CAI-NJ April 2020(w)

You’re Not Getting Any Younger! By Gabe Vitale, Jr. C & L Sweeper and Pavement Maintenance

Hint: It’s not easy to do!! H o w d o y o u t r a n s i t i o n e x e c u t i v e p o s i t i o n s a t y o u r c o m p a n y t o t h e n e x t g e n e r a t i o n ?

Rawpixel/ iStock / Getty Images Plus and exxorian/ DigitalVision Vectors

P assing the torch may be one of the most challenging things an owner or key employee has to do in their career. You do things a certain way, at a specific time, with a certain tone, and through a particular program, and you believe those are the only ways to do it. There is no way to perform the job any other way, but “MY way.” The thought of someone “younger” with less experience doing your job as well as you cannot be possible…it is! And there are ways to ensure the transition goes smoothly. The impact of poorly planned and executed transitions can have severe consequences. Results include: chaos,

loss of motivation, poor morale, high turnover, no direction, reduced creativity, and even business failure. Being a third-generation owner, I can say from personal experience how important it is to embrace the next generation of your company and begin to prepare that inevitable transi- tion of the established generation to the younger generation. Building Confidence: It is essential during a leadership change that the current executive creates a road map, not only for the incoming lead- er, but for the entire team being affected by the change. A CONT I NU E S ON PAGE 34

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