All too often we engage with companies who realise their boardroom will be retiring in the next 3 to 5 years and there is no robust succession plan in place. At this point, the only option is to recruit externally, but how can you avoid this and ensure you have talent internally who can step up?
Here are some good ideas around the key qualities you should be evaluating when recruiting your future leaders from the millennial talent pool. Supported with a well thought out coaching and mentoring plan, securing some young but exciting raw ingredients (millennials) for your business will ensure you have options when succession planning.
As the war for talent becomes more competitive, with this year's crop of new graduates entering the workforce, recruiters are faced with an exciting new challenge -- how to establish the future of their companies. Certainly, it’s scary to imagine a future without strong leaders. In fact, that is a major concern for many companies. The 2015 Business Human Capital Challenges report from the Society of Human Resource Management found that one of the top concerns among HR and business leaders was developing the next generation of leaders. This wouldn’t be a problem were leadership qualities bountiful and simple to find, but reality paints a different picture. The Workplace Trends’ Global Workforce Leadership survey in February and March revealed that respondents regarded leadership as the hardest skill to find in employees.