Much is written about succession planning. But what happens when the family CEO dies in the saddle with no identified successor? Here is a case of a $90 million founder-managed business that went through this unfortunate situation, how it ultimately resolved and some lessons learned.
I wanted to share the link below of the NYSE closing bell ceremony I participated in on January 17, 2018 with the CEO, senior executives and Board of Directors for Provident Bank acknowledging the 15th anniversary of Provident Bank’s listing on the exchange. I enjoy serving on the board of this 179 year old financial services institution which was recently recognized as one of Forbes‘ Best Banks in America and named Money’s Best Bank in NJ.
The Forbes list of “Best Recruiting Firms of 2017” is out and Battalia Winston is, once again, prominently featured. So what sets these firms apart and what makes them worthy of this recognition?
All of the recruiting firms named share certain qualities and attributes that make them best in class. Check out their websites and you will find that all claim to have a history of understanding the changing needs and opportunities of their clients and all believe that they best recognize the challenges not only of the client but of the current market. Each firm presents its history of sourcing the “right” candidates to lead a client successfully into the future. All describe themselves as “distinctive” or “differentiated” or best understanding “the science of executive recruiting”. All of this must be true or why would they be selected by an organization as distinguished as Forbes?
Larger firms get on this type of list because of volume and market coverage. Smaller, more boutique firms, make the “Best Recruiting Firms” list because of the mutual loyalty shared between the clients and the firm.
So what makes Battalia Winston stand out in the industry and in this crowd?
- Over 50 years of experience working with clients in multiple sectors, many of which are not the focus of larger firms, including non-profit and family businesses.
- A tenured team of Partners who directly manage their searches and personally screen every candidate presented to their client.
- Due to the care with which clients are selected, “off limits” issues are kept to a minimum.
- Use of a Consensus-Based Search process that eliminates potential roadblocks to the search effort, establishes clear expectations for all parties along with agreed-upon timelines and assures a smooth transition.
These elements have contributed to our longevity and success. Notably, 85% of our searches are either a repeat client or one referred by a past or present client. This is a result of developing deep partnerships and long-lasting relationships.