Use Leadership Development to Reveal What Leaders Look Like in Your Company
As a manager in a growing business, you may find that leadership development often gets pushed to the bottom of your priorities. After all, when you’ve got several fires to put out and a pile of work that never seems to shrink, it might seem impossible to plan for the future when today demands most of your time.
However, the success of your company depends on leadership development. A strategic plan for developing leaders among your employees ensures that your objectives stay on track and your team stays challenged. Here are a few ways to think about talent management for leadership:
Decide what leaders look like in your organization. You need to determine the competencies and leadership skills that make a great leader. With a clear set of qualities and experience that lead to promotion, you and your staff will have a picture of what your agreed-upon goals and objectives are for the future.
In order to determine what those competencies and qualities are, consider implementing a behavioral assessment for the great leaders you already have in place. Once you’ve identified the traits and tendencies that make your current leadership team work well together, you’ll know what you’re looking for in the future leaders of your company.
Identify and develop leaders through performance management. The most cost-efficient way to leadership development is through the staff that already knows your company, your culture and your internal processes.
Take time to develop specific plans that evaluate progress against potential based on the employee’s success and proficiency in their current position and the factors involved with moving up in the organization.
Evaluate your leadership development tactics periodically. Some companies measure the percentage of positions filled with internal candidates as a way to evaluate their effectiveness at leadership development.
You can also think about new hires as “road testing” for future positions. If you hire someone, don’t think about only the position they are interviewing to fill. You can begin the hiring process by determining the long-term progress of the person that will take the position and evaluate the candidates based on a set of competencies and skills necessary for future positions, too.
PI Consulting Group helps your company prioritize leadership development for the future success of the organization. With tools like the Predictive Index, we help you evaluate the traits and qualities that add up to great leaders, and then partner with you in developing a talent management strategy. Give PI Consulting Group a call for an initial appointment.