?” Beginning now, and not when you are about to exit or when you are in crisis mode, ensures you can develop and implement a workable succession plan with related structures necessary for sustained implementation. Moreover, since succession plans are legal documents, hiring an attorney with business and employment law expertise is essential for ensuring the organization you have built, sweated over, and shed tears over will be just as successful in the future as it is today. Succession planning is just too important to leave to chance. At LLF, we have nonprofit management professionals, business psychologists, highly credentialed HR staff, and legal experts with decades of experience. Our boutique firm is uniquely positioned to help you plan and implement a succession plan customized to your organization and designed to get the results you need.