Succession planning is an important and potentially complicated process that can seem daunting for construction company owners, their families and their colleagues and employees. But with appropriate foresight, strategic planning and execution, construction owners can position themselves for a strong financial situation in retirement, while also maximizing the future of their organizations and their legacies.
We sat down with Mike Africk, Principal of CliftonLarsonAllen’s Oak Brook, Illinois operation, and Emily Gunther, Principal of CLA’s Philadelphia office, both of whom have decades of experience in succession planning for construction companies, to talk-through the five most important tips for approaching the succession planning process, no matter what point you’re at in your career.
1. It’s Never Too Early to Start