Great leaders inspire others with their values and their behaviours. They set an example for others to follow and help to shape the direction of an organisation.
Building a strong leadership pipeline to support and grow tomorrow’s great leaders is critical for any organisation to ensure a robust succession plan and growth.
While mentoring and coaching programs are a must, many initiatives tend to focus on technical skills (IQ) required in an early career with not enough focus on developing the leadership and professional skills (EQ) of young talent.
Leadership development should not be seen as an exclusive skillset for managers and leaders, but also for young talent right at the start of their careers.
Developing these skills early on has many benefits to a business from a commercial perspective, as well as helping to build a robust leadership pipeline full of young talent. Organisation.
A Deep Understanding of Values - Self and Corporate
Future leaders need a deep understanding of what their values are and how these values align with an organisation’s values and way of doing business.
Living the values isn’t always easy, especially in a challenging business environment, but it’s right.
As such, a strong focus on values and resilience are key for any future leader as part of a Corporate Training and Development plan.
According to a survey conducted by PwC, "Millennials place a greater emphasis on social, environmental, and ethical issues than previous generations, and they're more likely to choose an employer based on its reputation for CSR (corporate social responsibility).
They're also more likely to refuse a job based on a company's record on sustainability." This means that values-driven leadership is increasingly important for attracting and retaining top talent.
Emotional Intelligence (EQ)
Enabling young talent to better recognize how their emotions and behaviours in the workplace impact on both themselves and others is arguably the most important skill to have.
Core skills such as communication, teamwork, and relationships are enhanced by a deeper understanding of EQ, and as such, EQ should be a fundamental element of any future leader development initiative.
Research conducted by TalentSmart found that "90% of high performers have high EQs, and people with high EQs make $29,000 more annually than those with low EQs." This demonstrates the significant impact that EQ has on an individual's career and earning potential.
Effective Communication Skills
Effective communication is not all about what is said. Active listening is just as important, as is interpreting and responding to body language and social cues.
This may seem common sense and possibly obvious to most, but we should not underestimate the impact COVID-19 and lockdowns have had on young talent and their communication skillset. Building such vital skills is a must for any future leader as part of their early careers program.
Research conducted by LinkedIn found that "soft skills such as communication, creativity, and collaboration are in high demand."
Furthermore, "the top 5 most in-demand soft skills for 2021 are creativity, persuasion, collaboration, adaptability, and emotional intelligence." This highlights the importance of effective communication skills in today's workplace.
Google's Leadership Development Program: Creating a Culture of Innovation and Growth
Google is a company that is well known for its leadership development programs, and for good reason. The company invests heavily in developing its people, and it shows.
The Google Leadership Academy is a program that is designed to help employees develop their leadership skills, regardless of their role or level within the organisation.
The program consists of three main components: learning, practice, and feedback. Participants attend a series of workshops and training sessions where they learn about leadership theory and practice.
They then have the opportunity to put these skills into practice through real-world projects and challenges. Finally, they receive feedback and coaching from experienced leaders within the company.
The Google Leadership Academy has been a resounding success, with participants reporting significant improvements in their leadership skills, including communication, empathy, and strategic thinking.
The program has also helped to create a culture of leadership and innovation at Google, with many of the company's most successful products and projects being led by program alumni.
Survey Shows Millennials Need More Leadership Development, Strong Programs Key to Business Growth
According to a recent survey by Deloitte, over 50% of millennials report feeling unprepared for the leadership roles they aspire to. This highlights the need for more focus on leadership development for young talent.
Moreover, the same survey found that organisations with strong leadership development programs in place were twice as likely to be considered "innovative" by their employees.
Similarly, a study by the Harvard Business Review found that companies with well-developed leadership pipelines have 70% higher revenue growth than companies without them.
How PwC is Developing Future Leaders
PwC, a leading global professional services firm, has implemented a comprehensive leadership development program to identify and nurture future leaders within the organisation. The program includes the following components:
- Leadership development programs tailored to the needs of different employee levels, from entry-level to senior management.
- A mentoring program that pairs high-potential employees with experienced leaders within the organisation.
- Regular feedback and coaching to help employees develop their skills and identify areas for improvement.
- Opportunities for cross-functional collaboration to develop a broader understanding of the business and build relationships across different departments.
- A focus on diversity and inclusion to ensure that future leaders reflect the diversity of the organisation's workforce and customer base.
The program has been highly successful, with over 80% of PwC's senior leaders having progressed through the organisation's leadership development program.
MDA Training: Helping Organisations Develop Future Leaders
MDA Training provides corporate training and development solutions, with a focus on leadership development programs that identify and develop future leaders.
Our approach is centred around three key areas: values and resilience, emotional intelligence, and effective communication.
MDA's tailored programs offer practical, hands-on learning that can be applied in the workplace through a mix of classroom-based training, mentoring and coaching, and experiential learning.
The experienced trainers and coaches at MDA are dedicated to helping organizations build a strong leadership pipeline.
Conclusion:
Building a strong leadership pipeline is critical for any organisation that wants to ensure long-term success and growth.
By investing in the development of young talent, organisations can build a robust succession plan and ensure that the next generation of leaders is aligned with the organisation's values and strategy.
Leadership development should not be seen as an exclusive skillset for managers and leaders, but also for young talent right at the start of their careers.
Developing these skills early on has many benefits to a business from a commercial perspective, as well as helping to build a robust leadership pipeline full of young talent.
MDA Training can help organisations develop the next generation of leaders by providing tailored leadership development programs that focus on values and resilience, emotional intelligence, and effective communication.
Get in touch with MDA trainers today to learn more about how they can help your organisation build a strong leadership pipeline.