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Who Are Your Next Leaders?

In December of 2019, CNBC reported that Baby Boomers, who own 2.34 million businesses employing over 25 million people in the U.S., are retiring in record numbers.1 However, the quarterly Wilmington Trust Business Owners Outlook: Is Now the Time to Sell? survey performed the same year indicated that only 48% are preparing successors to take over.2

Clearly, a leadership gap is looming. Proactive employers will look ahead, strategizing to fill the coming leadership needs in their organizations. We teach that scripture provides both precedence and guidance for leadership development. One example is in Numbers 27:18-23, “Take Joshua the son of Nun, a man in whom is the Spirit, and lay your hand on him … You shall invest him with some of your authority, that all the congregation of the people of Israel may obey.”

In Exodus and Leviticus, we see many examples of Moses intentionally preparing Joshua to lead. He discipled Joshua through:

  • Skill Development: Joshua chose men for battle and led them.
  • Growth Experiences: Joshua observed Moses lead, stumble, and receive correction.
  • New Opportunities: Joshua led spies and stood guard inside the tent of meeting.

Today, when managers engage in leadership development training, the results are measurable. A 2015 study reported 114% higher sales, 70% lower turnover, and 90% lower absenteeism after leaders had engaged in training.3

We teach that building a culture of leadership development is one component of a healthy, valuable business. We use sequential steps to help companies establish plans for leadership development:

Step 1: Discovery Example: Gather information and identify obstacles

Step 2: Design Example: Cast vision, integrate leadership development into HR processes, create continuity plans

Step 3: Implementation Components: Education, exposure, expertise

Though 84% of organizations anticipate a shortfall of leaders in the next 5 years,4 with purposeful action, your company can be prepared.

 

Application

Here are some questions to consider as you reflect on how this information applies to your business:

  1. Does your company’s culture actively support the development of others?
  2. How do you monitor the growth of your leaders?
  3. Which of your existing leaders are capable of being coaches or mentors?
  4. What systems are needed to support your efforts?

Ronald Blue Trust’s Business Consulting division leverages biblical wisdom and practical expertise to advise business owners as they seek to faithfully steward the companies with which they have been entrusted. If you would like personalized guidance as you create a leadership development culture for your business, visit our website.

 

Click here to take our free business health assessment.

 

1https://www.cnbc.com/2019/12/10/as-baby-boomers-retire-main-street-could-face-a-tsunami-of-change.html
2https://apnews.com/press-release/pr-newswire/business-wilmington-generations-baby-boomers-09a8350781132f48ec0ee35ac39cf0c4
3https://www.td.org/insights/the-business-case-for-leadership-development-and-learning
4https://www.infoprolearning.com/infographic/13-shocking-leadership-development-statistics-infopro-learning/

The Holy Bible, English Standard Version (ESV) is adapted from the Revised Standard Version of the Bible, copyright Division of Christian Education of the National Council of the Churches of Christ in the U.S.A. All rights reserved.

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