No organization can continue to grow and prosper without building a second line of leaders ready to take responsibility and steer the ship when needed. The absence of a clear leadership development plan puts the company at risk of administrative chaos the moment current senior leaders leave or retire.
A successful leadership development plan begins with Talent Identification. Clear scientific criteria must be used to evaluate employees not only based on their current technical performance but, more importantly, evaluating their Potential, emotional intelligence, and ability to positively influence their colleagues. Discovering potential leaders early is the cornerstone of this process.
The next step is designing customized development programs that combine theoretical and practical aspects (experiential learning). The plan should include assigning mini-leadership tasks and Stretch Assignments to leadership candidates. This puts them in a safe environment to test their decisions and learn how to handle risks and manage teams under pressure, with support and supervision from senior leadership.
Finally, continuous Coaching & Mentoring must be provided. Pairing potential leaders with experienced executives to transfer implicit knowledge and corporate philosophy is what polishes a leader's character. These periodic sessions provide necessary feedback and gradually build the employee's confidence in their leadership abilities.