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This post is part of our biweekly "Office Hours" video series, featuring quick career, workplace and leadership tips from talent management experts and business leaders across the globe.

According to research from the Brandon Hall Group, over 10,000 baby boomers retire every day. By 2020, millennials will make up 46 percent of the workforce. A demographic shift is taking place—if you don't properly invest in younger employees, your organization will soon lack solid leadership.

A well-defined leadership development program sets high-potential leaders on track to run your company in ways that match their unique talents and your company's particular needs.

That's why Melissa Lanier, director of career and leadership development programs at T-Mobile, believes that all companies should pick a process for identifying promising leaders and use it consistently to guide strategic investments.

In this video, Lanier distills her approach into three basic steps. At their heart is a commitment to supporting individual leaders through their entire leadership journey: helping them build valuable skills, form key relationships and steer your organization into the future.

Header Photo: Creative Commons