Have you noticed while baking, if you remove key binding ingredients, it takes a while for the batter to pool together again? The same is true if you remove key starters from a basketball, football or baseball team: the team needs time to readjust and gel before winning games.

What happens when top leadership in a business is starting to face mandatory retirement? Or, if not mandatory, a visible slowing down until they finally pull away? Are you ready for that?

That sports team is your organization. The right players to fill in those crucial voids are your people and the game plan is the strategy that allows your organization to continue to thrive. The time to evaluate and think about succession strategy is now. Do you have those rookies with potential, or seasoned athletes who are still strong players? And, if so, how do you keep them from being traded? Knowing the country is at full employment, and opportunities come knocking, how do you keep them loyal and poised to play?

Residing at the head-of-the-table chair now as Senior Partner, Managing Director, or Managing Partner, you’ve probably thought about the next generation of leadership and plan. You know there should be guidelines, a mission and vision to create a roadmap to move forward. Your organization might even have an organizational handbook. Furthermore, beyond words, ideas and strategy – there’s the people. The people make the strategy come to life.

Here are some questions to consider: beyond the idea of having the next tier ready for the ultimate leadership, if those people are actually in the organization now? Do you have the necessary rookies and seasoned athletes? How are you going to hold onto them between now and then? What about their direct reports? Are those people in place so that the work can continue and grow?

Do you have the Millennial talent, who you’ve decided to invest in, develop and nurture so they’ll stay? Millennials by 2020 will be 50% of the workforce. For the business to survive, Millennials have to be part of the conversation now. Your competition will either be thinking the same way or they will miss out on maximizing their share of the market that you will capture instead because you are prepared for this market shift.

If this impending transitioning seems overwhelming, because change can be scary, think seriously about investing in creating a strong community within the company now. If you haven’t already, start recognizing and working at keeping your young talent happy, feeling useful, and feeling they have a voice in the way things are being done and will be done. They will continue your legacy.

 

If you are thinking that developing young talent is important but are too busy to make a plan – let alone put it into action, I’ll work with you to get it done. If scheduling a one-time workshop is your answer to leadership training but your young talent is still showing signs of frustration, a workshop is not the answer. Developing emerging leadership is my life’s mission. Let’s work on supporting emerging talent and retaining them together. Contact me at Susan@SusanGoldbergLeadership.com