There is a great need to develop the younger generation to become better business advisors. The art of developing integrity, technical skills and strategic thinking in younger generation staff members to become better business advisors can be challenging, but it doesn’t have to be overwhelming.
An excellent place to start is by mentoring them and giving them opportunities to lead. If you embrace mentorship in your company, you will find that you will discover more leaders. Not only will you empower younger staff, but you will also be helping with retention. Companies that offer young employees an opportunity to grow within the organization will be more likely to hang onto them.
People who have leadership potential are more likely to have a naturally good work ethic. They want to work hard and learn – and they are coachable. We too often waste time on people who do not have these traits and overlook those who do actually have the essential leadership attributes. We should encourage activities that bring out the best in our younger staff members. This will promote integrity and good work ethic, and they will be more open to being coached.
There are many ways to transfer knowledge and develop talent. Here are some important ones:
Training for Success
Training will be integral in their success. Empower them with knowledge so they feel positive about the work they do, as well as how their work actually contributes to the company. When they first start out, they should begin with projects that will allow them to feel like a part of the team, while learning the necessary processes involved by shadowing senior business advisors. Observing how they work with clients and solve problems will lead to better understanding the process. When they are comfortable, they can then take the lead under the supervision of senior advisors. The best way to learn is by doing. By providing these opportunities, they will be more comfortable and less worried about making mistakes.
Industry Knowledge
It is vital that your younger staff members begin to feel like a part of the industry. They can grow significantly with knowledge secured at industry conferences, seminars and webinars. A great way to help them grow is to encourage continuous learning as a part of their development. Schedule regular reviews to monitor their progress. Continuous learning should be a way of life for all of your staff.
Read, Read, Read
Encourage reading. Make sure to encourage reading industry publications, among other materials that will support their understanding of what’s happening in the industry. Not only that, but they should learn how it’s connected with outside factors. Be sure to have them research trends and stay on top of changes in law and tax codes that affect your business. Educate your young staff members on the importance of being aware of the economy at every level. They need to know how it will impact your clients.
Evaluate Your Training
A real test of all of your mentoring efforts will come when you allow them to take ownership of a project or client. You will see how well they have absorbed your training. Be sure to observe how they handle tough decisions, deadlines and resolve challenges. Your feedback will help enhance their growth.
Companies who want to groom future business advisors should seek opportunities to take advantage of the ways to grow individuals. Watching them succeed is the best reward for mentoring well done.
