Developing Purpose Built leadership development programs
If you do not already have a leadership development program in place for your high potential leaders, you are missing out on a huge opportunity. Having a strong team of leaders to drive innovation and productivity throughout your entire organization can help your company secure its future and increase revenue.
The leadership gap has been growing larger and investing in leadership development can help your company gain a competitive edge. According to the Harvard Business Review 66% of companies are currently investing in leadership development programs. Unfortunately, the same study shows that only 24% of these programs are considered to be successful in developing future leaders(1).The key to developing effective high potential leadership programs that drive business impact is by creating purpose built leadership development programs.
Infopro learning has more than 25 years of experience in creating successful leadership programs that unlock human potential. We have worked with numerous industry leaders to develop purpose built learning solutions to develop their high potential talent.
We use a 3 phase strategy to develop training programs that are aligned with organizations business needs. This strategy begins with identifying the gaps in employee knowledge that need to be filled to reach the organizations goals. The next phase is to promote executive sponsorship and support of the program. The third phase is to intentionally build diversity and inclusion into the program.
Phase 1 : Strategic Alignment
when you begin creating a training and development program for your high potential employees there are 3 different factors you should consider. The first is what skills your potential leaders will need to successfully fill the roles that are currently being filled by the fast retiring baby boomer generation. Your top performers will need to learn new skills in order to take over senior manager type roles.
You will also need to consider the future of your organization and the new kinds of skills that will be needed to secure its future success. With the continuous changes throughout different industries and technological advancements new leadership roles that have never existed before are being created all the time.
The third factor you should consider are the career goals of your high performers. Today’s employees are more likely to stay working for a company that invests in their future.
Thinking about each of these factors will help you create a clearer picture of the kinds of leadership skills your high potential programs should focus on developing. Strategically aligning your leadership training programs with your future business goals and needs will help set your organization up for success.
Phase 2: Executive Sponsorship
The next essential component is the involvement of your executive teams and senior management. Senior leaders play a huge role in the success of your leadership development programs. They can build excitement and engagement by showing their support and encouragement to developing leaders within the program.
Senior leaders also play a key role in spreading the word about the program and it’s benefits. Many organizations have their senior staff nominate candidates for development programs and have create awards to recognize and celebrate those who have completed the program.
Phase 3: Inclusiveness
Another essential component that is often overlooked is to plan for and create inclusivity. This can be done by clearly identifying what the organization is looking for in high potential leaders and being transparent about the requirements. This will help promote diversity and equity into your leadership development programs.
Creating a strong pipeline of diverse leaders can greatly improve your company culture and profit margins. According to recent research by Mckinsey and Company organizations who had higher rates of gender diversity earned 15% more than those who did not. It was also found the organizations with higher rates of ethnic diversity in their leadership teams earned 35% more than those who did not (2).
Having a strong team of leaders is essential to the success of any business. Leaders drive productivity, innovation, and help your employees navigate through challenges. Investing in developing your high potential leaders will help secure the future success of your organization.
To learn more about unlocking the potential of your high potential employees read the eBook High Potential Leadership Programs