Round Governance Services Limited’s Post

The results of a poll we shared recently on succession planning showed that in 72% of cases, the Company Secretary was involved in Board succession planning - we like to see this! In our post below, we highlight what we believe are the core steps for putting an effective Succession Plan together. https://lnkd.in/ewbEDDfh #boardsuccession #governance #companysecretary #directors

Struggling with succession planning? You're not alone. Many business leaders face the challenge of ensuring their legacy while securing the future of their company. At SUMMIT, we provide tailored solutions to simplify this complex process. Our expert team will guide you through creating a robust SUCCESSion plan that safeguards your vision and ensures continued growth. Let's turn your succession challenge into a seamless transition. Ready to secure your business's future? Follow and connect with me to get started. #SuccessionPlanning #BusinessGrowth #FutureReady #SUMMIT

Succession planning has always been important, but not critical. Now, in 2024, it has evolved from "should do" and "must-do" to "cannot wait." Many external factors make it increasingly pertinent for organizations and leaders to identify their next-in-line. So "don't wait" to read the Inc article, 3 Succession Situations to Plan For (and why every CEO needs to put succession planning at the top of their list) https://lnkd.in/gKZvuf2c.

The key to great succession planning? Start early and embrace the humility to prepare someone to excel beyond you. Recently mentioned in Forbes, our #client Cornerstone OnDemand's CEO, Himanshu Palsule, shares his thoughts on what executives should be looking for when thinking about succession planning, and how executives can pass along key skills to the next generation: https://bit.ly/3ARIQ2N #ClientSpotlight #WeMoveIdeas

So what’s next? Are you worried about succession planning or how to exit your business? You're not alone. Many business leaders face the challenge of ensuring their legacy while securing the future of their company. At SUMMIT, we provide tailored solutions to simplify this complex process. Our expert team will guide you through creating a robust SUCCESSion plan that safeguards your vision and ensures continued growth. Let's turn your succession challenge into a seamless transition. Ready to secure your business's future? Follow and connect with me to get started. #SuccessionPlanning #GuidedBusinessGrowth #FutureReady #SUMMIT

Rushing through succession planning? Think again. Slow down, strategize, and succeed. In this NACD article, Suzanne Bates and Sarah Woods dive into the step-by-step approach to succession planning that will ensure long-term organizational prosperity: https://bit.ly/3QptPKi #StrategyMadePersonal #SuccessionPlanning #LeadershipDevelopment #ExecutiveLeadership #StrategicThinking

What’s the biggest challenge in your succession planning? Connect with Philip Whitman, CPA, CEPA for a strategy session on securing a smooth and successful transition! For many CPA firms, obstacles like a lack of future partners, confidence in younger leaders, limited time to vet options, and alignment within the partner group can make succession planning feel overwhelming. Identifying these hurdles is the first step towards building a sustainable future! #SuccessionPlanning #CPAIndustry #FutureLeaders #WhitmanTransitionAdvisors

Effective board renewal policies are essential for avoiding the pitfalls of long-serving directors who may resist leaving. By implementing clear guidelines for board turnover, organizations can ensure a steady infusion of new talent and ideas. This approach helps maintain board vitality and strategic agility. Key elements include term limits and structured succession planning to manage transitions smoothly. #BoardRenewal #Innovation #ConLivissianis

With the vision for your family and business established, it’s time to design a concrete succession plan. Here’s how to approach this: 1️⃣ Work backwards: Start with your end goal and map out the steps required to achieve it. Address any immediate challenges and anticipate potential roadblocks that may arise during the transition. Whether it’s leadership readiness, financial stability, or family dynamics, understanding the hurdles ahead will help you create a robust plan. 2️⃣ Consider the three subsystems: Every family business consists of three subsystems—the family, the business, and the owners. Your succession plan needs to support all three and ensure that each is prepared for the change. This involves setting clear responsibilities and roles for each member involved in the transition. 3️⃣ Plan for the long-term: Your business and family will evolve over time. Make sure your succession plan is adaptable to changing circumstances. Incorporate governance structures such as family constitutions, advisory boards, and regular strategic planning sessions to ensure the plan remains effective. In the next post, we’ll cover the importance of taking action and moving your succession plan forward. #successionplanning #businessstrategy #leadershiptransition #familybusiness #strategicplanning #businessgrowth #businessgovernance

Rushing through succession planning? Think again. Slow down, strategize, and succeed. In this NACD article, Suzanne Bates and Sarah Woods dive into the step-by-step approach to succession planning that will ensure long-term organizational prosperity. #StrategyMadePersonal #SuccessionPlanning #LeadershipDevelopment #ExecutiveLeadership #StrategicThinking