As an organisation, knowing how to grow leaders from your talent pool is essential for succession planning and business growth.
Organisations with high quality leaders are far more likely to outperform their competition in areas such as financial performance, service, employee engagement and customer satisfaction. Knowing how to grow leaders from within the organisation is key. Having excellence right at the top will set the best example and will drive the business forward.
But how do you attract and retain such talent? And is it possible to grow it from within? Here are 6 tips to help develop leaders within your business:
1. Identify & develop leaders early
Carrying out a forecasting exercise such as succession planning will help a business to identify and cultivate its future leadership. Such a process will identify any leaders who may be likely to leave, or determine any high-risk gaps – and then ascertain who from within the business could potentially replace them. This will help a business to put strategies into place to then develop future leaders who can be readied to step up.
Through an effective appraisal process you can discover which employees could be identified for potential future leadership positions and enable them to achieve it.
2. Training employees
Another way to develop future leaders is by constantly providing the workforce with easy access to education and training required to become a leader. This could be accomplished by having employees attend webinars, conferences, courses or classes to help them refine and advance their leadership skills.
3. Coaching & mentoring
Allowing current leaders to develop and coach likely new leaders will help nurture talent and help to create a culture of progression and promotion. It also develops networks and relationships that could then be essential for the future of the business.
By providing information and feedback on available leadership positions when they arise will help to motivate employees. This could be via the appraisal process but it is also good practice to have these discussions as part of informal chats too. People get incredibly frustrated when they feel as though they are ‘passed up’ for opportunity. Whilst they might not be the best person for the job at that point, good communication and support will help to retain the employee and develop them over time.
5. Provide support
Whilst you want to challenge employees and encourage them to get out of their comfort zones, you also need to make sure that you give them the proper support whenever assigning new tasks. This can be done by encouraging them yourself, directing them to someone who can help, providing them with the right support and frequently evaluating their work.
6. Inspire employees
The best leaders inspire others to become leaders just from their passion. Employees will take a little bit of that passion and it will grow within them. Develop passion in your employees and they will become the biggest factors in the success of your business.