Mar 2, 2022
Having trouble finding a candidate to take over once you've left the business for good? You needn't confine succession planning to family members or fellow C-suite occupants.
Jim Daniels, president and chief operating officer of Mid-State Sales in Columbus, OH, says the key to a successful strategy is to consider rising stars both in and outside your organization. Jason speaks with Jim about creating a succession roadmap for every key role and mentoring talent to take those positions forward.
At Mid-State, Jim's following a similar blueprint to the one that brought him into leadership, providing an environment in which Mid-State's 80 employees spread across the company's four branches can excel. Attracting top talent means providing candidates with a clearly defined path forward.
And even top talent requires training. More specifically, mentoring. The difference, says Jim, is profound. In many ways, training is a one-way experience; this is how you do x-y-z. On the other hand, mentoring is a give-and-take exercise––and it's the key to successful succession planning.
Succession doesn't always mean ownership or presidency. A distributor can mentor talent to fill many roles within the company, paving the way for continued health and prosperity of the entire organization.
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Distribution Talk is produced by The Distribution Team, a consulting services firm dedicated to helping wholesale distribution clients remove barriers to profitability, generate wealth and achieve personal goals.
This episode was edited & mixed by The Creative Impostor Studios.
Special thanks to our sponsor for this episode: HMI Performance Incentives, providing innovative, data-driven B2B incentive solutions.