We’re in a time when succession planning has never been more important as the baby boom generation is replaced by millennials as the largest cohort in the workplace. So, the transition is on.
But how do you develop new talent while still holding on to the wisdom and experience of the previous generation? Even more challenging is not just preserving it, but transferring that asset of knowledge from one group to another.
One tool that has proved to be extremely effective is developing a Future Leaders Group. They can be handpicked from a younger demographic cohort or simply self-identify as ambitious individuals who want to play an increasingly important role. What’s most important is creating a space where they can learn, interact and offer ideas.
They have different takes on the issues of the day and, given that they are part of the growing majority, will have less difficulty understanding what will work and what won’t.
Ultimately, the most critical element in ensuring you have high quality talent in your organization tomorrow is making room for them at the leadership table today.