Retirement Onboarding and Ownership Transitions

The onboarding and integration of a new team member is something contractors should rigorously manage.

D. Brown Management Profile Picture
Share

The best contractors do this as one of the 9 critical talent processes. What we don’t always pay as close attention to is what Sue Weiler-Doke frames as “Retirement Onboarding.”

Succession: Retirement Onboarding and Ownership Transitions. Comparing Individual and Business goals.

This is critical for all key technical and executive roles as people retire. Due to the demographics in the United States, we will have a huge deficit of experienced talent over the next ten years.

Retirement Onboarding is even more critical during ownership transitions because often, the current owner has had nearly their whole life -- 20 to 40-plus years -- wrapped-up in the business. Many of the best business operators have given relatively little thought to their personal retirement.  

With decades in their roles, they are typically involved in many areas of the business and their retirement will create unforseen knowledge gaps. 

Retirement Onboarding must be approached with the same rigor as the rest of the retirement process and should follow similar phases. 

An experienced advisor can help owners effectively navigate their own path as well as help the company create Retirement Onboarding processes for other critical roles, ensuring sustainability.


Succession
Continue building value in your business, yourself and your key team members with a good succession strategy....

Succession
Continue building value in your business, yourself and your key team members with a good succession strategy....

Problem-Resolution Cost Pyramid - Earlier is Always Better
An easy way to visualize the cost of problem resolution at different stages of construction is with this pyramid. The cost of the problem is the cost of the problem (1X). Finding it ahead of time minimizes the costs and maximizes customer satisfaction.
Managing Dependencies and Grow Profitably
As projects and contractors grow in complexity it becomes increasingly more difficult to manage all the dependencies between tasks.
Can't Read the Label From Inside the Jar
By definition it is impossible for any of us to know what we don’t know. Who are the top 5 people inside your organization that help each other refine your models of projects, your company and the industry?