Many families and businesses put too much effort and attention into the planning process of succession rather than the development process. This creates a false sense that the planning process is an end in itself rather than a precursor to real development. Plans do not develop anyone — only development experiences develop people.
So how will you ensure continuity in leadership if the Family prospective leader is not prepared?
The impact of executive coaching in the succession process cannot be understated. Succession coaching is a valuable tool to grow future leaders and to ensure continuous development within the family and family businesses. It is an important human capital investment that families and businesses are recognizing as a critical strategy in achieving long-term vision of the organization.
Highly Focused Leader Preparation
Our coaches provide potential family business successors with a sounding board for their development and the opportunity to build their leadership skills in a highly focused way. The coaching relationship is a partnership between the potential successor and the coach which focus on the individual’s needs as well as the needs and goals of the family and family businesses.
Our coaches help potential successors create a personal development plan that:
- Aligns their personal objectives with the goals of the family and family businesses
- States their vision for the family and family businesses as well as their own career and life
- Lays out their plans for skills developments and how these skills complement the family’s and businesses’ strategies
- Serves as guide to their development journey as they prepare for a demanding role and larger responsibilities
Benefit of Using Coaching as a Resource for Succession Development
Executive coaching during a succession program helps the family members and executives determine a clear direction of where they are going and how they are going to get there. On the other hand, family members and executives that are not offered coaching are not as well prepared to map out their career and life path or develop the skills they need for future possibilities. Executive coaching facilitates the process of creating successful careers, life plans and developing future leaders.
What to Expect from our Coaches
- Our coaching focuses on individual results as well as organizational results.
- We align executive coaching to talent management, family business strategies, and family strategies.
- Our coaches are experienced in working with family members and family business executives around the world.