Executives at your organization will inevitably leave your company at some point in time, whether through traditional attrition, retirement or simply to change places within your company. The question is, do you have a plan to replace them? Do you know how important succession plans are?
In a recent study, 83% of organizations said it’s important to develop leadership at all levels, but only 5% have implemented development programs. Of the 5% of developing leaders, many of them find themselves falling short of expectations.
Leadership development programs are often overlooked, leaving company leaders floundering for a way to rise in their departments.
When we think of what makes a great leader, many adjectives pop into our heads: honest, focused, passionate, respectful, persuasive, confident. One of the most underrated aspects of leadership, though, includes a firm grasp on psychology. When leaders can understand beyond just the symptoms of issues i.e. reasons employees are procrastinating, or coming up short in their deliverables every week, showing up late and so on, we can adjust the way we address and coach them long-term. This is more than just recognizing a problem in your team, addressing it and calling it a day. This is taking a look at your team, understanding the core of rising issues, addressing them, but also addressing the way you are running the office.
What makes top employee training programs “top” material? The question poses many different perspectives on the subject, but the one that stands out the most is how the best employee training programs become so great. What goes into their creation? Their development? Their implementation?
You’re already painfully aware that you need amazing leadership in your company. After all, with Baby Boomers heading into retirement in droves (about 10,000 a day), you are keenly attuned to the fact that leadership impacts succession planning, growth, retention and so much more. But with the changing shifts in the workforce and accelerating demands on everyone’s time, how do you develop leaders from employees?
Feedback is a skill! All great performance is shaped by good feedback, but how we deliver that feedback may impact our future ability to influence others in a positive way. Great leaders are intentional about how they deliver information about performance and realize the effective feedback is an essential skill for leaders to learn and develop others to higher levels of excellence.
The Real Problem with Performance Reviews
While many organizations are considering getting rid of the traditional annual performance review, very few have a solution to effectively evaluate performance as a viable business skill. The move away from annual performance reviews may save leaders and employees headaches, but it hasn’t solved the problem of evaluating and recognizing good performance.