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Crafting a Succession Plan

I want to welcome Jess Saylor, president of the Architectural Contractors Trade Association, aboard as the new chairman of AWCI’s EIFS & Related Products Committee. Additionally, Cassie Allen, presently a member of AWCI’s Hospitality Committee, has filled the vacancy for the chairwoman position on that committee, and I thank her for accepting this role.

The inspiration for this article was derived from my conversation with Ken Navratil, who held the chairman position on the Carpenters’ Craft Committee. I would like to thank Ken for willingly handing the reigns over to Gregg Brady and offering guidance in the transition. Gregg is the president of the Northern California Drywall Contractors Association, and I appreciate him for taking on the new challenges.

As business people we all have to contend with a succession plan. Succession planning is the process of deciding how and when management, ownership and/or those in control of a business will transfer that control to subsequent owners. It is generally considered to be a strategy of workforce planning. A good succession plan is critical to continue accomplishments built. By crafting a thoughtful, strategic approach, a company fully addresses its responsibilities and sets the company’s new leader on a firm course to success.

As you consider educating yourself on succession planning, be sure to consider the key points that will benefit you the most. If you decide to embark on engaging yourself in various companies, make sure you know the important questions that should be asked.

There are many young men and women coming into the AWCI. The association is organizing seminars for mentoring and tutoring on succession planning. Those seminars should have a very positive impact and create a strong foundation of knowledge on the subject. The seminars will focus on the transition between family members and provide the basic knowledge and ideas for any succession plan.

Handing the baton over to the next generation of family members may sometimes feel like a bat to the head. However, if both parties are committed and loyal to each other as well as the company, that blow doesn’t have to feel like a slow, torturous death. The success of the company will continue. So, although there are challenges along the way, having a well thought out succession plan is essential to achieving your companies’ goals.

In addition to being the 2009–2010 president of the Association of the Wall and Ceiling Industry, Weber is president of Island Acoustics LLC in Bohemia, N.Y.

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