Managers need to take risks in developing the next generation of leaders. That's the view of Sam Knowles, CEO of Kiwibank.
He says the time is right to put young people in high-risk situations at work and give them the chance to lead firms out of the recession.
"I argue that it is often the experienced people that have got us into the problems we are now experiencing and it may be that the younger people who are coming through will be the best ones to get us out," says Knowles. "Companies should not get too carried away looking for experience."
Knowles was himself given opportunity at a young age during the financial downturn of the 1980s. "A lot of what I learned came from came from being given a lot of opportunity in the crash of '87 to '91," he says.
"And in that case it was the rebuilding of the BNZ. A lot of the business skills I have today came from that experience - of helping to form a new business plan for the bank."
Knowles says it is worthwhile reflecting that this is the time that the next generation of leaders will come through and that "this is the time that the batten does get handed over".
Heather King, general manager of workplace survey company JRA, agrees, saying great workplaces go beyond just training for the job in hand and seek to develop their people much more holistically - making them better, more rounded people who are able to step up to the plate. She says firms with an eye on the future are using the current climate to further develop their people's capabilities and leadership potential.
"Our research shows best workplaces spend more on training and development and give more people access to these opportunities. Certainly they put much more effort into their leadership development activities. And right now we see them prepared to take risks with their people by stretching them to accomplish more," says King.
"The recession offers plenty of scope to challenge people by pushing their goals, inviting their ideas and suggestions, and involving them in cross-functional activities that extend their existing knowledge and skills".
JRA will be running the JRA Best Workplaces Survey with the New Zealand Herald from June 1 to August 31. Registrations are now being taken.
Take part in the Best Workplaces survey 2009 The JRA Best Workplaces '09 survey is run in association with The New Zealand Herald
