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.


Retirement Onboarding and Ownership Transitions
Continue building value in your business, yourself and your key team members with a good succession strategy....

Retirement Onboarding and Ownership Transitions
Continue building value in your business, yourself and your key team members with a good succession strategy....

Four Steps to Sustainable Growth (10+10=0)
Growing contractors face an overwhelming number of problems and opportunities as they move through the different stages of growth. Prioritizing these, aligning the team, then executing becomes progressively more difficult and important.
Construction Benchmarks, Trends, Forecasts, and Predictions
Two of the most highly leveraged choices that leaders of contractors make are about market strategy and major resource allocations. Robust information systems about the external market are a critical part of this decision-making process.
No Answers?
A handful of quick tips to help you get the answers you need. This is a critical skillset for building projects, growing a contracting business, and developing careers.