Unemployment is at an ALL TIME LOW.
If you're trying to build out your business, you need LEADERS.
The war for talent is on, it's hard enough to get qualified candidates, who are looking to jump ship.
What's the answer?
Foster growth from within.
It's not easy and it takes a defined, mapped out strategy, but fostering internal candidates for leadership opportunities will help make the growth and succession of your business through qualified leadership secure and scalable.
Keep these things in mind when fostering internal growth.
1 - Everyone has potential.
Don't play favourites. Open up the opportunity for growth to your entire organization. Someone may surprise you.
2 - Be intentional.
This is not ad hoc coaching (although that is also important). Have a plan in place that's repeatable in order to maximize its' efficacy.
3 - Immersive leadership.
Leadership isn't just theoretical, let people go outside their lane, take on tasks that they would take on if they were to be promoted, let them make mistakes while the stakes are low.
4 - Don't encourage dependance.
Mentorship and leadership coaching does not mean you're answering all their questions. Still encourage a problem solving mindset.
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