Succession Planning

Proactive Succession Plan

Long-term succession planning is a service offered by Abstone Lalley DeNio, Inc. Our process for developing a proactive succession plan typically involves two phases:

  1. Development of a new strategic plan
  2. Implementation of the succession plan

Succession Planning Process

Our process starts by reviewing the firm’s current strategic plan. Our goal is to analyze the firm’s current position and how it aligns with that plan. Next, we meet with and interview the firm’s leadership to begin the process of developing a new strategic plan that outlines the firm’s 10-year objectives.

ALD, Inc. will develop a firm-wide succession strategy focusing on a myriad of key factors, including:

  • Identification of potential succession candidates
  • Program development for leadership transitions and attorneys wishing to phase down
  • Evaluation of the firm’s current compensation system and how it impacts a succession plan
  • Discussion of client relationships and potential transitions
  • Crisis planning to produce short-term solutions to address unforeseen events, such as economic downturns or health issues that could impact the firm during the development and implementation of the succession plan

Succession Plan Implementation

After developing the succession plan, ALD, Inc. will also help with the implementation of the new plan if the client chooses. Full implementation of a succession plan can take anywhere from 12-36 months. This process could include testing the plan in real-time, assisting with the integration of the plan into the firm’s hiring efforts, and establishing training programs and professional development for new leaders.

This consulting service is provided by ALD, Inc. on a retained and/or hourly basis.