Leadership is all about managing change. And in this disruptive world, where new organizations giving stiff competition to larger organizations, leaders are also facing challenges with regard to being more agile in their approach to innovating new processes. While everyone talks about employee training and development, what doesn’t get enough attention is leadership learning. With multigenerational workforce, the expectations of the leaders are also undergoing paradigm change in their leadership styles. Employees want more transparency from them, it’s not about profit anymore. Millennials want to know what’s the purpose of the organization.
With this multigenerational workforce coming into the picture, organizations have a bigger picture in mind. What they don’t want to miss out in this competition is talent. And there is a dearth of good talent. And newer workforce doesn’t believe in just lip-service. Having an L&D programme in the agenda but not working on it or measuring its success is not what they want. They want proper validation of their beliefs that they have for the organization.
There are new business challenges and there is a renewed emphasis on how we can retain employees. There aren’t enough managers who can lead since the consumer behaviour is also changing. Now-a-days leaders need to be self-aware, connect and engage and be resilient.
So what do top companies do differently? There are 5 steps to keep in mind.
- Align with strategy
- Build inter-connectedness
- Future proof capability, consistent yardstick
- Curate individual experience, deliver in purpose
- Sustain and measure
96% of top companies believe that leaders partner for coaching and mentoring conversations.
The latter is a far more intriguing aspect for your companies to succeed in the long run. For seamless execution, there are certain time-tested differentiators which can be used to measure – metrics, leadership strategy and accountability, attracting leaders, leadership assessment, succession management, high potentials, leadership development, high potentials.
However, the point is not what you do for the leadership development, but how you do it.
(This article is based on the session Changing paradigm of leadership development by Nitin Sethi, Aon Hewitt at thr L&D League Annual Conference 2016)