Regenerative Leadership Institute

Where Will Your Future Leaders Come From?

Where Will Your Future Leaders Come From? Succession Planning and Leadership Development



In 2008, 78 million baby boomers will retire and they'll be replaced by just 45 million Gen Xers. This was the startling news from Andrea Bortner, Director of Development and Learning at Harris Corporation. This difference has most organizations grappling with how they'll Regenerative Leadership Institute the loss. A survey by the Society of Human Resources Management (SHRM) revealed only 6 % the companies said they are extremely ready to fill a direction are unprepared % opening and 40

. "The #1 obstacle in our business is building the next-generation of leaders. When it's not done correctly, firms fall apart and don't survive," said Jim LaHam, Managing Partner with Berman Hopkins Wright & LaHam, CPAs. LaHam said they use three measures in their planning. First, is the financial consideration for getting out a retiring associate in a way to make sure the profitability for the remaining partners. It has to be a win-win solution.

Secondly, they use a team approach so the clients knows 3-4 staff members so when there is change, the customer is already working with others from the firm and they are not as likely to leave.

The next step is leaders transition to ensure the culture of the firm continues. There would be high turnover using a change to your 'work only' culture," said LaHam.

Additional insight is offered by the hotel business. "When employees are hired, they can be asked what vision they have for themselves and these conversations continue during their annual performance reviews," says Don Breckenridge, GM of the Hilton Melbourne Rialto Place. "Their training matches their aims. For example, someone who would like to become a Director of Food and Beverage would have increased engagement in menu planning, kitchen and restaurant businesses, and leading big and diverse teams, which would be different than the sales and marketing course." Breckenridge's hotel is one of 10 properties possessed by a private investment group, which provides him and his workers more options and places for development and promotional opportunities.

Three years back, Wuesthoff Health System implemented a 12-month, Leadership Institute to develop high potential workers. "The institute focuses on communications, teamwork, planning, innovation, problem solving, development of self and others, implementation, and system thinking. Each one has three levels of instruction to match employee's degree of expertise," describes Jo Ann Byrne, Director of Medical Education, the institute's originator. As the participants work with others from across the business a more cohesive management team is emerging. One recent success was the internal promotion of an employee to head the ICU in their Critical Care Services Division.


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