But don’t get too comfortable. Change is inevitable; complacency is your worst enemy. To make your 2016 quota, you must build a leadership pipeline. This will ensure current and future functional leaders can perpetuate your company’s success.
How do you build this pipeline?
First, through a sustained effort to keep your people up to speed. Second, by identifying and grooming the next round of candidates for key leadership positions.
Talent development and succession planning are part of our 7-Step Talent Strategy Methodology. (You can read all about it in our latest research report.) In future posts, we’ll tackle steps 1-5: profiles, assessments, sourcing, hiring, and onboarding. Today, we’ll explain how to optimize the talent you have.
Your functional leaders determine whether your corporate strategy will succeed.
Make Talent Development an Ongoing Affair:
Your functional leaders determine whether your corporate strategy will succeed. But they can’t be effective in a competitive marketplace without the proper input. They must keep current with changing market conditions and professional best practices.
Performance management should be a collective effort. HR, learning and development, sales enablement, and middle management should all be involved. Otherwise, the annual talent review process is insufficient. So are the tools needed to develop future leaders.
Create an individual development plan for each functional leader. Design the plan to correct or reinforce the necessary behaviors.
Where to Begin:
Evaluate your current talent development efforts. Identify what’s lacking.
- How do we keep a pulse on our talent development needs?
- How do we ensure our talent is developing as fast as the market, buyers and competitors?
- What sales training program do we need in order to develop the competencies/skills/knowledge of the team?
- What sales coaching program do we need to reinforce the right behaviors?
- What performance management program do we use to develop existing talent?
- How do we ensure our talent development results in sustained changes in behavior?
- How do we make use of individual development plans to develop talent?
- What role does mentorship play in our talent development?
- How do we measure the impact of our talent development program?
Now that you know what needs to be done, are you ready to execute? Register for our “How to Make Your Number in 2016” Workshop. You’ll have the plans, programs, and tools you need to build a robust leadership pipeline. And you’ll be miles closer to achieving your revenue goals.
Have a Succession Plan in Place
One of your key leaders could leave your organization at any time. This disruption could cripple your ability to achieve your revenue objective. Are you ready to backfill your company’s most critical roles?
Identify and develop candidates with the potential to fill key leadership positions in the future.
Where to Begin: Determine your requirements, pinpoint any procedural gaps, and map your succession plan in detail.
- What are the key leadership positions for us this year? Next year? Five years from now?
- What performance management program do we use to develop future leaders?
- How do we identify internal candidates to place on the succession plans?
- How do we constantly test candidates in order to assess their readiness to assume their next role?
- How do we communicate our succession plans?
- How do we transition candidates when the timing is right?
With Strategic Alignment, Everything Falls Into Place:
Your talent strategy must be part of a broader effort to achieve strategic alignment. First comes market research. Followed by corporate, product, marketing, and sales strategies. Talent is the last link in the chain. We call this the Revenue Growth Maturity Model.
Once your talent strategy is aligned with the rest, here’s what you can expect:
- Your talent function will be proactively engaged with the company leadership.
- Every key role will have a succession plan defined.
- Everyone will have an actionable, and active, development plan.
- Talent will be a competitive strength for your company.
- A-players you recruit will want to stay. And they’ll be looking to recruit other A-players.
Are these the results you’re looking for? Then register for our “How to Make Your Number in 2016” Workshop. We’ll help you get your house in order. Optimize your talent. And grow your revenue year after year.