Rita McGrath, Professor at Columbia Business School in New York, writes in her blog about preparing for the upswing as the economy shows signs of turnaround. Read the full article here. Start with determining where your company is now and where you want to be. Having a clearly defined goal will help you as you create the succession plan for your potential leadership candidates.
When you have your candidates in mind, think of their current skills and abilities. Do they need training? What experiences do they need to fully engage in their potential? McGrath writes, “Training, promotion and development will be key to winning because not having the right leaders will be a crippling disadvantage when the economy turns up.”
What are you doing to help prepare your team for their leadership potential?