Identifying talented employees early on and grooming them to be future leaders is the smart way to build your management team, a recent BusinessWeek story argues.
In summary, the article outlines five ways to cultivate talent:
1. Diversify job roles – rotate up-and-comers regularly (every three to five years) to keep them interested; but don't move them too quickly as they need to see project outcomes
2. Let them shadow – give talented staff members the opportunity to spend time with senior executives to learn management skills through observation
3. Speak out – to avoid creating a yes-men culture, make sure employees with potential know it is acceptable to offer constructive criticism
4. Get board – encourage your rising stars to present to the company board, a process that introduces new talent to the directors and vice versa
5. Returns policy – if a talented worker takes a job elsewhere but then returns to your company don't see them as a traitor, view the process as a learning experience