By Bill Benson and Jeff McGraw
Tis the season to look ahead to next year! The 2025 trend most discussed this year relates to leadership development and building leadership culture. Creating a center of excellence for leadership development will naturally improve leader retention rate.
One of my references this year was a podcast conducted by Korn Ferry, which discussed results from their survey titled Workforce 2025. The survey cites that 67% of employees would stay in their role if they knew they would be engaged in a leadership development program. The survey also cites that less than 30% of employees believe their current programs are sufficient. Data from Gartner cites that 75% of HR leaders indicate that managers feel overwhelmed, and Gartner data further points out 70% of managers feel current leadership programs are insufficient to tackle future challenges.
The large companies in this survey benefit from training and development budgets and functions. Here are seven strategies that mid-sized and smaller companies can easily employ.
- Internal Leader led Training
- Peer-to-Peer Training: Identify senior leaders or high-performing managers to mentor and coach emerging leaders.
- Lunch-and-Learn Sessions: Host informal training sessions where experienced leaders share insights or lead discussions on leadership topics.
- Job Shadowing: Allow aspiring leaders to shadow senior leaders to learn by observation and participation.
- External Resources
- Outside Coaches can be a highly effective way to provide structured development. We are happy to make introductions to some great coaches!
- Leadership Development Workshops: Enroll employees in workshops or conferences focused on leadership skills. Tony Cortese at InSight Action Learning offers various in-house programs and individual seats at periodic leadership development training classes.
- Utilize assessments for team development. We like Pondera’s PVA and Management Integration training. DISC and Predictive Index tools are also effective in developing leadership skills.
- Use Free or Low-Cost Content
- Books and Articles: Create a leadership book club with recommended readings. One suggestion – Lead to Win by Carla Harris, available audio or print on Amazon.
- Podcasts and Videos: Curate free podcasts or YouTube videos on leadership topics for employees – great content exists for no cost.
- Webinars through professional organizations.
- Create Leadership Experiences
- Stretch Assignments: Assign projects that challenge employees to lead cross functional teams, manage budgets, or make strategic decisions.
- Committee Leadership: Encourage employees to lead committees or special initiatives within the organization.
- Rotational Programs: Rotate employees through various roles to build cross-functional leadership skills.
- Partner with Other Organizations
- Industry Associations: Collaborate with trade organizations for leadership workshops or certification programs.
- Community Programs: Engage in leadership programs offered within the community. We highly suggest programs through the Family Business Alliance.
- Encourage Self-Directed Learning
- Customized Learning Plans: Help employees set personalized development goals and provide resources to meet them.
- Access to Resources: Provide stipends for employees to purchase training materials or attend courses of their choice.
- Recognition for Development: Celebrate employees who proactively seek and complete leadership training.
- Foster a Culture of Continuous Feedback and Learning
- 360-Degree Feedback: Implement a feedback mechanism to help employees understand their leadership strengths and weaknesses.
- Coaching Culture: Train managers to provide regular coaching to develop team leadership potential.
- Instill coaching, mentoring, and leadership development as key deliverables for each manager/leader within the organization.
Improving your approach to leadership development can be a critical aspect of your Employee Value Proposition (EVP). Other trends hitting this year’s radar included AI, other workplace trends, including Hybrid work and skills-based hiring. We will explore some of those topics next year.