Suc­ces­sion Planning

Exit­ing your busi­ness does not nec­es­sar­i­ly mean sell­ing your busi­ness. It’s usu­al­ly your choice: you may decide to retain own­er­ship of the busi­ness and put some­body else in charge, or you may hand over the reins to a fam­i­ly member.

What­ev­er your deci­sion, there’s a lot of work to be under­tak­en and hard deci­sions to be made before you can be con­fi­dent that you have a rock-sol­id suc­ces­sion plan. Sad­ly, many busi­ness own­ers do not pre­pare ade­quate­ly for the future and for the major­i­ty of small busi­ness­es, no suc­ces­sion plan is in place. 

Not only does this leave the busi­ness and it’s own­er at risk in the case of an ill­ness or unex­pect­ed event, the lack of an ade­quate suc­ces­sion plan can hand­i­cap the busi­ness by not recog­nis­ing or devel­op­ing the tal­ent required to achieve busi­ness growth and increased profitability. 

A form of insur­ance… and more

You can look at suc­ces­sion plan­ning as a form of insur­ance. How­ev­er, it can be much more and the process of con­struct­ing the plan can often bring out issues that may oth­er­wise lie dor­mant, par­tic­u­lar­ly in fam­i­ly-run businesses.

By giv­ing staff and col­leagues a voice through which they can express their views or con­cerns, issues can be addressed in a time­ly and stress-free man­ner, before the busi­ness reach­es cri­sis point.

If you are wor­ry­ing over your suc­ces­sion plan or the future of the busi­ness, it’s like­ly your staff will be as well. By plan­ning for it togeth­er, if done cor­rect­ly, you can inspire your staff to stay pos­i­tive and involved. 

How we can help

Gor­dian Solu­tions and its asso­ciates can work with you to iden­ti­fy and devel­op the tal­ent­ed indi­vid­u­als you need to ensure busi­ness con­ti­nu­ity and enjoy a stress free busi­ness exit.

We can:

• Work with you and your team to devel­op a bespoke suc­ces­sion plan for your business 
• High­light the crit­i­cal indi­vid­u­als with­in your busi­ness and iden­ti­fy poten­tial cover 
• Under­take skills audit and train­ing needs analy­sis work 
• Car­ry out psy­cho­me­t­ric assess­ments, bench­mark­ing indi­vid­u­als to job roles, both cur­rent and future
• Help you with recruit­ment search and selection

We can also pro­vide all the legal sup­port required to per­form back­ground checks and draw up water­tight contracts.