3 ways companies should develop leaders—but probably aren’t

[ResidentialBusiness]

As organizations grapple with rapid developments in technology and policy while also balancing shifting market conditions and financial realities, having a deep bench of leadership talent is crucial. However, a recent survey from TalentLMS, found that 45% of managers say their companies aren’t doing enough to develop future leaders.

One of the key issues is that companies are using a narrow scope in offering leadership development opportunities, says Nikhil Arora, CEO of learning technology company Epignosis, the parent company of TalentLMS. “A lot of companies kind of limit the leadership development to the top 1%, leaving behind the remaining 99%,” he says.

Arora says the survey found a number of areas where respondents said their companies are lacking key efforts to develop leaders. Just 8% found their companies’ leadership initiatives effective. Fortunately experts say there are ways to strengthen theses areas of weakness and help companies get better at leadership development.

Develop leaders at all levels

The TalentLMS survey found that the top two areas where leaders found companies lacking were in offering leadership training programs (43%) and developing new talent from within (42%). These stats don’t surprise workplace consultant Melissa Swift, author of Work Here Now: Think Like a Human and Build a Powerhouse Workplace.

She says that one key issue is that companies often focus leadership training on employees who are already in on a leadership track or who are near the top of the organization, overlooking promising talent at other levels. She says that leadership development efforts, including leadership training programs, should be integrated throughout the company and supported.

“One issue that I’ve heard repeatedly across organizations is, ‘You did this wonderful leadership development program with us, but then you don’t have interesting on the job development opportunities for us to follow that up,’” she says. “Companies don’t have to necessarily spend more money on [leadership development], but how do we get people the right experiences through their day-to-day work?”

Focus on the leaders you need

Forty-one percent of respondents said their companies often fail at identifying leadership skills gaps and in being transparent about selecting and promoting leaders. Leadership consultant Lori Mazan, author of Leadership Revolution: The Future of Developing Dynamic Leaders, says that companies need to focus on a few things to get their leadership development programs right.

Mazan advises looking at your overall goals for leaders within your organization and be sure you’re developing a range of leaders with the skills your company needs. Arora agrees. “Your No. 1 [key performance indicator] and what you’re going to be measured by as a manager is going to be: How are you developing your talent?” he says.

Transparency is also important, Mazan says. She also advises developing leaders in alignment with your company culture. She recalls a former client whose culture was very amiable and people focused. When the company hired new employees who had been at a competitor where the culture was very hard-driving, the styles often cause friction. “After a month, they’d be hiring me to coach them, because that style of hard driving leadership didn’t fit in the other company that was more ‘let me help you,’” she recalls.

Mentorship matters

Four in 10 survey respondents said that their companies are lacking mentorship programs. That’s an area that should not only be developed, but expanded, Arora says. Mentoring isn’t just senior managers advising more junior workers anymore, although that still remains important. He encourages others to follow his lead and have younger mentors, as well, who can help them keep a finger on the pulse of where change is happening and what people from their cohort are thinking. “You need somebody younger and you need somebody older,” he says.

Identifying leadership skills gaps and, in response, developing leaders across the organization with programs, transparency, and mentorship can help fill in the missing pieces that hinder leadership development.

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