In order to ensure a smooth transition when an organization's leaders retire, it is important to identify and groom potential new leaders, according to Forbes.
Listed below are 10 vital pieces of advice for cultivating your organization's future leaders, as presented by Forbes.
1. Develop a buy-and-build strategy. Identify the needs you can address by buying short-term talent and the areas you can improve by grooming long-term leaders.
2. Train senior leaders to coach and mentor younger employees. Many senior employees want to help create a succession plan but don't know how to go about it.
3. Encourage collaboration across generations through formal mentoring programs and skill-based volunteer opportunities.
4. Design well-thought-out mentoring programs. Curate focused discussions that maximize the time experienced leaders spend with high-potential employees.
5. Make sure your leadership programs are multi-tiered so you engage everyone from younger C-suite leaders to new hires.
6. Identify the skills you need so you can most effectively develop leaders who address those needs.
7. Create a respectful succession plan so older leaders do not feel forced out.
8. Find new motivating techniques for young employees who may expect different benefits than their older predecessors.
9. Offer tuition assistance or stand-alone courses for employees who want to learn about managerial techniques in a more formal setting.
10. Remember to delegate and give your employees the opportunity to demonstrate their skills.
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