I have seen transitions of power and position go extraordinarily well – I have seen others fail. Here is one of the greatest differences between the two…
Companies that do well, hire people who care about and are clear about culture. Companies that fail, hire someone and barely ask about culture. Someone who either doesn’t understand the importance of a company culture, or doesn’t care. If you have a CEO who has empathy, care, integrity, is a people person, encourages a family like environment, and then you have the new CEO who walks in arrogant and icy – what do you think will happen? Or you have one generation of a family running a company with integrity, confidence, and care for people – only to have the next generation walk-in and have zero understanding of why it is important. FAILURE.
As one CEO or C-Suite position leaves, it is VITAL that they ensure culture is discussed. A new administration will potentially change things, be more efficient, run leaner – GOOD – BUT, you don’t have to make changes rudely, without care, empathy or communication to your company. Some basics can’t be ignored.
If you are getting ready to go, retire, pass the family company on, or be a part of hiring your replacement – CULTURE IS KEY. Core values are KEY. They all need to be discussed at length.
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