Building a strong line of succession takes advanced planning on the part of management. Recognizing unique skillsets and attributes your employees have can help empower them in their positions, leading to smoother transitions and promotions in the future.
We recommend frequently evaluating staff on several factors, including but not limited to:
Analyzing these areas, among others, ensures you’re hiring (and retaining) those with future leadership potential.
What else can you do now to cultivate strong leadership for the future? Here are four ways to build and strengthen your leadership pipeline.
Enhance Mentorship Programs
Providing ample opportunities for coaching and mentorship is essential to the success of future company leadership. With up to 74 percent of US leaders reporting feeling unprepared at the start of their position, access to support, education, and guidance must be laid out and adhered to. Having trusted confidants evaluate leadership and decision-making will only strengthen corporate roles. Prioritize strong mentor relationships to boost morale, something new leaders can benefit from when adjusting to a new senior position.
Allow Room For Mistakes
We understand the temptation to step in and manage tricky situations when the actions of others directly impact your own sales and performance. But allowing space for errors (and the lessons they teach) are better learned in a supporting role. This means providing the necessary tools and learning platforms to enhance their skills, plus dedicated time from company leaders for education and mentorship.
Make this a priority among all department levels to diversify your leadership pool and send positive messaging about room for growth.
Set Performance Metrics
Concrete, identifiable data is one of the best tools to identify strong leaders among departments. These goals, when clearly defined and outlined, provide specific parameters to help employees achieve growth. Give feedback in real-time (or as soon as possible) to hone in on strengths and weaknesses, opening the pathways for collaborative discussion.
Peter Marc, management consultant and business visionary, says, “If you can’t measure it, you can’t manage it.” Set tangible metrics for employees to drive progress in multi-faceted areas.
Promote A Positive Working Environment
Your goal should remain to make the best talent want to work for (and stay with) your company. While obvious, it bears mentioning that motivated employees are 87% less likely to resign. Seize opportunities to give positive reinforcement frequently; not just when big milestones are achieved. This kind of rapport helps strengthen working relationships amidst daily struggles. A tone of acceptance and humility allows for more open and honest dialogue.
A strong leadership program isn’t just a handbook to be managed by an HR department. It should be reflective of the core values and culture within the organization. The more knowledge that’s shared freely among the company, the greater success there is to be earned.
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