Succession planning: Every effective leader’s duty

Defined as the process wherein employees are recruited and trained from within the company with the objective to take on key leadership roles in the future, succession planning can be a delicate subject for executives in position. However, it is every successful leader’s responsibility to initiate the development of an effective succession plan.

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In the instance company leaders leave, retire, or die, a succession plan puts in position equipped, experienced, and competent employees. Merrill Private Wealth Management’s Patrick Dwyer, formerly of Merrill Lynch, believes that the arrangements for the employee to take charge of leadership requires training, talent development, and on-the-job trailing. This gives the employee the chance to learn and take a close look at the role being passed on to them.

Succession planning makes sure that there is no leadership gap following the exit or retirement of a leader. In family businesses, a succession plan ensures the continuation of an operation even after the retirement or death of the VIPs in the company. A key step towards achieving an effective succession plan is defining a company’s legacy. This would determine the next best person to lead the business.

Patrick Dwyer, previously with Merrill Lynch, says that every leader should strive for continuity. Leaders should also have the end in mind even at the beginning of developing a succession plan. This creates a perceivable growth path for employees who display leadership potential. It also ensures business success in the hands of new leaders.

In the world of business, it is important that people first invest in self-growth through education. Merrill Private Wealth Management’s Patrick Dwyer, formerly of Merrill Lynch, believes that education and effective succession planning are never a waste of time and can drive businesses and professionals toward success. Head over to this blog for more updates.

Key principles behind dynamic leadership

Any business benefits from employing dynamic leaders to keep the company competitive. With today’s market, being able to adjust quickly and efficiently can be the difference between being on top or losing out to competitors. This is why employees should be led by dynamic leaders who can draw out the potential of their peers and maximize efficiency. According to business expert Patrick Dwyer of Merrill Lynch, dynamic leaders are what drives businesses further. Here are some key principles behind dynamic leadership which you can employ in your business.

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The first principle of dynamic leadership is understanding that leadership is a process and not just a position. No matter how crucial a cog may be, it has to be connected to other cogs for the entire machine to function properly. Leadership isn’t defined by a corner office or a title but by the actions done every day.

Another principle of dynamic leadership is a great understanding of time and efficiency. A dynamic leader sees the loss differently. When a meeting is delayed regardless of whatever reason, a leader can see the value that was lost because of delays. At the same time, that same attitude is used to assess processes and make sure they are as efficient as possible.

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And in connection with efficiency, it’s a dynamic leader’s job to question everything. Even if work processes are showing great results, it’s necessary to know how they work. A dynamic leader should replicate successful processes to segments that need it, and at the same time, try to maximize other processes, even if they already yield great results.

According to Patrick Dwyer of Merrill Lynch, the survival of any company, regardless if they are on top or at the bottom, depends on how far dynamic leadership can take them.

In the world of business, it is important that people first invest in their self-growth through education. Patrick Dwyer of Merrill Lynch believes that it is never a waste of time to learn new skills. For more reads on leadership, visit this page.

Leadership 101: The importance of being a strong follower

Leadership is chiefly affected by followership, and it’s a fact that great leaders are great followers first. However, some workplaces forego training that develops an employee’s skills which are appropriate for being a great follower, and head on to improving their leadership competencies.

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An effective follower creates a sense of awareness not just for oneself, but for their colleagues, coworkers, clients, shareholders, and the public. It’s integral to maintain the consciousness that being a leader means knowing how to bring everyone together. By being a good follower first, one learns how to read the room. Empathy is an invaluable quality. Patrick Dwyer of Merrill Lynch believes that it’s important for a leader to maintain the knowledge and comprehension of what inspires and encourages others in the workplace.

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Good followers choose their battles. It’s impossible not to encounter a workmate whose views one is opposed to. A good follower knows not to engage in every political tirade that others initiate. Differences exist and must be recognized; good followers how to get along with colleagues with opposing views. Diplomacy is a key quality in leadership.

Being a good follower means being courageous even when presenting a dissenting opinion. According to Patrick Dwyer of Merrill Lynch, when a leader is headed to the wrong path with their statements and actions, an effective follower is brave enough to disagree with the motions, and offer different solutions. Speaking up takes guts and a strong conviction. Good leaders who have a strong sense of followership are guided by their moral compass.

Patrick Dwyer of Merrill Lynch believes that education is tied to success in the world of business. Subscribe to this blog for more updates.

Do’s and Don’ts for first time leaders at work

Taking on a leadership position may not be for everyone, but we all have to assume the mantle at some point in our lives, especially in the workplace. Being in charge of several people can be new to many employees. This change in dynamics ushers in a particular discipline with regard to interacting with non-executives.

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According to Patrick Dwyer of Merrill Lynch, leadership should be embraced through preparation. Here are some do’s and don’ts for first time leaders at work:

Don’t just give criticism. Give feedback There is a mountain of difference between explaining to a person where they went wrong than simply telling them outright that they are wrong. In business, It’s not always about getting things right. People managers have to account for the process that leads to the outcome. By providing feedback, leaders teach workers to improve their process and productivity.

