Dan Loichinger | Loichinger Advantage LLC
Organizations and businesses have adjusted to be more responsive to economic and customer changes and agile is one of new terms we hear. Given marketplace pressures, organization structure, strategy and skills are more dynamic and changing as well. The roadmap and leadership required have all drastically changed.
If the world around us in flux, we have to modify who and how we develop leaders required for a new marketplace. What are organizations doing to develop these new leaders, and engage them in traveling from Good to Great?
At the Top 20 companies of the Hay Groups Best Companies for Leadership, flexibility to respond to economic changes was identified as a top challenge for leaders over the next 12 months, along with the ability to capitalize on opportunities within emerging markets.
- Targeted Selection: Instead of ‘sheep dipping’ every manager and executive who has a title, organizations are taking a more strategic view of leadership, and looking at the strategic opportunities and challenges, and selecting individuals who are ready to address those challenges. Fewer, but more committed leaders being groomed for the future.
- CEO & Executive Team Engagement: Many of our companies have human resource or training staff that oversee the work for developing next generation leadership. The best have a CEO and senior management team who not only lead and champion the effort, but also model what is expected for others.
- Executive Coaching | Development Choice: More and more companies are offering leaders executive coaches and a variety of methods to develop their overall leadership talent. These leaders often commit to a development path and set of goals, focus effort on targeted skills, and demonstrate results at a higher degree than people going through workshops alone. Simulations, mentoring, mastermind groups and assessments can also be used as a part of the solution.
- Peer Roundtables: Individual leaders from different areas of the company, or different companies, are brought together periodically to hear speakers, move towards challenges, and roll their sleeves up on challenges that make them more effective leaders.
5. On-the-Job Application:
“Outstanding companies are recognizing that developing strategic, globally connected leaders for the future means they have to make investments to bring leaders together to learn as a community, while using the very best technologies to connect people globally and bring learning back to their teams and organizations,” said Rick Lash, director in Hay Group's Leadership and Talent practice.
When coaching, I often design stretch assignments or projects that are next step opportunities for the person, and real challenges for the organizations to solve. My coaching involves planning, guiding and offering resources, and the real work and monitoring are happening real time, with real teams. Learning and coaching are therefore relevant and real, not conceptual.
Chief Executive and Fortune magazines track and publish companies who take the commitment to developing organization and next generation leadership seriously. These are not the companies who are training a handful of people who ask to go to local workshops, but are companies who have a formal leadership development process in place, a CEO who champions leadership development that leads to measurable growth.
Many of us are measuring employee engagement, but are we doing justice to leadership engagement? Those who do, have a head start, and are intentionally moving from Good to Great.
Dan Loichinger is an executive coach for Loichinger Advantage LLC, and Chairman of executive roundtables for TEC, an operating group of Vistage Worldwide. We were recently honored to be named to the 2016 In Business Executive Choice Awards, as a finalist in the Management Training Company category.