Everyday more corporate leaders are retiring. In fact, the U.S. is facing the retirement of 33 million baby boomers by 2020, leaving a rather large and potentially threatening leadership gap for businesses to fill. The process of filling the leadership gap will not accommodate the time commitment needed for training the next generation of leaders. Additional studies show that only 11% of employees are interested in pursuing C-level leadership positions critical to the success of an organization.
With these tough challenges, companies may need to take a “bamboo” approach to training. Bamboo is one of the fastest growing plants in the world but only after it takes time to develop a robust root system. This system protects and supports the plant’s longevity, heartiness, and strength. The bamboo becomes tough to uproot and the plant’s growth becomes explosive.
Companies can be like bamboo and develop a root system that will support them well into the future.Start by considering who the future leaders could be in your company. Who would shoot to higher levels of leadership with the right mentoring and training? Next, gather input throughout your organization, sister companies and trusted partners on the type, style, and execution of the training most relevant. Getting feedback lays the ground work to give a leadership training program that extra boost it needs to be successful. Consider how you might leverage mobile tools, personalization, and the ability to be flexible to help meet the user experience preferred by Millennials to drive engagement and follow through.
Once you have areas of growth identified, consider leveraging subject matter experts from in and outside of the organization to develop and deliver training materials. Keep the lines of feedback flowing and adapt as needed. Through this and other exploratory training and continued learning, your company can begin to tend to its next generation of leaders and grow them to become wonderful assets.
Most importantly, start your transition planning now. On an individual basis, consider how you can stretch your own mentoring skills and seek to teach potential prodigies to lead your organization in its next pursuits. Support them in growing deep strong roots as leaders in your company. If you’re a Millennial and are inspired to lead, seek out a mentor to help you identify your areas of strength and opportunities for growth.
Is your company ready to start a training program targeted to the future leaders in your organization? BBD is here to support you in understanding and executing training and coaching to help your business bridge the leadership gap.