Richard Ghilarducci Lists Ways How Mentoring Can Support Succession Planning
Business

Richard Ghilarducci Lists Ways How Mentoring Can Support Succession Planning

Succession planning and mentoring are important to the continued strength and growth of a company. As Richard Ghilarducci says, this process involves identifying and developing new leaders who can replace old leaders when they leave, retire or die. Succession planning and mentoring go a long way in competently preparing experienced and capable employees to assume these roles as they become available over time.

Richard Ghilarducci marks the ways mentoring can support succession planning

Mentoring is a critical aspect of succession planning. It aids in developing career paths and transferring knowledge from within – from one employee to another. By mentoring an existing employee, companies would also be able to increase morale by showing the employees that they are willing to invest in their future career paths.

Implementing a robust mentoring program prior to succession planning may help facilitate a smooth transition with improved employee buy-in. There are many ways a mentoring program can support succession plans within a growing company, such as:

  • Mentoring improves engagement: Employees are not separate from the larger company. Regardless of their job title, the everyday encounters of an employee help frame their work culture view. Mentoring aids in shaping how the employees engage and create a supportive environment for them to learn and grow.  What might seem like a criticism otherwise may sound like a constructive feedback from a trusted mentor.  The majority of employees would want to how far they can go within their profession. Mentoring makes it simple to identify the ones who desire to move up the company, and have leadership capabilities.
  • Mentoring helps retain employees: Opportunities for upward mobility is important for retaining employees. It communicates that a company truly invests in long-term employee development. Right from the start, mentoring programs help in ensuring new employees that the business leaders want to help them to grow within the company rather than anywhere else.  A robust mentoring program can be a major perk that also attracts the interest of potential employees.
  • Mentoring brings together strengths: No matter whether the strains in the office or remote work have taken a toll, at times, distance can be avoidable if leaders make it a point to keep connections strong. Mentoring programs can be a means to reconnect and help employees feel like the essential part of the businesses. Regular check-ins with mentors can help strengthen connections and bring employees closer. Mentors can also work on some of the behind-the-scenes work for succession planning. As they are usually the friendliest and experienced of all employees, mentors generally tend to be well aware of the ins and outs of the company. They know how exactly important it is for employees to be on board for succession plans to be the most successful. These mentors often comprise of middle managers, who are trusted by employees because they have experience in many different positions.

Employees from different generations have different expectations and expertise. In the opinion of Richard Ghilarducci, mentorship programs can capitalize on this age gap and bring together the strengths of different employees. While Boomers might be well versed in a specific area of business operations, younger employees might be more tech savvy. Mentorship programs allow employees from varied generations to collaborate for the betterment of a business.

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