Developing Leaders Reaches a Crisis Point
A 2010 McKinsey study predicted that by 2018 25% of the workforce in the insurance industry would be eligible for retirement. Look around you. This challenge is not unique to the insurance industry. How deep is your leadership bench? Are those on your bench prepared to lead your organization to thrive and succeed? Preparing a leader is not as simple as sending them to a training program or choosing people that are good at what they currently do. Solid preparation is a blend of stretch experiences and personalized coaching combined with focused training.
Top high-potential employees need challenging stretch assignments and the expertise of a coach that understands what they are facing in the challenging business world every day. As a 27-year veteran of the commercial insurance industry in key leadership roles, I see that the traditional approach to delegate leadership development or succession planning to HR is not the solution. Today’s HR professionals manage an ever increasingly complex regulatory compliance environment. Not only does it limit today’s HR professionals time capability but it also exacerbates the impending leadership crisis. Most professionals in HR want to be a part of the solution, but they run into daily time and resource limitations.
Many organizations have succession plans in their HR systems or on-file, but the managers of high-potential colleagues tagged in those plans struggle with time and resources to develop their people. Providing targeted resources to high-potential leaders is essential now more than ever. It’s time to rapidly change your leadership succession plans into a reality while preparing those leaders. For those that have not started their succession planning, sorting out where to start can be overwhelming.
Tomorrow’s leaders need to understand how to manage people, financials (P&L’s), processes and clients based on real-world expertise. The typical theoretical approach to leadership will fall short. Real-life, in the trenches experience coupled with an insightful couch, will deliver time-sensitive practical solutions companies need. The hard and soft skills required to lead cannot be taught only in a classroom. Developing leaders must have support as they change behaviors while developing expertise.
When you are ready to easily develop your high-potential colleagues and see stronger business results right away leaders partner with you for a strong future contact me. email@example.com