{"id":24103,"date":"2024-01-24T14:43:50","date_gmt":"2024-01-24T14:43:50","guid":{"rendered":"https:\/\/www.joinc12.com\/?p=24103"},"modified":"2024-08-28T13:09:18","modified_gmt":"2024-08-28T13:09:18","slug":"identify-and-develop-executive-talent-in-your-company","status":"publish","type":"post","link":"https:\/\/www.joinc12.com\/article\/identify-and-develop-executive-talent-in-your-company\/","title":{"rendered":"Staff to C-Suite: How to Identify and Develop Executive Talent in Your Company \u2013 Part One"},"content":{"rendered":"\t\t
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There is an urgent need in business today for leaders to identify leadership potential and to develop executive talent. Every day, <\/span>10,000 baby boomers reach retirement age<\/span><\/a>, leaving a leadership vacuum in many companies. <\/span>A recent TeamStage report showed<\/span><\/a> that nearly 80% of companies report a leadership development gap, only 5% of organizations have fully implemented leadership development programs at all levels, and 42% of companies lack a leadership competency framework on which to base their development programs. <\/span>A McKinsey & Company study found<\/span><\/a> that 95% of employers believe their companies are inefficient in managing talented employees. <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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The need to identify leadership potential is as old as the Bible. In Exodus 18<\/a>, Moses was handling all the disputes of the Israelites by himself, and he had reached a breaking point. Jethro, Moses\u2019s father-in-law, saw this burden and intervened. He told Moses that what he was doing was \u201cnot good\u201d and that the responsibility was \u201ctoo heavy\u201d for him alone<\/a>. Jethro encouraged Moses to identify capable leaders and to establish a leadership hierarchy where smaller disputes could be handled by others.\u00a0<\/p>

This two-part article series will examine how to identify leadership potential and develop executive talent. This article will focus on the mechanics of leadership identification. Our next article will focus on leadership development methods.<\/span><\/p>

The need to identify executive talent in your business has never been more urgent\u2014but it will not happen on its own. You must carefully cultivate a leadership pipeline to prepare for future leadership needs in your business.\u00a0<\/span><\/p>

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What Is Executive Talent Development?<\/h2>

Executive talent development is <\/span>the process of identifying, cultivating, and preparing individuals for leadership roles.\u00a0<\/b><\/p>

It is a proactive process. Managers must take the lead both in identifying leaders with leadership potential and in creating development pathways to improve their competencies. When you <\/span>cultivate a workplace culture where growth and learning are encouraged<\/span><\/a>, you will be on your way toward building a robust leadership pipeline.\u00a0<\/span><\/p>

Executive talent development is crucial for all organizations:<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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To prepare the business to scale and grow. <\/b>A capable executive leadership team allows your business to achieve healthy growth and take advantage of favorable market conditions.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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To equip leaders for inevitable role changes.<\/b> Investing in continuous leadership development will build a capable team that is growing along with the company.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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To mitigate the complexities of succession planning. <\/b>Developing a leadership pipeline of qualified leaders ensures that the organization has a pool of strong candidates.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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These kinds of rewards make the affirmative case for developing executive talent. As employees grow in their leadership abilities, your company becomes more capable of handling business complexity and more resilient in the <\/span>face of change<\/span><\/a>.\u00a0<\/span><\/p>

On the other hand, those who neglect to invest in talent development face serious risks as the company\u2019s leadership competence remains stagnant. A failure to address executive talent development may leave companies with a leadership vacuum should key leaders retire or decide to move on.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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How to Identify Leadership Potential Inside Your Company<\/b><\/h2>

As you seek to <\/span>develop your leadership pipeline<\/span><\/a>, you must first consider your current talent pool. Look around your company. There are likely people who exhibit the potential to grow into the future leaders your company needs.\u00a0<\/span><\/p>

Talent assessment is both an art and a science. While you might be tempted to invest in people who exhibit high performance or those who are likable, these traits on their own do not necessarily indicate leadership potential. Sometimes, high performers are best if left to thrive in their current positions. Other times, leadership potential may be manifested in employees who are slightly disagreeable because they are willing to take unpopular contrarian positions.<\/span><\/p>

Over the years, leaders in organizational development have developed tools to help business leaders identify leadership potential in their companies. We will explore the Nine-Box Talent Grid<\/a> and the 5Cs assessment<\/a> below.<\/span><\/p>


Evaluate Performance and Potential with a Nine-Box Talent Grid<\/b><\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Start by looking at your current talent pool of talent for employees who exhibit both performance and potential:<\/span><\/p>

Performance: <\/b>Who can you depend on to get the job done? Who is admired for their productivity? Who is thriving in their current role? Who consistently hits their targets? Who consistently produces work with excellence? Who has demonstrated an ability to learn and take on increasingly complex projects? These are your <\/span>high performers<\/b>.<\/span><\/p>

Potential:<\/b> Who looks beyond their job to bigger issues and\/or opportunities in the company? Who naturally takes on the role of a coach to help others succeed? Who fights for team health? Who exhibits maturity in tough situations and is cool under pressure? Who consistently makes good decisions? Who is willing to say the hard things that need to be said? These are your <\/span>high potentials<\/b>.<\/span><\/p>

The <\/span>Nine-Box Talent Grid<\/span><\/a> is a tool used by senior leaders to assess their existing talent pool. Leaders will evaluate each employee on the x-axis to indicate their current level of performance and on the y-axis to indicate their current level of potential. Those who exhibit both performance and potential will end up in the top right quadrants of the grid. These are the employees you will want to invest in with an executive talent development opportunity.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Each of the nine boxes indicates different categories to identify the employee\u2019s current leadership potential, along with suggested training methods to use with each one. You might invest in development opportunities for some employees and offer stretch opportunities for others.\u00a0<\/span><\/p>

It can be easy to mistake an employee\u2019s current performance for their potential, but <\/span>performance and potential do not always match one-to-one<\/b>.\u00a0<\/span><\/p>

An individual who is performing well may not have the potential to serve in a leadership role, and someone with low to moderate performance may be underperforming because their true leadership gifts are not being realized. It is up to you as the leader to assess both performance and potential when you are considering providing someone with an executive talent development opportunity.\u00a0<\/span><\/p>

Determine Cultural Alignment with the 5Cs Assessment<\/b><\/h3>

Executive leaders determine the vision and direction for your company. They are the standard-bearers of your cultural values. Therefore, your future executives should be aligned and motivated by your company\u2019s mission, passionate about your company\u2019s vision, and committed to your core values.\u00a0<\/span><\/p>

Once you have identified an employee with high potential and performance, you must determine whether they exhibit alignment with your <\/span>company culture<\/span><\/a>.\u00a0<\/span><\/p>

The 5Cs assessment<\/a> is a tool you can use to determine if a high-potential employee is a good fit for future leadership development. Each employee is ranked on a scale from one to ten according to the following characteristics:\u00a0<\/span><\/p>