Companies must handpick both future leaders and their prospective jobs.
Each assignment should provide the right kind of developmental challenge so leaders can grow as fast as possible. Bosses must be willing to take some risks when assigning jobs that stretch new leaders’ abilities.
The Role of Bosses
Every boss must be a mentor and coach, investing energy and care to facilitate high potentials’ development. Bosses are best suited to observe rising leaders in action, ask questions, make suggestions and keep them focused on the right priorities.
A mentor is a highly visible and experienced company executive advising a rising star. Unlike mentors, a coach can be less visible but very much present. Bosses can be coaches to future leaders but may also suggest that an executive coach, drawn from the outside, provide individual support on both personal and business matters to the rising star.
A coach helps the emerging leader own his or her future:
Objectivity: Be sure the direction you choose is the right one.
Wisdom: Become clear in your reasons for going in that direction.
Network: Meet the people needed to get you there.
Every interaction becomes a training opportunity to develop the leader’s growth.
Managing the Leadership Development System
Few companies systematically compile useful information about their leadership resources. They have formal routines for collecting financial data and other indicators, but not for leadership development — the very foundation of business success. Here are the criteria for managing the leadership development process:
- Continually revisit the criteria and methods for identifying leadership talent to remain attuned to external changes
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Assign individuals with leadership talent to a sequence of challenging work that builds capabilities while meeting current organizational needs
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Provide rigorous feedback to speed leaders’ development
- Increase each leader’s visibility within the company to solidify his or her connection with the business and allow other leaders to get to know the individual in depth