Growing leaders is the life blood of an organization. Successful organizations fill a pipeline full of the right potential leaders.
I provide leadership consulting to a number of organizations. I find that many don't have a competency-based succession management program. Top leadership frequently assesses an incomplete
list of leadership competencies when determining future leaders.
How effective are you at spotting high potential future leaders?
Most companies have a faulty idea of what a leader really is and does. Executives focus on an incomplete list of personal traits, which hampers them when attempting to spot real leadership talent early on.
Young executives who are smart, creative and financially adept command attention and respect. They combine their mental abilities with a strong work ethic and drive to achieve. They often get promoted quickly, but they may actually lack the right leadership traits.
The best performers are usually the most visible, but they don’t necessarily have leadership essentials. Many execs confuse the two issues and identify the wrong people as high potential.
Many of the personality traits and capabilities associated with leadership in the past are insufficient today. You must identify other indications that a person can succeed in leading a business unit or whole company in an emerging business context.
As with DNA, two strands of a helix fuel business leaders’ inner engine:
1. People acumen: the ability to harness others’ energy
2. Business acumen: understanding how a business makes money
When future leaders are in their 20s, these strands are already in place. Every company has leadership talent, but spotting it is critical to identifying leadership potential.
How adept are you at spotting leadership potential?
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