Executive leadership is a critical component in the success of all companies. 

Who will take over? Business Succession Planning is a strategic approach to ensure that necessary talent and skills will be available when needed in the future and that the essential knowledge, expertise, and experience will continue when employees in critical positions retire or leave.

As many business leaders approach retirement age, many organizations risk leadership deficits and business disruption due to a lack of adequate succession planning and leadership top-grading. When asked, 62% of employees said they would feel more engaged if they knew a succession plan was in place. In family businesses, succession planning helps uphold your family’s net worth and maintains the legacy and identity that you have created. In addition, building redundancy in your workforce makes multiple options for management.

Succession planning should be a part of your long-term strategy. Challenges may include the breakup of a leadership team during a transition, your current “bench” of talent is no longer a fit or unexpected departures. Whether in-house or externally, you need to have quality successors and plans to implement them in mind. 

BEST Human Capital and Advisory Group identify growth areas within current individual team members and outside candidates to achieve an effective leadership hand-off. Shifting generations cause a significant imbalance in the supply and demand of quality, experienced leadership talent. BEST partners with clients, developing criteria for identifying up and coming leadership talent by focusing on long-term hiring strategies and practices for leadership development at all levels. Organizations that prioritize and commit to developing emerging leaders will enjoy the many benefits afforded by a productive leadership culture. BEST will help companies:

• Identify the cultural objectives for leadership.
• Determine current and future leadership needs.
• Recruit and hire professionals who exhibit strong leadership potential.
• Help accelerate a professional’s assimilation into the organization and leadership development.
• Provide advisory and executive coaching to your emerging leaders. We have developed a network of coaches with various backgrounds and experiences.

BEST supports companies struggling to adapt millennials and Gen Z’ers into their existing organization. The struggle between Baby Boomer and Generation X professionals assimilating with Millennial and Gen Z professionals is real. It’s also healthy. BEST will work closely with you to provide generational understanding and communication to bridge these challenging generational divides.