Leadership talent can be a scarce commodity in organizations without feeding and caring in the form of investment and coaching. When you consider that frequently supervisors, managers are not formally trained; rather they’re promoted then must learn on the job and either sink or swim. The survivors are typically rewarded with increased responsibility, occasional off-site developmental conferences, and periodic performance feedback until they fail or hit their capability maximums. Those who stumble along the way may receive formal coaching in the hopes that they can be fixed. Those who hit their capability maximums are retained until or unless they’re seen as blockers to the advancement of more junior leaders.
This suggests that frequently it’s the survivors not the most talented who become leaders in organizations. In most organizations the most valued assets are its people - its human capital. Think of how much better the quality of leadership in organizations would be if we, first, selected and subsequently prepared supervisors and managers to become successful leaders rather placing precious human capital in untrained hands. Then, second, continue the investment in our leadership talent through an internalized, formal continuous learning and development process.
The steps for success in identifying and developing talented leaders are:
- Identify the key leadership competencies critical to success in your organization.
- Assess each leader’s strengths against the organization’s key leadership competencies and identify the gaps.
- Develop a Personal Development Plan (PDP) with 1-3 goals with corresponding actions, metrics and timelines to address the leadership competency gaps.
- Develop an assessment process to rank leadership talent in terms of performance and potential into three groups, i.e., Top, Solid or Decision Needed, a 9 Box tool works well. The Top Talent Group are leaders who are ready for promotion now or soon; the Solid Talent Group are leaders who are either well placed or need specific development to be promotable in the future; while the Decision Needed Group are leaders who may have maxed out in capability and may need to be moved.
- Develop an internalized Succession Planning Process to identify potential successors to key leadership and/or executive positions. Then allocate leaders in the High Talent Group as potential successors for key positions in the succession plan. Consider allocating leaders in the Solid Group to the succession plan if appropriate.
- Provide coaching and ongoing support to leaders in accordance with development needs captured in their respective PDPs, performance appraisals and the succession plan.
- On a quarterly calendar year basis review the readiness and opportunities for leaders in the succession plan to be moved, i.e., promoted or moved laterally, into positions that will provide growth, development and preparation for more responsibility.
- Continue to invest in leaders’ growth through the active use of the organization’s leadership development process even in difficult economic times. Typically organizations reduce development budgets; the irony is that leaders need even more development to help them successfully navigate through challenging times. Finally, consider allocating more leadership development dollars to the Top Leadership Group and fewer to the Solid Leadership Group based on readiness.
Bob Corbett