A 2010 McKinsey study predicted that by 2018 25% of the workforce in the insurance industry would be eligible for retirement. This talent drain occurred as predicted. Look around you. This challenge is not unique to the insurance industry.
How deep is your leadership bench?
Are those on your bench prepared to lead your organization to thrive and succeed? Preparing leaders is not a simple as sending people to a training program or choosing people that are good at what they currently do. Solid preparation is a blend of stretch experiences and personalized coaching combined with focused training.
HR Takes Care of It – Really?
Top high-potential employees need challenging stretch assignments and the expertise of a coach/trainer that understands what they are facing in the challenging business world every day. As a 27-year veteran of Fortune 500 firms in crucial leadership roles, I see that the traditional approach to delegate leadership development or succession planning to HR is not the solution. Today’s HR professionals manage an ever increasingly complex regulatory compliance environment. HR professionals feel the crunch of not having enough bandwidth. It is a vicious cycle that exacerbates the impending leadership crisis.
Many organizations have succession plans in their HR systems or on-file. The managers of your high-potential colleagues tagged in those plans struggle with time and resources to develop their people. Providing experts with time and experience as successful leaders will develop your high-potential leaders now. For those that have not started their succession planning, sorting out where to begin can be overwhelming.
What Do Tomorrow’s Leaders Need Now?
Tomorrow’s leaders need to understand how to manage people, financials (P&L’s), processes, and clients based on real-world expertise. The typical theoretical approach to leadership will fall short. Real-life, in the trenches experience, coupled with an insightful couching, delivers the time-sensitive solutions you need. Both hard and soft skills required to lead cannot be taught only in a classroom. Developing leaders must have support as they change behaviors while developing expertise.
When you are ready to experience solid business results while your high-potentials transform into influential leaders, contact KM Leadership Solutions.