The success of a management training program will most likely predict the success of an organization’s future.
We all know that our baby boomer managers and leaders are fast moving into retirement. That would mean one thing. Companies, like yours, are fast losing institutional knowledge and experience.
Don’t fret. There is still time for you to send your high potential management candidates in management training programs.
In a 2014 survey from Deloitte, 86% of business leaders know that their organization depends on the effectiveness of their leadership pipelines.
However, only a few of these companies are confident in their succession plans, because a lot of companies are now experiencing talent shortages.
Company owners agree that succession is an essential part of strategic planning. Problem is many companies have ignored leadership development because they have exerted more time in focusing on immediate challenges. Thus, they fail to identify and develop their next generation leaders.
Here are some tips to determine the success of a management training program
1.Establish a set of clear and defined leadership competencies.
Your training department and most of all your managers should know whom to fast track for leadership.
Identify specific leadership skills and behaviors that your company needs to successfully implement the company strategy. Ensure that these metrics are communicated well to all stakeholders, as you do not want to miss out on your top talent.
There is no one size fits all management training programs. When planning a leadership initiative, companies should identify the purpose of the management training program. Oftentimes, companies fail to determine its purpose, thus leading to failure.
Training managers must focus on context. This means that we focus on equipping your company’s next generation leaders with a small number of competencies, rather than target everything that is on your list of leadership standards, and a multitude of competencies.
There is a high probability of success when we determine the leadership capabilities that are essential to our organization’s success. Some examples of these competencies could be high-quality decision making or perhaps excellent coaching skills, which can achieve great results.
2.Fast track management training programs for high potential talents.
Leadership development is most effective when high-potential candidates are identified as such. Organizations must be transparent if they have eyed someone for leadership positions in the future. The organization must also be clear on how much investment they will be putting in to train such talent. Investments can be in the form of rewards, incentives, promotions or special assignments.
Allowing them to undergo mentoring and coaching from highly knowledgeable and experienced managers. Give these high-potential talent special assignments that are tied to the overall business strategy of the organization. Give them feedback as they go along so that they know how much they have contributed and know where they can still contribute the most.
3.Measure their performance and growth.
Depending on the leadership competencies that you have determined, you can set goals for each stage of development to help them be on track. Measurements can be in the form of problem-solving, decision making styles or their level of emotional intelligence.
Organizations which fail to create management training programs, will lose top talent along the way. As undervalued talent, will consider heading elsewhere where their talent can be recognized.
Need guidance to bring out the best in your company? Contact Benchmark Consulting, the country’s premiere coaching, training, and leadership development company, at (02) 812 7177 or email us at firstname.lastname@example.org.