Helping your team establish leadership professional development plans and opportunities enables them to take ownership of their personal development—whether that’s through mentoring, skills assessment programs, online learning, or in-house development.
These leadership development techniques can help you nurture the next generation of star performers and develop future company leadership teams. They also present an opportunity to develop an individual’s ability to contribute to the company’s revenue and performance overall.
Employees seeking professional development opportunities will expect feedback and answers to questions like:
If you can answer these questions and mark the learning milestones of your talent, you will retain and develop your employees into leaders over time. That’s good news for getting succession planning right.
A leadership development program is a comprehensive plan that supports the growth of an employee into a predetermined leadership role. This strategy cultivates the specific qualities for serving the leadership position within the company.
An effective leadership development program actively encourages employee growth in line with larger company objectives and is key to long-term organizational success.
Follow this simple 5-step process to build the framework for an effective leadership development program.
Outline a set of specific qualities and skills that will best serve the role you want to develop. Make sure it’s comprehensive and helps candidates contribute to achieving your organization’s goals.
Evaluate your employees’ strengths and weaknesses in the context of the desired leadership role. Keep a list of any employees whose skill set already play into the potential leadership role.
Many components of your leadership development plan will be unique to the employee completing it and the leadership role they’re preparing for. However, you should have a basic set of guidelines in place for posterity’s sake, to measure growth, and to chart progress over time. Your leadership plan may change over time, but some core tenets may remain. It’s always good practice to see how your roles and requirements for positions change with time to meet the demands of your company, as well as your industry’s evolution.
Development doesn’t stop when an employee completes the program. It’s important to routinely put the employee in situations to hone their skills and give them opportunities for applying said skills.
Keep tabs on employees who complete the leadership development program. Track their promotions and gather feedback on how well they display and further develop the leadership qualities they were trained for.
Leadership development programs take time and effort. HR software that can tell you who is performing, who was recently promoted, and who exceeds expectations will help you keep track of star performers.
After weathering COVID disruptions, Canadian businesses were poised for a comeback, but now many are stumbling to meet new demands from the workforce. This is according to a newly commissioned report from Sage and the Angus Reid Group, Forward Together: Building a Resilient Future. The report uncovers new insights into the current hiring challenges among […]
Cloud ERP platforms have enabled mid-market organizations to be competitive and punch above their weight with a suite of financial management solutions and applications. Among the many benefits, cloud ERPs offer a scalable platform with scads of features and integrations, improve financial efficiency and visibility, strengthen data security for financial information, and decrease Information Technology […]
Business intelligence (BI) is a vital tool in the CFO’s toolkit. Accurate and easily-accessible financial data allows you to understand what’s happening with business-critical metrics such as profit margin and cash flow. For those businesses that have already incorporated BI into their operations, it allows them to continue to make data-driven decisions, but it’s a […]
Since 1983, Ronald McDonald House BC & Yukon (RMH BC & Yukon) has provided accommodations and support for families from more than 200 communities across British Columbia and Yukon Territory while their kids receive specialized medical care that can only be found at Vancouver’s BC Children’s Hospital. Over the years, it isn’t just the House […]
Dated technology creates serious barriers for public benefit and quasi-governmental organizations (QGOs) already facing increased demand for services and the need to comply with changing government regulations. In a recent survey conducted by Sage Intacct, finance leaders within nonprofits and QGOs shared the internal frustrations that were serious barriers to achieving their goals. The top […]
Achieving a state of accurate, consistent, and timely financial reporting is not without its challenges. Certainly, for professional services firms with fluctuating demand, new market opportunities and Paycheck Protection Program (PPP) reporting needs, financial reporting is vastly more complex and often includes a “need it yesterday” deadline. Tanya Yakhnis (CFO of Tandem Family of Companies) […]
Discover why accountants should offer business advisory services and check out the five steps to deliver them to clients.
Your client's poverty mindset is sabotaging their business success. We'll teach you how to support them to achieve a positive money mindset.
