Grow your own executive team.

Do you know where your next managers will come from? If you don't have a specific plan other than to search for candidates as the need arises, you may be making a serious mistake.

It's a myth that some people are born managers and simply can step into any management role. At best, a few of us have a natural talent and interest in supervision but still need extensive training and experience to do a job well. And doesn't it make sense that the best experience candidates can get is gained in your own company or firm? That way when they're appointed to head a department or division, they will be able to hit the ground running, knowing the ins and outs of the business and having developed relationships with other managers in the organization.

The only way that can happen is if your organization establishes an "incubator" for managers. To do this, start by selecting a handful of young candidates based on their interest and demonstrated skills. Encourage them to enroll in management workshops and evening classes and consider paying all or part of the tuition. Assign mentors to watch over their activities and seek out opportunities to test their skills.

STANLEY ZAROWIN, a former JofA senior editor, now is a contributing editor to the magazine. His e-mail address is [e-mail].