Create Next Generation Leaders by Taking Action Today

Planning for the future of your organization involves developing a culture that builds future leaders. In our experience, success comes most easily to organizations who understand why this kind of culture matters, who have a solid plan, and who have the ability to trust their employees.

Most people already view organizations with next-generation leadership plans as being more valuable. Part of what makes these organizations valuable is that they can leverage their growth culture as a competitive hiring advantage to prospective employees.

Once you have a good understanding of why growth culture brings your organization value, it’s time to begin implementing a plan. For starters, don’t leave planning to the last minute—waiting until a week before the current owner leaves is not a good strategy. It is also critical that you have conversations with those in your pool of future leaders to avoid grooming someone with no desire to sit in the chair. Once you have some prospects, develop a plan to enhance their organization, industry, and financial knowledge. It is also mission critical that you invite them to gain hands-on experience by observing your work.

The final piece involves helping the future leaders build trust with the current leadership. One way that you can do this over time is by giving them the authority to make decisions. They will make mistakes and do things differently than you, but as Steve Jobs once said, “It does not make sense to hire smart people and tell them what to do.”

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting, investment, or tax advice or opinion provided by CliftonLarsonAllen LLP (CliftonLarsonAllen) to the reader. For more information, visit CLAconnect.com.