The Importance of Mentorship in Effective Succession Planning

One of the best ways to prepare the next generation of leaders is through mentorship. Floro Business Strategies explains the importance of mentorship and how to implement mentorship for effective succession planning:

Increases employee retention and engagement

You can’t usher in a new generation of leaders internally if you don’t have talent that is motivated, engaged, and passionate. An employee’s levels of motivation, engagement, and passion are directly proportionate to their perceived value. If employees don’t feel valued, you can’t expect loyalty or longevity. Offering mentorship is one of the best ways to show your employees that you care.

Implementing mentorship in succession planning shows talent that you are willing to invest time and money into their professional development. When employees feel valued, they are eager to stay and build a future with the organization.   

Provides cross-functional experience

Executives must have a basic understanding of how each department operates. Therefore, it’s important that the next generation of leaders has the opportunity to explore operations on all levels. 

Mentorship in succession planning provides potential successors with cross-functional experience, so they can effectively lead teams with diverse skills and specialities. Mentorship allows talent to take a peek into roles they would otherwise know very little about and develop relationships across all levels of the organization.  

Allows talent to see leadership in action

Leaders are not born—they’re developed! Executives became strong leaders through observing strong leadership and applying what they learned from their predecessors. Mentorship is essential in succession planning, so the next generation of leaders can see examples of strong leadership.

Mentorship in succession planning allows talent to witness demonstrations of effective communication, agility in the face of adversity or sudden change, creative problem solving, and more.   

The easiest way to get started with implementing mentorship and planning for the future is by partnering with a business strategist who understands effective succession planning. Interested in learning more? Contact Floro Business Strategies today!

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