Executive Development requires a planned and structured approach. It must be a priority within the company, along with a willingness to be “future focused.”
First, assess potential candidates and their skills. This does not mean just giving them a standardized test and being done with it. Although this type of assessment tool can be useful, there are also many qualitative aspects to keep in mind. How do the prospective young executives handle change? Do they keep a positive attitude while serving as quasi-change agents for their particular departments? Do they show initiative? Are they risk takers and good stewards of company finances?
Be sure to scour the organization for potential leaders. Don’t just consider middle management, but look all the way down the rung to the mailroom. Who is an effective leader? Who inspires? Who has vision and is capable of rallying those around them? These are the vital tangibles that are at the core of executive leadership.
Next, provide hands-on learning opportunities and developmental experiences through action-learning programs. Have your up-and-coming leaders spend time with other executives. Give them additional responsibilities along with added coaching. This allows candidates to develop problem-solving skills and learn more of what it takes to be an effective leader.
Finally, monitor the progress of your leaders-in-training. This should be based on measurable competencies and leadership qualities rather than simply charisma. Any measurement or analysis should be both qualitative and quantitative in nature.