Are your leaders ready to take the helm? If not, then it’s time to build them up with the right training and development programs. Our article explains how budget constraints, changing leadership skills, and diverse learning needs hinder the development of agile leaders. We will also explore the methods for building these programs. Lastly, we will show you how TalentPulse how to develop future leaders. From identifying high-potential employees to customising their development paths, TalentPulse offers tools that make your leadership development a breeze.
Life in the Fast Lane: Why Developing Agile Leaders is a Must
As technology and market dynamics continue to change rapidly, businesses need leaders who are both agile and innovative. The clock is ticking for companies to find and nurture future leaders who can confidently navigate these twists and turns and drive growth.
According to Brimco:
- 63% of companies say that developing next-generation leaders is one of their top challenges.
- Companies that do this are 12 times more likely to achieve strong business results and see 2.3 times more cash flow.
However, leadership coach and author Thomas Griffin found that only 29% of companies train for the mandatory skills of modern leadership. This leaves many companies with leadership pipelines that are not ready for prime time.
Time to invest in solid training and development programs to build a strong leadership pipeline. But there are some potential challenges you could encounter along the way.
Challenges of Building Your Training and Development Programs
Creating effective training programs demands a substantial investment of time, money, and human resources. Let’s face it, money doesn’t grow on trees. For many companies, juggling these demands can be tricky. Without proper management, it can result in underfunded training programs that fall short of delivering the desired outcomes.
Speaking of outcomes, failing to identify the specific skills and knowledge employees need for their roles can also lead to poor results. Companies must ensure their training programs are aligned with the specific requirements of their employees’ jobs. Otherwise, they can run the risk of disengagement, ineffective training, and wasted resources.
What makes a great leader today might not cut it tomorrow. As leadership requirements change rapidly, leaders need to continuously adapt to changing circumstances. This makes it difficult to keep training programs up to date. Outdated programs can result in companies developing leaders who are unprepared to meet modern challenges.
How can TalentPulse Help You?
There will always be challenges when building new programs, but there are also ways around them. Here are two methods you can leverage on TalentPulse to overcome these obstacles:
High-Potential (HiPo) Identification
Think of HiPo Identification as the talent scout of your organisation. These programs are designed to spot the stars among your teams. Investing in HiPo identification means you’re planning for leadership continuity and fostering a culture of recognition and development.
Our HiPo identification method on TalentPulse uses the 9-box plot chart to visualise the placement of employees in terms of their performance versus potential.
For example, individuals in box 4 exhibit high potential and are ideal candidates for development into leadership roles. This system allows managers to strategically plan development interventions and to tailor coaching or training programs to individual needs.
Succession Planning Assessments
Succession planning assessments are like a crystal ball for identifying future leaders. With TalentPulse, you gain access to a suite of tools designed for succession planning.
These tools help identify and nurture potential successors, ensuring a seamless transition when key positions vacant. Investing in these assessments strengthens your leadership pipeline, minimises disruptions, and sets your company up for success.
You can also assess the roles by examining their readiness level and predicted role fit.
- Readiness level measures an employee’s preparedness to transition into a new role, based on their existing skills, experience, and development journey.
- Predicted role fit evaluates how closely an employee’s competencies, behaviours, and values match the requirements of a particular role.
These indicators offer valuable insights into an employee’s likelihood of success in a role, enabling you to strategically prioritise them in your succession planning initiatives.
Conclusion
Keeping your company’s operations running smoothly hinges on identifying and cultivating leaders for critical roles. Having a clear strategy for leadership development enables you to navigate evolving needs, complex organisational structures, and inevitable operational challenges. Interested in training and developing your future leaders? Book a demo with us to learn how TalentPulse can enhance your leadership development efforts!
Page Contents
