Articles note that Millennials want to be appreciated, to be challenged to reach their potentials, and to have explicit career paths. Future leaders of any age want those same things! At the same time, top managers at many companies are wondering to whom they will pass the leadership torch.
We’re working with clients’ middle, upper and executive management to build leadership bench strength. Here, in a nutshell, here is how these management development programs are structured:
- Determine what the roles of the future need to be (a 3-5-year Strategic Plan helps here).
- Identify what behaviors, skills and competencies are necessary for those roles.
- Assess the future leaders—based on performance, results and drive.
- Develop, train and coach those future stars, so that they have the necessary qualifications to lead the organization in a few years.
- Work with this new group as a team, so they learn how to work together– before they even have to!
Senior Management is getting more comfortable with—and actually likes— the idea of a leadership succession plan. The “Leaders of 2025” are excited about learning and growing. The rest of the company is thrilled—and maybe relieved—to know there’s a plan for company longevity. The result of all of this is a mutually beneficial combination of high engagement, high retention and high confidence in the future.