Do You Have a Leadership Development Strategy For the Future of Your Company?
Leadership Development Helps You Seamlessly Transition in the Future
Your employee is ultimately responsible for their career path, but investing in leadership development can hold immense benefits for your company. Your employees will be engaged and excited about their jobs, and as your top management retires or moves on, you’ll be ready for a seamless transition.
While leadership development may seem to indicate a program full of classes and seminars, there are a lot of steps you can take to advance your emerging talent that will develop their skills in a hands-on way or help you gain important insights into their behaviors and abilities.
Get them started early with networking. Networking is a skill, and it requires a lot of practice while the stakes are low. Begin by creating in-house opportunities for networking, such as coffee hours or lunches that bring people together from different teams or departments.
You should also be taking a couple of employees along to your own networking events so that they can see you in action and practice the types of conversations that work well for sharing ideas and building professional relationships. Keep an eye out for employees that attend industry events on their own, because they are showing signs of passion for their job and may play a key role in your organization in the future.
Create mentoring relationships. Sometimes mentoring happens organically, but it may need a little structure to thrive as a mode of leadership development in your organization. Encourage your current leaders to have a constant focus on mentoring other employees and preparing them for future opportunities in your organization. You might start with a shadow program between departments or team members.
Maintain a formal feedback loop for leadership development. Your employees have regular reviews, but you should also be giving them an opportunity to tell you whether they believe they are being adequately prepared for the path they’re pursuing within your organization. This exercise is most effective if employees can provide feedback anonymously and if management is open to hearing criticism. It’s a great opportunity for growth, and hearing criticism may be less stressful than watching your best talent move on to other companies.
Use objective tools to identify leaders and match them with their best roles. A resource like a behavioral assessment can help you take the guesswork out of identifying your best candidates for leadership development. It’s often tempting to promote employees with a similar personality to your own or to trust a gut feeling, but a behavioral assessment gives you a data-driven picture of employees’ motivations, behaviors and tendencies.
Leadership development can be a fun and exciting aspect of talent management, but don’t go it alone. PI Consulting Group has the expertise and the resources you need to plan for the future of your company. Talk with us about your plans, and we’ll help you put them in motion.