I used to be shocked when so-called “forward-thinking” organizations couldn’t say who would be leading their organization in ten years. Worse than that, they had no idea who within their organizations would even be a good candidate. They were essentially “rolling the dice” on the future of their organizations every single day.
I’m not surprised by any of that these days because it’s actually very common. Many companies invest millions in new technology and products. However they invest precious little in developing their next generation of leaders. They hope for the best. They assume “when the time comes” that the next generation of leaders will show themselves.
When it comes to leadership, hoping and assuming are very poor strategies.
To build the next generation of leaders, organizations need a smart, long-term plan. This plan should focus on spotting, coaching, and empowering future leaders. Here’s a structured framework to ensure your organization has a strong pipeline of future leaders.
1. Identify High-Potential Employees
Not everyone is suited for leadership. Organizations should establish criteria to recognize employees with leadership potential. Look for:
Strong problem-solving skills
Emotional intelligence
Initiative and accountability
Ability to inspire and influence others
A willingness to learn and accept new challenges
Action Steps:
Use performance reviews and feedback to spot leadership traits
Encourage nominations from peers and managers
Conduct leadership assessments and regular 360-degree feedback
2. Provide Leadership Training and Development
Training should go beyond technical skills to focus on leadership competencies.
Action Steps:
Offer leadership development programs, mentorship, and coaching
Encourage participation in cross-functional projects
Provide soft skills training, such as communication and decision-making
3. Create Mentorship & Coaching Opportunities
Pairing emerging leaders with experienced mentors accelerates growth and fosters knowledge transfer.
Action Steps:
Develop a structured mentorship program
Encourage senior leaders to guide and support high-potential employees
Promote reverse mentoring to allow junior employees to share new insights
4. Encourage Real-World Leadership Experience
Leadership cannot be learned in theory alone—it must be practiced.
Action Steps:
Assign stretch assignments and leadership roles in projects
Offer job rotations to expose employees to different business areas
Provide opportunities to lead meetings, initiatives, or small teams
5. Foster a Culture of Feedback and Continuous Learning
Ongoing feedback helps future leaders refine their skills and adjust their approach.
Action Steps:
Implement regular check-ins and coaching sessions
Encourage self-reflection and adaptability
Provide access to executive leadership for open discussions
6. Align Leadership Development with Organizational Goals
Ensure that future leaders are prepared to drive the company’s vision forward.
Action Steps:
Clearly communicate company values and expectations
Develop leadership competencies that align with business objectives
Measure the impact of leadership development initiatives
7. Recognize and Reward Leadership Growth
Acknowledging leadership efforts motivates employees to develop further.
Action Steps:
Offer promotions or new leadership roles when ready
Recognize leadership contributions through incentives and public appreciation
Build a clear career progression path for emerging leaders
8. Create a Succession Planning Strategy
Leadership development should prepare individuals for critical roles in the future.
Action Steps:
Identify key positions and potential successors early
Build personalized development plans for successors
Review and update the succession plan regularly
By systematically investing in leadership development, organizations can build a strong pipeline of capable leaders who will drive future success. Long-term successful organizations know that the best time to develop their next generation of leaders is today.
If you leave leadership development to chance, then there is a good chance that your organization will lose potential leaders that one day you’ll wish were still on your team. I’m betting you really don’t want that to happen… so don’t.
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Such an important issue! I work with Not-for-Profits, where the percentage of succession plans is even lower AND often very few employees, making leadership development an extra challenge. In many cases, promotion from within isn’t even a possibility yet they have no plan at all for filling the leadership gap during the 6-9 months it will take to recruit well. As well, most board members are unaware of the availability of trained Interim Executives or the benefits they bring.
With regard to real world leadership experience, I suggest adding encouragement to join not-for-profits boards or board commmittees, and to volunteer with the relevant industry association.
That is a great suggestion. The experience gained, even as a volunteer, maybe especially as a volunteer, can help prepare leaders in the “for profit” better than most leadership training ever will.