Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
Some feel leaders are born, not made. Others believe leadership is more of an exact science, with measurable abilities and attitudes that can be taught.
Natural or not, all leadership talent requires and deserves cultivation. As a manager, you may be able to immediately single out and begin grooming certain individuals who already show particular promise, but you never know where you’ll find your next strong leaders.
That’s why it’s essential to establish a culture throughout your workplace that encourages nascent talent to develop and flourish.
Companywide leadership development efforts are especially critical considering that few managers are themselves grooming potential replacements in the event they retire or move on to another firm.
The vast majority (83 percent) of financial executives interviewed in a recent Robert Half survey said they have not identified a successor for their position. Of those, 81 percent said their primary reason for not doing so was that they have no plans to leave their present companies in the near future.
This could be a big mistake. Having to scramble at the last minute to find replacements for principal managers can disrupt a business’s service continuity and jeopardize long-established relationships with key constituents.
Here are some steps you can take in your organization to build leadership skills among employees at all levels:
Motivate promising performers by providing – and continually reinforcing – a culture of never-ending opportunity. Emphasize your support for intellectual and career growth by offering challenging assignments with increasing responsibility. And through a policy of open communication and active listening, make staff aware that their opinions count and their innovative ideas can make a difference.
Your personal interest shows them their hard work is not going unnoticed and superior achievements can directly influence their future at the firm. Instilling this sense of ownership and pride in the business is a superb way to nurture dedicated leaders.
If you are serious about developing effective leaders, you’ll need to give employees the latitude to practice what they’re learning and take smart risks. Let them know you understand this means they will also sometimes make mistakes. People who are constantly afraid of making an error will never have what it takes to help others pursue the firm’s loftiest goals.
A supportive work environment that is consistent with your formal training activities is essential not only in creating new leaders, but also in keeping the ones you have. This should be a goal even in a still-recovering economy. First-rate professionals are always in demand, especially as conditions improve.
Another important way you can enhance leadership qualities in your organization is by pairing employees individually with more experienced managers. A mentoring program can assist valued staff members in learning what it takes to lead others.
While group training and enlightened management policies can do much to inspire talented people, having someone regularly explain the nuances of company operations and address their concerns is an invaluable benefit.
Mentoring offers a view of the organization that is simply not available elsewhere. It can be the best way to give people a glimpse into the corporate culture and generate a feeling of belonging. Whether as part of a formal or informal program, mentoring allows staff to round out their technical and interpersonal skills.
Individual mentors may not be practical for everyone in the organization, but mentoring is an excellent way to offer special attention to those you’ve identified as most promising. Managers serving in this capacity should be encouraged to share their personal strategies for success, including time and staff management techniques.
When possible, they should try to include their mentees in high-level meetings and discussions to help them observe first-hand the organization’s management style and how it tackles challenges.
Remember that employees at any job level or point in their careers can show promise and demonstrate the capacity to lead. Perhaps there is a junior sales assistant who, unprompted, has performed timely research that has helped bring in more customers. Or maybe you’ve noticed a few professionals who repeatedly come up with creative recommendations during staff meetings and are able to consistently rally coworkers around their ideas.
Continue to observe these individuals and how they interact with a variety of people, especially in stressful situations. Are they tactful and diplomatic? Are they cool-headed as they deal with problems and do they transmit this in-control demeanor to colleagues? How resourceful are they and do they make good decisions?
These are just a few of the qualities of people who are able to influence others positively. The more such traits you can identify early – even in job candidates – the wider your pool of potential leadership talent.
Be sure to recognize and, when possible, reward team members when they demonstrate any of the characteristics of good leaders. Publicly acknowledging their achievements encourages them to further develop such skills. And communicating the importance you place on their behavior shows other employees it is worthy of emulation.
When firms offer employees throughout the organization a chance to develop their leadership skills, they are investing in the future of the company. Managers with a keen eye for budding talent can identify high-potential staff and groom them for increasingly complex roles, creating home-grown leaders.
