Business succession
„BASICALLY, WE CAN’T AFFORD IT AT ALL,
“DO NOT APPOINT SENATOR – PARTNERS.”
(A family of entrepreneurs from the new federal states – contract awarded in May 2022)
Based on our Comparative selection process Every year – even during the coronavirus pandemic – we fill more than 1,000 management posts per year. The experience gained from every single placement, combined with our intelligent AI, feeds into our dynamic, continuous improvement process, enabling us to become even better in the future. As part of the onboarding process, we support candidates and companies well beyond the point of recruitment. With more than 23,000 successful placements under our belt, we always know what happens next after recruitment.
Providing effective support for a succession process is similar to finding suitable managers for leadership roles. In both cases, we find and provide you with candidates who are a „perfect fit“ – figuratively speaking, a bespoke suit, just as you would like it.
Options for business succession
1. Succession within the family
(a) Transfer of shares within the family
(b) Foundation solution
2. Internal succession
(a) Management buy-out (MBO):
an internal manager takes over
(b) Admission of a co-partner
3. Succession from outside the company
(a) Management Buy-In (MBI):
an external executive takes over
(b) Sale to financial investors, competitors, suppliers or similar parties.
We frequently encounter the following structures and challenges:
In the field of intra-family succession planning,
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- that the successors have adopted different approaches to life from those of the previous business owners (their parents).
- that the successors have different skills and interests, some of which differ considerably from those of the previous business owners.
- that the market has changed and new complementary skills are needed which are not yet available within the company.
- that the potential successors are still too young and a handover does not seem likely for another five to ten years.
In the field of internal business succession planning
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- The existing managers alone are not considered capable of successfully steering the company into the future.
- The managers involved almost always pursue their own objectives, for example to secure a higher position through the succession project.
- New co-shareholders must be found and assessed.
In the area of external succession planning
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- The new manager is not yet familiar with the company and, after taking up the post, realises that there are significantly more problems – including new, previously unknown ones.
- The terms of reference were not worded precisely enough; the new manager has less decision-making authority than had previously been agreed.
- The onboarding process is not living up to its potential.
- The existing managers were not involved in the selection process and are not providing the „newcomer“ with enough support.
Together with you
Working with you, we’ll define exactly what you’re looking for Job Profile and, with our experienced search team and the state-of-the-art digital search algorithms from several hundred candidates the candidates best suited to you. Of course, you decide who is the best fit for you. We’d be happy to support you through the Onboarding the new manager’s first year.
Our success proves us right: The Length of stay of the executives we place is approx. 40 % higher than the industry average.