What is your organization doing to grow younger professionals into leaders of the future? If your firm doesn’t have an initiative to accomplish this, it’s in your best interests to create one. Many reasons support this, but for now, let’s focus on two: succession planning and retention.
Succession planning: As companies grows and become more complex, succession planning becomes increasingly important. Even if the leaders who nurtured the company to its current level are still intact, some day they won’t be. Each department should plan for succession. If you don’t have internal candidates, it’s worthwhile to identify the characteristics of who will be appropriate as successor.