Building an Effective Leadership Development Program

Healthy organizations are consistently evolving. Especially in today’s fast-paced business landscape, workplaces need leadership that can adapt and thrive no matter what their respective industries endure. As such, there is a constant need for new leaders in all sectors with the skills to lead, manage, innovate, execute strategy and keep up no matter the changes in the business world at large. However, great new leaders don't grow on trees; part of an organization's responsibility is to help individual contributors transition to leaders.

What is a leadership development program?

Traditionally, leadership development programs are how organizations invest in internal growth and prepare for the future by equipping high-performing employees to take on senior positions. While this still holds true, the qualities and skills that make a good leader are consistently changing and apply to more types of managers than ever.

What kind of organization needs a leadership development program?

Every organization needs one. The ever-evolving competitive landscape means that your organization’s objectives and abilities of today will not be the same as those of tomorrow.

Understanding the context of your organization's challenges is vital to figuring out what kind of leadership, and what kind of leaders, you will need to develop. For example, what challenges will your company face in the coming years? What type of leader will help you meet those challenges? Will they need a combination of hard skills and so-called “soft skills” that have been proven to help companies navigate uncertainty and unpredictability?

However, not every leadership development program is created equal. Any organization can claim to have one, but successful execution does not happen by accident.

How leadership development programs benefit your entire organization

One obvious benefit of a leadership development program is easy to recognize - the programs ensure that experienced, knowledgeable, and capable people are always at the helm. But, the benefits extend far beyond its goal of growing leaders and have a ripple effect throughout the organization. Here are a few benefits of a leadership development program for your organization.

Improving your bottom-line

Organizations with leadership development programs tend to see financial benefits. This is true for a handful of factors, including the value of having leaders who are prepared to face challenges and deploy high-level strategies to meet those challenges. Also, leadership development programs can help save on turnover costs; when employees see that management is willing to invest in them and that there are roles for them to grow into, they are more likely to stay. As a result, employees striving for a future with the organization are also expected to be more productive.

Attract, develop and retain talent

Every organization is concerned with attracting, developing, and retaining top talent. Leadership development programs can be attractive to ambitious, highly skilled candidates and can help organizations retain in-house talent. Many of today's top performers grow frustrated with the lack of growth opportunities or the ability to contribute leadership in senior roles, so having a solid leadership development program in place can make your organization more appealing to eager candidates.

Ability to navigate change

Many organizations are still reeling from the sudden upheaval of the global pandemic in 2020. However, organizations with leadership quick to adapt and help others get on board with new ways of working or dealing with supply chain issues have (and continue) to weather the storm. Organizations with leaders who can navigate change will always have an advantage when dealing with disruptions to their industry.

Core elements of a leadership development program

While each organization should design its leadership development program to address its specific challenges and opportunities, there are some core elements common to all kinds of businesses. A few of them are:

Coaching

Coaching is the cornerstone of any leadership development program. Coaching provides access and exposure to top management and allows leaders to gain perspective into the day-to-day operations of the company’s leadership. Also, coaches allow potential new leaders to ask questions as they learn, get feedback on their ideas and performance, and practice their new skills. The skill of “leadership” can be nebulous or even overwhelming without the right kind of support; coaches, or peer groups, can demystify the process.

Accountability

Displaying a forward-facing sense of accountability as a leader instills the same value in your organization's broader culture. Accountability is an ethical value and reminds others in the workplace of their responsibility to complete their work to the best of their ability and to speak up when something isn't right. Encouraging accountability while helping others feel safe to pursue their ideas is challenging, but it is a skill that every future leader needs.

Change management

Change in the business world has always been inevitable. Leaders must execute a strategy to deal with change and ensure everyone is brought along with the transition. Traditionally, change management entailed a time-consuming process of finding and striking the correct tone and over-communicating change. However, given today’s speedy and complex nature of change, leaders must also empower workers as they deal with change on their level.

Communication

For leaders, communication is crucial and takes on greater significance. A leader's words have an imbued sense of authority on your team. The words and tone you use have a far-reaching impact. As such, leaders should focus on clarity and take immediate steps to ensure no misinterpretation. Further complicating matters is that leaders must maintain a balance of approachability and respect, which is difficult even within a leadership development program.

Setting goals and milestones

Clear and achievable goals and mile markers are essential to any leadership development program. Not only do they keep the program and its participants on track, but they also help teach new leaders how to measure success for their team and the organization. Many leaders make the mistake of imposing goals for their team that are too big of a stretch or not enough of a challenge. Learning the strategy behind creating measurable and attainable goals while maintaining an element of aspiration is essential to any leadership development program.

When developing a leadership program, you'll also need to consider what specific skills your organization may need in the coming years. For example, a successful leadership program that works for you focuses on traits that position you for success. Contact us today, we want to hear about your current leadership development priorities. We can help!