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Business Exit Planning Strategies
Whether you're preparing for a transition, stepping into a leadership role, or seeking sustainable growth, we're dedicated to helping you find the ideal leadership team, we're committed to helping you find the talent that will drive your business to new heights.
Here are the seven stage strategies of the Owner Exit service with headlines, brief descriptions of deliverables, and the rationale for each stage.
Month One
1. Succession Planning
Deliverables:
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Comprehensive assessment of business needs and goals.
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Development of a strategic hiring plan tailored to the business’s future and exit.
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Identification of critical leadership roles required for a smooth transition.
Why:
Succession planning ensures the business can continue thriving without the owner. It defines the future direction and identifies the key positions that need to be filled to maintain business continuity.
Month Two
2. Hiring Plan
Development
Deliverables:
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Creation of detailed job specifications for the new leadership roles.
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Design of a talent scorecard
to assess potential candidates. -
Development of the hiring
process and timeline aligned with the owner’s exit strategy.
Why:
A well-structured hiring plan ensures that the right individuals are selected to take over key roles. By focusing on specific job requirements and timelines, the plan mitigates the risk of hiring unsuitable candidates.
Months Three & Four
3. Strategic
Sourcing
Deliverables:
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Utilisation of extensive search processes to generate a robust candidate pool.
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Leveraging both internal and external recruitment channels.
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Cultural and aspirational alignment checks to ensure long-term fit.
Why:
Strategic sourcing expands the candidate pool and ensures that only those who are a cultural and strategic fit for the business are considered, increasing the likelihood of finding the right successor.
Month Five
4. In-depth Shortlist
Assessment
Deliverables:
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Implementation of a multi-stage interview process, including behavioural and competency based assessments.
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Psychometric testing and
compatibility reports for deeper insights. -
Involvement of key stakeholders in the final interview stages.
Why:
A thorough interviewing process, supported by data-driven tools, reduces the chance of a bad hire. It ensures that candidates are not only qualified but also align with the company’s values and culture.
Months Six & Seven
6. Securing the Hire
Deliverables:
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Final selection of candidates based on comprehensive assessments.
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Negotiation and finalisation of offer and employment contract.
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Establishment of pre-hiring agreements to outline expectations and responsibilities.
Why:
Making the right hiring decisions is crucial for the business’s long-term success. Clear agreements and well-defined roles help set the stage for a smooth transition and clear expectations.
Month Eight
6. Onboarding
& Integration
Deliverables:
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Design and implementation
of a tailored onboarding program. -
Integration coaching to support the new hire during the transition.
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Monitoring and feedback mechanisms to ensure successful adaptation.
Why:
Effective onboarding accelerates the new hire’s productivity and ensures they integrate smoothly into the business. It reduces turnover risk and helps the new leader quickly contribute to the
business’s success.
Month Nine
7. Leadership
Coaching
Deliverables:
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Ongoing leadership coaching to develop the new hire’s capabilities.
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Regular progress reviews
and adjustment of strategies as needed. -
Succession follow-up to ensure the long-term success of the transition.
Why:
Continuous leadership development ensures that the new hire grows into their role and can lead the business effectively. It also supports long-term stability and growth, safeguarding the owner’s legacy.