First things first: Why does my company need a leadership development program?

The directors and other high potential leaders of your organization today are also the future leaders of tomorrow. They need to be well-equipped to take on the current challenges the company is facing, but also be prepared for the new problems that will occur in the future.

Whether you have an executive who is fairly new to their role or if they are a well-seasoned leader, it’s only natural that they will need professional development training over the course of their career. A leadership development plan lays out the steps your company’s developing leaders need to move from point A to point B.

Outlining the various activities, seminars and coaching sessions your leadership needs to grow helps ignite the spark for professional development.

A leadership development plan hones important leadership qualities

A critical part of a leadership development plan is identifying the core competencies your executives need to be ready to take on challenges today, such as:

• Strategic thinking
• Calm under pressure
• Emotional intelligence
• Action-oriented
• Organization
• Delegation
• Self-confidence
• Empathy

Signs it’s time to invest in a leadership development plan

Knowing when it’s time for your leadership to undergo professional development can be difficult, but it oftentimes is considered as part of  succession planning.

Here are a few of the tell-tale signs that a leadership development plan is necessary for unlocking untapped potential in a great leader:

• Leaders are unprepared for change, which can result in missed opportunities.
• Leaders are waiting for direction from above rather than initiating new ideas and solutions to organizational issues
• Revenues or other key metrics plateau. When things become stagnant, it may mean your leadership needs fresh ideas.
• Disconnects between employees and executive management may be a sign your C-suite isn’t creating an environment where open communication is encouraged.
• Experience gaps are apparent among the leadership team, meaning important responsibilities could be falling through the cracks.

What does a leadership development plan look like?

Each organization is unique and needs a leadership development plan to match. However, there are a few key elements that are included in every professional development plan, they are:

• An assessment of your current leadership: This will give you an idea of their strengths and areas for improvement that will be addressed in the plan.
• Clear and measurable development goals: What do you want your leadership to take away from the plan? Do you want them to hone any particular leadership qualities, or do you want them to be reinvigorated and come to the table with new ideas?
• An executive coach: How will your leadership reach this goal? Leadership coaching is essential for pushing them out of their comfort zone and providing them with the resources they need to succeed.

A successful leadership development strategy requires executives and high-potential leaders to be engaged with the program and eager to succeed. An executive coach can be the external motivation and mirror necessary to guide their growth.

The Bailey Group’s Approach to Leadership Development Planning

At the Bailey Group, our unique approach to leadership development planning comes from our expertise in both psychology and business acumen.

Our four-step approach is easy to understand and effective for helping high-potential leaders unlock their potential:

1. Define business and leadership goals together. This includes looking at strengths and weaknesses of the company and identifying areas in need of the most improvement. A solid goal helps the framework for the plan come to fruition.
2. Clarify organizational roles and responsibilities for leadership. Executives and high-potential leaders should not be focused on the day-to-day operations of the company, but the long-term strategy needed to meet goals. 
3. Build powerful relationships between executives and high-potential leaders. Through tests, facilitated workshops and real-life assessments, we foster growth and learning.
4. Measure results using impact and satisfaction data. As your organization and needs change, so can the leadership development plan.

The payoff: Develop your potential leaders

When you invest in a leadership development plan, your organization can benefit from:

• A pipeline of effective and prepared high-potential leaders who are ready to take on responsibility at a moment’s notice.
• Assurance that the next generation of leaders for your organization are in place to continue work toward company goals.
• Greater interaction, cooperation and collaboration among executive leadership.
• A culture that promotes innovation, achievement and risk-taking, which is essential for organizational growth.

Igniting your executive leadership team through a personalized coaching experience brings both physical and intangible returns to your organization. You can calculate the business impact of leadership coaching and development by analyzing the net benefits divided by the direct and indirect costs of the plan. Perhaps more importantly, however, having a cohort of potential leaders ready to fulfill executive roles can positively impact productivity, communication and bench strength that all bring inherent value to your organization.

How do I get started with a leadership development plan?

A leadership development plan is more than simply a checklist for the qualities you desire in future organizational leaders. When you want to prepare or transition high-potential leaders within your company, it’s time to bring in an executive leadership coach.

At The Bailey Group, we understand that every executive’s journey is unique. There is no one-size-fits-all leadership development plan, and that’s why our experienced coaches take the time to understand your organization and its leaders to craft the best path for professional development.

Contact us today to schedule a free consultation to bring your leadership vision to life. We’re looking forward to speaking with you.

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