The insight and the common understanding, to hand over the management and the equity of the company to younger persons, is only the first step of a long journey in generation change.
Among the further points the elder generation has to check and to implement are:
- Hand over the tasks and the responsibility in the company and find new ones elsewhere
- Financial change of own income and company’s equity
- New positioning in society / Self-definition elsewise than via the company
- Tasks will be addressed differently (less routine)
- New/old ideas are implemented
The younger generation should care about:
- Find his/her own way, own routine to handle different subjects
- Finance the ownership in the company with sufficient financial freedom in private/family life
- Acceptance by employees
- Implementation of new projects in contradiction to or deviation from old strategy or old way of doing
The communication between the generation and the playing to preset rules are important. When the preagreed rules are to narrow or don’t suit anymore, they should be adopted in a new agreement of both generations. Maegerlein Consult as a moderator or sparring partner supports you – the elder as well as the younger generation – in this dynamic process.