Promoting employees from within your ranks to leadership positions has so many benefits. According to a Forbes study of America’s largest companies, 86% of their CEOs were hired from within. The ability to develop future leaders from within the organization is not something that has to be reserved only for large companies. Small companies can also have a huge competitive advantage when they follow practices. A recent article from Forbes gives some ways that all businesses can grow future leaders.
Empower employees through mentorship and delegation: This can be especially important in smaller businesses where there may not be a lot of leadership positions available. Give great employees who want and need this type of challenge an opportunity to head up a committee or act as a trainer for new employees. Also, allow these employees to learn from the leadership at your organization through mentorship programs. Encourage your leaders to get employees who show leadership potential involved in problem-solving and decision-making.
Avoid the bait and switch: If your company emphasizes the importance of promoting from within when hiring employees, don’t lose confidence in the employees you are grooming and then hire someone from the outside. This will cause employees to lose trust in your development program. The opportunity for employees to grow in their career is important to employee engagement and satisfaction.
Be patient: Building your leadership team from within will take some time. If you are searching for a someone to fill a leadership or management position in your organization today, and you haven’t already done many of the things above, you may have to look outside. Not everyone will develop into a leader at the same pace. In fact, you may see the potential long before the employee expresses the desire to move into leadership and that is ok. Start today and keep your eye on the long-term gain for organization.
Are you looking for cost-effective ways to build the future leaders of your organization from within your employee team? A Plus benefits has great training resources. Contact Elizabeth Burt today to learn more at email@example.com or 1-800-748-5102.