Developing leaders doesn’t just happen – you need a plan

The American workplace now has four generations – a rare moment in our nation’s history.

The American workplace now has four generations – a rare moment in our nation’s history.

These generations span the millennials, just now going to work, to the baby boomers, those born from about 1946-1964 – many of whom are preparing for retirement.

Many businesses face the prospect of a large number of baby boomers retiring, and, with that, a large number of senior leaders going with them.

What is a business leader or human resources professional to do? How can you replace them?

Replacing leaders generally occurs in two ways, from outside the organization or building future leaders from within.

You can recruit and hire from outside. Many organizations do this, hiring talent from other companies in the same field or even from outside the field.

This can be good because these people often bring in new ideas and perspectives.

But it also often causes strife from longtime veterans of the company. Plus, sometimes there are not enough people from outside to fill the empty positions.

A better solution may be to build talent from the bench of existing people in your organization and then foster and nurture that talent. This is called building a talent pipeline.

Developing a pipeline makes great sense for a variety of reasons, especially because people in your organization already are known by their peers. They also understand the company vision and generally share the same goals as the organization.

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2019 Health Care Symposium

Thursday, August 01, 2019
2019 Health Care Symposium

2019 CFO of the Year Awards

Wednesday, September 11, 2019
2019 CFO of the Year Awards

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Wednesday, September 25, 2019
HR Symposium

2019 Fastest Growing Companies Awards

Wednesday, October 23, 2019
2019 Fastest Growing Companies Awards