Orlando Business Insurance: Developing Future Leaders

Orlando Business Insurance: Developing Future Leaders

We talked a few weeks back about why it is essential for Orlando business owners to have a succession plan for their operation to ensure the longevity and success of their company. Part of that plan is grooming future executives who can take on a role in your company.

Here are some tips to think about as you look to set up a plan for the future leadership of your company.

Keep an open mind. Don’t be quick to select your top selling employee or stellar standout. Take your time, select a few promising candidates and watch how they evolve and respond to various situations. Do they adapt and learn new skills quickly? Do they collaborate well with others? How do they respond to a crisis or issue that arises? Sometimes the best fit for your company may not be the most obvious one.

Set them up to succeed. Budding leadership needs to be developed and nurtured. Set up a mentor-ship program. Allow employees more leeway on projects. Expose them to other areas of the business and see how they do. Taking the time now to develop and nurture employees will pay huge dividends later on, especially when it comes to securing your company’s long term future.

Include staff in decision making. This may not work for all employees and companies, but try and find ways to include younger staff in making certain decisions. They get a feel for how the business runs and you can see their decision making and business skills.

Provide feedback. It is essential that employees, especially ones you see as potential for future top positions, grow as professionals. Part of the growth process is providing regular feedback. Providing both positive and negative (but constructive) feedback can help candidates assess their progress and give them concrete skills to work on.

Part of the process includes assessing and protecting your business against liabilities and exposures. At Newman Crane, we have Orlando business insurance policies to protect your Orlando business operation from a number of potential losses, including liability and property damage. Contact us today for more information about our Orlando Business Insurance programs. (407) 859-3691.