A FAmily company required assistance in aligning the vision and communication among the president and the vice president & successor

The Challenge:

• The Vice President was the daughter of the President and Founder of the business. While they agreed that she would be the successor, they had not clarified timing or expectations around the succession plan details.
• The Vice President saw timely opportunities to grow the business and was frustrated with the lack of alignment with her father.
• As the Vice President looked to the future, she was concerned that she did not have the “right people on the bus” of her leadership team, and she envisioned a different culture than had been in place for years but didn’t know where to begin.

Solution:

• The Coach scheduled an exploratory meeting with the Vice President to fully understand her perspective and goals.
  
• A formal proposal was drafted, and the Coach was engaged to proceed with a 6-month one-on-one Coaching program with the Vice President to serve as a thinking partner while she clarified her needs and designed a path forward.
  
• The Coach also had a conversation with the current President to hear his thoughts about the legacy he hoped to leave with his daughter and the business and understand his expectations for the future.
  
• Multiple assessment instruments were administered with the intention of creating self-awareness about her core strengths, leadership, and communication style.  The Coach helped to bridge her new perspective into a practical action plan.

The Value of the Coaching Process:

• Communication between the VP and President improved dramatically.  Through increased self-awareness and confidence, she was more transparent in sharing her vision with her father and in turn, he was more open about what was important to him.  Maintaining a positive relationship was as important to both of them as continued business success.
  
• Expectations were clarified and a detailed succession plan was developed including the timing of the President’s retirement and an agreement for his limited consulting role.
  
• The VP identified the gaps on her leadership team and began the recruitment process, keeping in mind the key cultural elements she wanted to foster.

Professional Coaching is an ideal way to help prepare key members of your team to drive your organization forward.  The Professional Coaches at Lauber Business Partners are well equipped to serve as trusted partners and catalysts to help drive this dynamic process.  Coaching is an effective strategy for increasing productivity, morale, job satisfaction and retention.  Investing in the development of your human capital fosters a culture of growth and development and positions your organization to attract and engage top talent. For more information please contact us at [email protected] or 414-273-8060.