It is important to be strategic about your leadership pipeline.
Talent is essential to performance.
But leaders are busy producing results. Hence too many leaders, particularly in SMEs and privately-owned companies, lack sufficient time to develop and hone their people leadership and coaching skills.
There is no doubt that leading for results is important. But so is knowing how to lead people effectively and motivationally to obtain your desired results. This is not an either/or proposition. Caliente Leadership understands the need to turn good managers into great leaders.
That’s why we created our proven three-pillar approach for Leadership Development:
- Leadership Mindset
- Leading People
- Leading for Results
Part of this Leadership Mindset means inculcating these words of wisdom from famed GE CEO Jack Welch into one’s personal leadership philosophy, “Before you become a leader, success is all about growing yourself. When you become a leader success is all about growing others.”
But just training your senior leadership team in these best-practice skills is only half the solution. The other half is ensuring you have developed the right leadership pipeline to ensure the future growth of your company.
Building Your Leadership Pipeline
Successful company leaders know that it is equally important to be strategic about their leadership pipeline as they are about their company’s physical assets, finances, business models, and marketing strategies.
After all, as Ralph Nader pointed out, “the function of leadership is to produce more leaders, not more followers.”
In the U.S. the average annual turnover rate of management positions is roughly 25%. Many of these organizations, including most fast-growing and privately-owned companies, are forced to fill their new leadership positions through external recruitment, simply because they have not developed the bench strength of leaders with requisite skills to enable internal succession planning. This is a costly strategy, one which also demotivates the current leadership team as they witness new hires taking the roles and responsibilities they desire.
To read more on this topic, download our free article Leadership Pipeline Mistakes of SMEs.