How do you build the leadership bench strength critical to overcoming tomorrow’s challenges and ensuring future growth?
This challenge is a pressing concern for leading companies across industries and geographies. In some ways, it is no surprise given the high stakes.
Strong leadership is the lynchpin of business success, and developing future executives from among the high potential ranks is critical to sustaining competitive advantage long-term.
This conventional logic is seemingly straightforward, but translating high potential development into action is much more difficult, yet critically important. Research indicates that organizations focused on identifying and developing high potential leaders are seven times more effective at achieving improved business and talent results.
Accelerating the Development of High Potential Leaders
Before designing a high potential development initiative, organizations must start by defining the desired results and end-goals. Once the objectives are clear, the challenge becomes how to deliver a high potential program that realizes the expected impact.
Ten critical components of high potential programs have proven effective for companies across industries, including:
- Engage Peers & Executives
- Create Immersive, Discovery-Based Experiences
- Incorporate an Assessment Component & Feedback Loop
- Make it Real with Action Learning
- Involve Stakeholders to Create an Inter- or Intra-Industry Perspective
- Immerse Leaders in the Field, Challenging them to Look Through Different Eyes
- Bring in a "Big Brain"
- Connect Personal Leadership Brands to the Company’s Brand
- Consider the Current State of the Business vs. the Future State
- Build Commitment through Action Plans
To learn more about the critical components to high potential development, download the white paper above.