Progressive employers are proactive in developing certain employees who show potential as emerging leaders. It enables them to take their careers to the next level by preparing them for a future opportunity with the skills that they will need to be successful. Traditionally, technical ability is what has been the major consideration for promotion. The mindset of promoting the best widget makers because they can teach others how to make widgets as well as they could. When employers stall and react to a sudden vacancy, they are ill-prepared to fill that slot with someone who is ready on Day One to step into a new role. Any new position has a learning curve, but we can provide an employee with the necessary tools, resources and experiences to do their best from the onset.
In 2021, DDI Global Leadership Forecast reported that 55% of CEOs surveyed said that their top challenge was developing next-generation leaders
Today more than ever, self-awareness of one’s own strengths and areas of potential development are essential to recognize. Gaining a greater understanding of people skills (often referred to as soft skills) has been shown to be as critical as technical aptitude, if not more so.
In fact, as far back as 2016, a Wall Street Journal survey of 900 executives, 92% found that both technical skills and people skills were of equal importance.
Whether the employer is a corporate, government or nonprofit entity, developing leaders as part of succession planning is universal. Such development programs provide individuals with the tools needed to become effective leaders. It gives an individual the ability to identify what it takes to be a leader while also learning the core concepts of leadership such as collaboration with peers.
According to Forbes in 2019, $366 billion was spent on talent development ($166 billion in the US alone).
The top three leadership program offerings were instructor-led training (74%), personality and 360° assessments (between 70-85%) and executive coaching (63%).
While we offer all three, the greater impact is in coaching. It is more individualized and our programs last about 6 months; allowing a significant amount of time for application, analysis, evaluation and even creation of learned content. Learn more about our Coaching Program here.
Leadership development boosts employee engagement, increases the organization’s ability to deal with gaps in the talent pipeline, and reduces the challenges including cost associated with turnover. Great leaders, in turn, will attract, hire, and inspire great people.