Call Us: (906) 428-9330

Succession Planning

Succession Planning Consultants

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Our succession planning consultants help small business owners develop a plan for who will succeed them or their key managers in a business. Succession planning helps build and strengthen talent from within a business through planned development activities, mentoring and coaching. Succession planning may also include external hires and their recruitment, assessment and successful integration into a business.

Succession planning is different than
replacement planning which is a form of risk management. Replacement planning is one dimensional and simply seeks to appoint a replacement individual should an unplanned vacancy occur.

Our Succession Planning Model

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Our proprietary succession planning model consists of six key steps:

Step 1 - We begin by identifying those key positions in a clients organization through assessment and talent planning.

Step 2 - We build job models and scorecards for each role, complete with skills, competencies, character, culture and expectations/accountabilities.

Step 3 - Next we assess those being considered for succession planning roles, identifying gaps in their qualifications and experience.

Step 4 - In this step we structure and plan development opportunities to address the gaps identified in Step 3.

Step 5 - Annual development plans are established and reviewed quarterly and bi-annually. We also measure progress in these specific areas by
assessing specific data.

Step 6 - Structured coaching & mentoring. We provide regular feedback to clients and succession planning candidates through 360 degree reviews and structured coaching sessions.

The outcome of our succession planning services is a client and successor who are prepared, aligned and adjusted to their new roles, enabling them to perform to their fullest potential with continued support.

Serving Northern Michigan, The Upper Peninsula of Michigan, Northeastern Wisconsin and Beyond.

Lordstone Business Advisors, Inc. provides succession planning services throughout the Upper Peninsula of Michigan, including the communities of Escanaba/Gladstone/Rapid River, Hancock/Houghton, Iron Mountain, Ironwood, Manistique, Marquette, Menominee, Munising, Sault Ste. Marie, St. Ignace.

Given our proximity to Northeastern Wisconsin and The Fox River Valley Area, we provide succession planning services to companies located in Appleton, Grand Chute, Green Bay, Greenville, Hortonville, Kaukauna, Kimberely, Little Chute, Marinette, Menasha, Neenah.

We also serve businesses located in Northern Michigan, including Alpena, Charlevoix, Cheboygan, East Jordan, Gaylord, Harbor Springs/Petoskey, Indian River, Mackinac City, Mancelona, Traverse City.

We also serve clients nationally and internationally and have experience in more than 40 different industries.
Office Location

Gladstone Office
P.O. Box 469
Gladstone, Michigan 49837

Telephone

+1 (906) 428 9330

FREE CONSULTATION - We love small business! We routinely meet with small business owners over coffee or a virtual Zoom meeting just to learn about their businesses, challenges and goals. No sales pitch, just a get to know you and you get to know us session. To schedule, call us today.

© 2020 Lordstone Business Advisors, Inc. | P.O. Box 469 | 823 Delta Avenue, Suite #104 | Gladstone, MI 49837 | Tel: (906) 428 9330