Family Business CEO Succession Planning Assessment
When family businesses need to appoint a successor or fill an open CEO or C-suite position, they often rush to identify who will fill the role before considering what is needed from its executive team.
If your business can’t define the skills and values your CEO hire will need to thrive – and empower your business to achieve its goals – you likely aren’t ready to find your who. Prematurely placing the wrong CEO can cost your business financially and reputationally – and set you back for years. To avoid these pitfalls – and find a CEO who will serve as a long-term steward for your business – it’s critically important to do your due diligence take a strategic approach to CEO succession planning.
To help you assess your readiness to hire, we created a free CEO succession planning assessment. Completing it will give you insight into whether you’re ready to hire a new CEO – and identify what aspects of CEO succession planning may be needed prior to vetting internal candidates or embarking on an external executive search.
Our family members are aligned on the long-term direction of the business.
Our family values are clearly defined and understood by our family members, employees, customers, and community.
Our business is well-prepared to handle a leadership transition, and current leaders are ready to transition when the time comes.
There is alignment within the family about the timing and process for leadership transition.
We have a documented and actionable succession plan that includes identified successors and a transition timeline.
Family members who work in the business have a clear understanding of their roles, responsibilities, and future within the company.
Non-family executives are empowered to make key business decisions autonomously.
Senior leadership consistently meets or exceeds performance goals aligned with our strategic objectives.
We offer competitive compensation and long-term incentives to retain key leaders and executives.
Our senior leadership is actively developing and mentoring the next generation of leaders (family or non- family).
Our Board of Directors or advisory group provides strong oversight and ensures leadership accountability.
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