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Don’t do it all. Learn to delegate We often complain about people not doing their part in group activities. But when it comes to work, a leader shouldn’t shoulder the bulk of the work simply out of obligation. Neither should he or she hand all the work to other people. A good leader should learn the ropes of delegation. This involves awareness of the strengths and competencies of other people and seeking out the best candidates for the tasks at hand.

Don’t rely on yourself for everything. Get a mentor In most corporate settings, even your boss has another boss to answer to. Patrick Dwyer of Merrill Lynch would insist that it’s not a sign of weakness to ask more experienced people for help. If you are new to a leadership position, find guidance from someone in fulfilling the role.

Just like any other profession, entrepreneurship requires specific skill sets to be obtained and mastered. Patrick Dwyer of Merrill Lynch encourages everyone to never stop learning. To read more about business leadership, visit this website.

Can training and development affect company culture?

Training and development is important to keep the company dynamic and ever ready for the changes in the business world. A good work culture helps in fostering an atmosphere of constant learning and leadership among team members.

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By encouraging employees to undergo training programs for skills enhancement and leadership development, a company is cultivating a workplace culture that encourages loyalty among employees. Valuing human resource builds a sense of trust and confidence. An employee who feels needed and appreciated is more likely to show up to work with enthusiasm. Patrick Dwyer of Merrill Lynch believes that providing employees with great opportunities to learn helps in employee retention.

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A great company has high rates of employee retention and it speaks well of a company’s culture. More than the incentives and compensations, continuous training and skill development encourage employees to show up to work inspired to take on another day at the office. With this kind of culture, a company is set to succeed for a long time, making way for business sustainability. Quality leadership is achieved through conscious learning and improvement of respective skills.

A lifelong learner, Patrick Dwyer of Merrill Lynch says it’s paramount for a company to offer means for its employees to grow in their preferred learning areas. While it’s appropriate to train them in areas of their strengths, it won’t hurt to encourage them to learn new disciplines.

Patrick Dwyer of Merrill Lynch believes that education is a key to building strong skills that are crucial to many aspects of life. For similar reads, head over to this blog.

How can leaders create a truly dynamic working environment?

The sad reality is that not everyone shows up to work excited. The daily grind can get too monotonous for some that it affects their enthusiasm. A person’s working environment also plays a crucial factor. Workplace politics, conniving colleagues, and seemingly never-ending tasks can dampen performance. For Patrick Dwyer of Merrill Lynch, a healthy office environment will ultimately contribute to the professional growth of employees. With this, how can leaders create a thriving and dynamic space for their people?

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Prohibit micromanaging


Managers have to learn how to trust the people they lead. After giving the directions, expectations, and other details, leaders should grant their members the autonomy. Believing in their skills and resources will boost their confidence and productivity. Though mistakes might happen, they’ll learn how to own up to it and make the necessary changes.



Encourage collaboration


Patrick Dwyer of Merrill Lynch believes that achieving success is possible with constant learning. In the workplace, this can be achieved by encouraging collaboration. Working with colleagues lets a person gain new knowledge and faster support. Establishing a collaborative workplace allows co-workers to be more efficient while understanding other aspects of the operations.

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Equip with the right tools


Providing staff with the right resources and technology might just be the push they need to regain their motivation at work. Sometimes, being stuck with inappropriate technology and limited materials can discourage them from giving their best. When professional needs are met, people are most likely to respond with enthusiasm.


Creating a self-motivated office environment may take some time. But with the right methods, managers and staff will be able to take the right steps that will make everyone happier and more productive.


An advocate of lifelong learning, Patrick Dwyer of Merrill Lynch believes that education and hard work are the keys to success in the ever-changing world of business. For more reads on leadership, visit this page.

Six ways to stay positive at work even on bad days

Maintaining a positive attitude has numerous benefits. An employee who displays good attitude, and couples this with optimism in the workplace, is more likely to be productive than those who mope and drag themselves throughout the work day. A positive attitude is reflected in the following habits:

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Start the day right; dress up and show up. The early hours of one’s day set the tone for the rest of the day. Upon rising, fixing one’s appearance to be pleasant in the workplace can make all the difference.

Be aware of the negativity in the surroundings. Knowing exactly what triggers negativity in the room helps one fight against it. Once the source is identified, an employee can make good choices in handling it.

Keep situations under control. An employee should make it their goal to nurture internal strength such that no event outside their control can affect their inner wellness without their permission. The difference between a good day and a bad day is a person’s attitude.

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Stay enthusiastic. Attitude is everything. Lack of enthusiasm breeds unhappiness and dissatisfaction. In the workplace, create something to look forward to with enthusiasm. This is the building block of happiness.

Praise and appreciate. An attitude of gratitude goes a long way, especially in a workplace bogged down by negativity. An employee should strive to be the person people will gravitate to, knowing they can be uplifted by your presence.

Say goodbye to toxic people. People who purposely make someone’s day at work miserable must be let go, if their attitude affects the workplace too much. A positive, accepting, correcting culture must be formed among team leaders and members.

Patrick Dwyer of Merrill Lynch believes that any barrier to the growth of any business venture can be eliminated with education. For more updates on knowledge building for business, visit this blog.