What is a Leadership Development Plan?
OncA leadership development plan is a detailed plan to train and hone leadership skills of current employees and allows for individuals to advance into leadership positions within an organization. Often a leadership development plan for managers includes formal classroom-style training over a set period of time that ranges from months up to a year.
Individual development plan ideas may include execute coaching, reflective journaling, constructive feedback, coursework, or mentoring. Implementation of a leadership development plan helps organizations prepare and adapt for the eventual step down or retirement of existing leadership. Currently, 77% of organizations experience a leadership gap and 89% of surveyed executives believe that strengthening organizational leadership should be a top priority. However, 63% of millennials believe their leadership potential is not being fully developed. Leadership development goals and action planning for organizations can realign these leadership priorities. Additionally, 81% of employees who report to recently trained managers are more engaged in their jobs, further emphasizing the importance of proper leadership development.
The Advantages of Excellent Leadership Development Training
There are many advantages to excellent leadership development training. While many unanticipated advantages can arise from executing a leadership development plan, below are a list of the best qualities upon completion of a leadership development plan checklist:
1. Increased productivity
Properly trained leaders in an organization know how to get the best performance out of their people. They’re able to understand different personality types and how each one best thrives in a work environment. A development plan example would be recognizing when to let an introvert work alone or in a small group to maximize their output, or putting an extrovert in charge of a group of younger teammates to get them riled up. These are both examples of good leadership training. Good leaders are also empathetic, engaging, and willing to go the extra mile with their employees when need be. As a result, employees led by strong leadership are more invested in their project and their jobs, creating a win-win for all involved.
2. Retained workforce
Employees who work under poor leadership have a harder time staying motivated. Even if they like the work they’re doing, it’s inevitably bound to not be their best. As a result, employees start leeching away in search of a more rewarding job that offers better leadership. Conversely, strong leadership keeps employees motivated and engaged in their work. Others will flock to strong leadership and stay put.
3. Invest in your organization’s future
Great organizations strategize and plan for leadership succession. It can be tempting to give the top job opportunities to the most forward employees with dominant personalities, but these candidates may not be the best choice for the job. A leadership development plan helps identify the right quality mix and nurture employees over time until they’re ready to run the organization themselves.
4. Discover the perfect leadership style
Identifying the best leadership practices for individual employees can be challenging enough, and can become exponentially harder when you take the entire organization into account. Creating a company-wide leadership development plan can actually help pinpoint the best leadership styles across the organization and individual teams.
5. Make better decisions
An organization with great leadership works at its best. The ideas flow, projects get done, and leaders create a collaborative environment that fosters questions and suggestions. What do these characteristics add up to over time? Better decision-making and a thriving organization.