Key managers are the bedrock for any size business. They shape the culture and provide the leadership to drive results in line with the vision, mission, and strategic goals of the organization. Due to the operational and leadership weight they carry, if a key manager leaves the business without a plan for a speedy replacement, the organization can be left incapacitated. As a result, the development of leadership and management bench strength is critical to providing for the continued success of the franchise business.
The process of bench building is relatively simple, however, discipline to implementation is where many organizations struggle. Adopting the following philosophies in your process will ensure your program is on the right path.
Plan to invest an amount of not less than 2 percent of your total payroll costs in successor development. Focus development in three areas:
Many organizational development people are running around touting their company's investment in high potential people, who they refer to as the "HiPo's." I suppose everyone else is a "LoPo" not worthy of being developed. Several years ago, William James, generally considered the father of modern psychology, said that most of us don't even use 10 percent of our potential. Imagine what could happen if everyone gave just 10 percent more.
In short, give people feedback. The whole concept of a performance review seems to be more focused on risk management than on performance management. Invest enough time and money in your management team so they know how to coach, lead, manage, and mentor the people you've entrusted to them. If some of your managers can't grasp the concepts involved in people management and leadership, then give them opportunities to do something else that adds value to them and to your organization. If they still don't get it, give them an opportunity to be successful with someone else.
Become known throughout your business communities as the proverbial "employer of choice." It takes more than wages and benefits to have the "employer of choice" reputation. Most people have a compelling need to do and be better. If you don't provide the opportunity for personal and professional growth, you'll miss out on the pool of people who look for ways to add value to your organization; and you'll be "stuck" with those who wonder how little they can do and still keep a job.
The younger generations are not your adversaries, they're not lazy, and their interests and needs related to growth and opportunity are not inferior to yours or mine. The younger generations are the very people who will sustain your business, either as employees or as clients/customers. So, who's next?
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