What is the role of leadership development in today’s business scenario?

Over the last few years, the business environment has undergone a paradigm change. People have moved on to bigger responsibilities at a very fast pace, however, they have not developed the required competencies at the pace that is required. Leadership development, a capital investment, especially in challenging times motivates people to develop and enhance their capabilities. It is similar to what happens in the armed forces, one gets a medal only when one fights a war, otherwise everyone is a self proclaimed hero!

Development in its true essence is not only about bridging gaps, it is also about enhancing one’s capabilities. The irony is that most of us are not only unaware of our shortcomings; we are also ignorant of our strengths.

In your opinion, how critical is leadership assessment?

Leadership assessment provides clarity of direction, which is relevant to the learning and development of leaders. It helps people understand their strengths and weaknesses. This further makes them ponder over the question as to what should be done about it. That is where the learning eventually starts.

Does leadership development impact business outcome? If yes, then how?

I think there is a huge impact on business outcome. Development is more about repeatability of success. It is more about consistency and conviction from within the individual. During a leadership development process, individuals are given a challenging project to handle and the fact that they complete the same is a ROI in itself. Once the leaders have honed the required skills, their ability to repeat success is much higher. Having proven their capability, it is easier for organizations to assign them with additional roles and responsibilities, which otherwise would have resulted in hiring a new person.

What are the emerging practices in leadership development in India?

Organizations are increasingly adapting the use of technology in developing their leaders. Earlier, an action learning project was primarily on pen and paper, and there was no concept of real-time sharing. Now with technology, one is able to get real-time development inputs. Companies are recognizing that leadership development is not just a one-time process, it requires continuous investment. Hence, companies are looking at vital few people at each level to make them ‘engines of growth’ based on their performance and assessment. Efforts are then made to develop the selected few. Another trend to watch out for is the involvement of the senior management in the development process. It is no longer only an HR issue; it is more of a business agenda. Finally, there is no cookie-cutter approach that one can adopt. Each person is different and it is all about finding out what can stimulate a person’s learning.