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Governance & Succession Status Check

Professional Practices – Governance & Succession Status Check

Change is a constant in any long-term professional practice. Pro-active, long term succession planning is characteristic of professional firms which survive – and thrive – for generations.
These 10 questions will help you think about your succession readiness.
  1. Have you recently reviewed your firm’s governance and organization structure to ensure it is meeting the needs of a growing professional firm in a rapidly changing and more competitive environment?

  2. Have you clarified the roles and responsibilities of the key people in your firm - partners, associates, governing bodies and management or executive committees?

  3. How will you choose the right leaders for the firm - those responsible for governing, strategy-and-oversight leaders, and the executive management leaders?

  4. What is best decision-making process for your firm - one that is informed, transparent, timely and not bogged down?

  5. Do you have an effective strategic planning process to produce a business roadmap that distinguishes your firm and guides it toward continued growth and success?

  6. Do you have a client strategy that acknowledges key clients, and that encourages client cross-sharing and the orderly transition of clients by retiring partners?

  7. Do you have a healthy firm culture where there is sense of team unity, a respectful way to manage conflict, and where people like to come to work?

  8. Do you define and measure performance and success for the firm and its people in a way that continues to attract top talent and operates successfully in the marketplace?

  9. Do you have a well-designed succession plan that respects outgoing partners while ensuring talent development and business continuity?

  10. Do you have a communications system that sends consistent and positive messages throughout the firm and invites feedback?

Board Dynamics will work with you to build a succession plan that ensures orderly transition, client retention and business continuity.

Board Dynamics can sit down with you, talk about your situation and discuss how we could help. Give us a call or drop us a line today