Focusing In On High-Potential Leaders

1/6/2015

The best way for companies to secure strong leadership for the future is to look to their current talent pool. That means focusing inward, identifying the high-potential leaders who already work within the company, and then offering them development opportunities in order to sharpen their skills and business acumen.

Not only do development programs help companies hone the talent they already have, but offering such initiatives increases the retention rate of high-potential leaders. Indeed, according to Development Dimensions International in its 2015 Global Leadership Forecast, one of the best ways to retain high-potential leaders is to provide them with high-quality development programs. When DDI interviewed leaders dubbed high potential by their supervisors, those with strongly supported programs were half as likely to leave their company within the next 12 months as those whose organizations had weak programs. This was consistent with the findings in Deloitte Consulting’s Predictions for 2015 Report. According to Deloitte, companies that spend 50 to 75 percent more than their peers on leadership development see three to four times higher levels of engagement and performance.  

So what makes a program strong? According to DDI, among the most impactful skills to include in leadership development programs are coaching and mentoring. Another feature to keep in mind is using mixed mediums in leadership development programs. Deloitte recommends not only conducting classroom learning, but also leveraging online platforms, which can be accessed from different kinds of devices anywhere in the world. 

This is where TMC and the Cultural Navigator come in. TMC offers learning and development programs that can be customized to the needs and goals of any organization, as well as a portfolio of assessments that companies can use to help their employees gain awareness of their work-style preferences, which in turn helps them communicate and collaborate with others. In addition, the Cultural Navigator online learning platform hosts a plethora of activities on a number of subjects relevant to adult learning, including coaching and mentoring.

In order to develop their leaders with the most potential, and to increase the chances of them staying with the organization, companies must supply strong development programs. Leveraging the solutions offered by TMC and the Cultural Navigator can help these companies maximize their current talent’s leadership potential.