Issues dealing with employee retention and leadership development will top the list in 2008 and beyond. What will separate your organization is how your business structures its leadership succession program.
Many businesses fail to have a formal succession plan. If yours is one of these, don't fret, there's still time to develop a strategy for sustainability. There are seven steps you can take to build a basic strategy for your succession program for your organization.
Step 1: Bring the vision to life
In order to grow leaders in your organization, they must first buy into the vision of its future. This includes seeing how they fit into its future. Second, they should be energized by this vision. Leaders fail to create an experiential environment that allows employees to get fully engaged with the organization's mission and vision.
Step 2: Develop entrepreneurial and intrapreneurial mindsets
The spirit that founded the organization must live on in future leaders. Teaching calculated risk taking and timely decision making coupled with creativity are invaluable to the growth of any organization.
Step 3: Invest in leadership education and training
Unfortunately the first line item senior leaders cut are training and education. Why? It's the one tool that will help drive your business out of the rut that it might currently be experiencing. This demonstrates, to a potential leader candidate, management's level of commitment to them and the sustainability of the organization.
Step 4: Offer multiple styles of learning
Human behavior is overlooked in organizations. Leaders get caught up in daily operations and neglect to remember that employees learn differently. Offering a variety of methods for learning allows creative stimulation and affords learners the ability to engage in the learning process in a variety of ways.
Step 5: Develop a bench of potential successor candidates
Strategically, this is critical to your plan. Start with hiring; can your potential new hire fill more than one leadership position in your organization? If not, what training and/or education do they need to get their.
Step 6: Match skill development with business need
Ensure that the training and education provided to the candidate is both specific to the intended growth position, and also broad enough to value any other section of your organization should you rotate them through various leadership positions.
Step 7: Provide coaching and mentoring (internal and external)
Establish an internal mentor program if possible and if not, offering external coaching makes a great benefit to add value to a rising talent in your organization.
Get your free eBook download of The Soldier's Method: Leadership Tactics for Business by visiting http://www.thatvalueguy.com . Wesley Ford is known as That Value Guy. He is a speaker and consultant who helps businesses and organizations develop values based leaders and get employees to retain you.