You probably have an idea of what makes a good leader: they have to know their stuff. They need to be liked but respected. They need to be intelligent and driven but able to give and accept help. And they have to be able to make tough decisions, then accept the consequences if the results don’t pan out.
Have you ever looked at the members of your team to see who is ready to step up to the next level? If you don’t want to stay in your job forever, it’s time to start looking for a successor, and hiring from within is usually the best way. Current employees know the history of your company and all the personalities involved and already fit into your corporate culture. Here are some factors to consider when appraising their potential:
1. How well they know the business. Your high-potential employees should have not only technical knowledge, but institutional knowledge. They should understand how their skills and their work are related to the company’s goals. And they should be the types who will use their expertise but are always striving to learn more.
2. Whether or not others respect them. Your top choices should know their stuff—and everyone else should know they do. Not that they should brag or show off, but employees won’t respect a leader who seems clueless.
3. How much ambition they have. People with strong potential leadership qualities tend to have a regular career progression. Check to see if they’ve accumulated new responsibilities, had consistent successes and worked to gain additional knowledge.
4. Whether they work well with others. The most creative, ambitious and knowledgeable person in your department may unfortunately be a lone wolf. You need someone with those qualities who also knows how to form partnerships. It’s not about being friends; it’s a tactical skill that allows them to make better, more informed decisions.
5. Whether they have good instincts. Can they make good decisions without a lot of information—or with too much? You can have all of the research, cost-benefit analyses or market surveys in the world, but nothing is certain. Leaders need to the courage to made decisions while possibly taking risks.
So do you feel you have the right type of people onboard to take over your company’s leadership someday? If not, it may be that you’re not hiring the right people in the first place. Give Triumph a call if you’d like to discuss how we can help you find the leaders of tomorrow.