The MHEDA Journal - Second Quarter, 2015 - (Page 19)

ASK YOUR EXPERT ADVICE BOARD Q "How do you go about identifying and qualifying successors within your company, not only for the owners but also for those in key management positions as well?" Connie Costner, President Mathand Material Handling Systems, Woodstock, GA Scott Hennie, President Elite Supply Chain Solutions, Hudson, OH A This is an on-going conversation at the MHEDA Board Meetings and is identified as a "Critical Impact Factor" for the industry and association. It is important to identify and develop future leaders in our businesses. Too often, it is easy to keep things "Status Quo" when we are experiencing success and growth. When business and economy are contracting, we are focusing on cost management and survival and tend to take our eye off of long-term strategies. Succession and development of team leaders needs to be part of an organization's Mission and Vision. This should be a key component to your Strategic Plan. A couple of key points that we try to focus on: * Develop and maintain a "S.E.A.R.C.H." model for every key position in your organization (Skills, Experience, Attitude, Results, Cognitive Skills, Habits) * Identify potential candidates for every role within your organization * Discuss and understand those candidates' goals and expectations - are they in line with yours? * Create a development plan to provide the candidates the opportunity to develop into the role * Don't assume the person will be successful. If there is not a good fit, identify early and re-direct the candidate's development. * Don't assume that a successful team-member will be a successful leader (Is your best Salesperson going to be a successful Sales Manager?) * Don't be afraid to go outside the organization if the right candidate doesn't exist in your business Jerry Weidmann, President Wisconsin Lift Truck Corp. Brookfield, WI A We have a formal process for succession planning for our entire staff. Our human resources department is responsible to coordinate our succession planning. A list is prepared on an annual basis identifying all employees that are over fiftyfive years of age. Our management team is responsible to plan for the replacement of members of their staff. As an employee approaches retirement age, our managers are expected to identify, with assistance from human resources, the individual or individuals that may replace someone who is planning on retiring. If the retiring individual is an existing staff member working in the department where the vacancy is anticipated, a The MHEDA Journal | Second Quar ter 2 015 19

Table of Contents for the Digital Edition of The MHEDA Journal - Second Quarter, 2015

President’s Perspective
From the Desk of Liz Richards
Editor’s Note
MHEDA University Calendar
Ask Your Board
MHEDA MEMBER PROFILE Cisco-Eagle, Inc. BY STEVE GUGLIELMO
@ WORK Sarah Fiola, Tri Lite, Inc.
INDUSTRY PULSE Second Quarter Projections
GROWTH AS STRATEGY How to strategically plan and execute a growth strategy BY JERRY WEIDMANN
THE BENEFITS AND HAZARDS OF WORKING IN A FAMILY BUSINESS Having it both ways – a successful business and a happy family. BY BUDDY SMITH
Exhibitors’ List and Floor Plan
Exhibitor Summaries
ROCK STARS CREATE UNIQUE EXPERIENCES Enhancing your value proposition BY JIM KNIGHT
WHAT DOES A WINNING SALES STRATEGY LOOK LIKE IN 2015? BY RYAN ESTIS
THE SHIFT: A FORCE OF CHANGE IN THE NEW WORLD OF WORK BY SETH MATTISON
THE SEARCH ENGINE AND SOCIAL MEDIA RELATIONSHIP BY BRIAN BLUFF
New Members
Spotlight on Association News
Index of Advertisers by Product Category

The MHEDA Journal - Second Quarter, 2015

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