Comerica Bank assembled a diverse group of professionals at Perry’s Steakhouse to discuss a critical topic: preparing the next generation of leaders and business owners for tomorrow’s complex economic landscape.
Attendees spotlighted the importance of investing in your upcoming pipeline of leaders. “Creating future leaders involves recognizing and guiding their potential through coaching and mentoring,” said Karen Russell, CFO at Mercalls. “It’s a matter of identifying those who both aspire to lead and possess the capability.”
The conversation also included the important distinction between leadership development and succession planning. Succession planning critically happens at every level of the organization — not just with leaders. That’s why it’s so important for executives and owners to think about the future.
Lastly, Comerica’s SVP Senior Wealth Planning Strategist Melissa Linn emphasized the importance of understanding the motivation of your future leaders. Knowing what drives them can help you identify the right successor, provide meaningful incentives and ensure you’re placing the business in the right hands.
This dinner was a powerful reminder that molding leaders takes time and effort. But it’s an essential part of ensuring the long-term stability of your company.
For a detailed summary of the dinner, download Navigating the Future: Fostering Leadership and Ownership Transitions in Complex Business Landscapes. - PDF (12.7 MB)(PDF, 12 MB)
