By Carrie Steffen
Bridging the Gap
Bemoaning a lack of future leaders within the firm is not a solution to the perceived problem. Instead, it behooves current leaders to identify and nurture potential leaders, helping them develop the relevant skills and clearly communicate a defined path to leadership as well as expectations for applying targeted competencies. Young professionals with aspirations of leadership, in turn, must embrace opportunities and demonstrate willingness to meet current leaders partway.
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Firms are at a crossroad when it comes to transitioning to the next generation of leaders. According to the CPACA study on Succession Readiness, 48.3 percent of firms of all sizes cite “lack of future leadership talent” as a primary obstacle in their succession.