How to Strengthen and Diversify Your Leadership Bench
It is not uncommon for perceptions between executives and employees to be vastly different. One area where this gap shows up quite vividly is in the area of professional development.
A recent report indicates that 84% of employees expect employers to provide the training and development they need to stay relevant. Unfortunately, slightly more than half of the 800 executives who were surveyed, said that current learning and development programs were a ‘waste of time’.
Further, the report goes on to say that only 32% of employees are satisfied with the leadership development programs their employers provide.
When it comes to professional development, there is clearly a disconnect between what employees want and what organizations are offering.
Build your Talent Bench
As you look at your current leadership team, and the pipeline of talent that will eventually fill those roles, how deep is your pipeline? Is it visibly diverse? If the diversity metrics of your talent reviews look like a roller coaster - where one year it's up, and the next year it's scary - the sad reality is, the ride will only repeat itself without the proper talent development strategy and tools.
Now is a good time to scan your talent pool for people who have been identified as top talent to ensure there is a formal plan to develop and grow them.
The cost of losing a valued employee will likely be greater than the cost of investing in a leadership development program.
Avoid Regrettable Losses
Retaining high-performing talent and building a diverse pipeline of leaders requires a two-fold strategy.
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If you are an HR manager, you need tools and resources that help you:
- Develop and retain talent identified in succession planning processes
- Increase retention of diverse and underrepresented talent pipelines
- Develop and coach first-time and emerging leaders
- Offer leadership development that is culturally aware and psychologically safe for underrepresented communities
For motivated professionals, you need developmental opportunities that help you:
- Navigate complexity and maximize team cohesion, performance and engagement
- Expand strategic and critical-thinking skills and ability to implement change and innovation
- Build relationships and strengthen influence with various organizational partners and stakeholders
- Expand your network of learning from peers in various industries and organizations
At KEIRUS, we help people grow confidence, gain awareness of self and others, and lead in a way that produces transformational outcomes. Our Power of Inclusive Leadership training ensures that organizations create and sustain an inclusive culture, and our Transformational Leadership Mastermind is an effective way to invest in the growth and development of high-performing talent.
If you want to stop the revolving door of talent in your organization, it is time to implement a comprehensive solution. These steps are even more critical if you are not satisfied with the current demographic composition of your leadership team. Black, Indigenous, People of Color (BIPOC), women, and other underrepresented talent are often considering additional factors beyond pay and promotion when trying to decide if they should stay or leave a job. Marginalized communities face microaggressions and discounting on a daily basis. If a new opportunity arises where the company appears to be further along the DEI evolution, or if they have the chance to join a more diverse team, then suddenly, the new job offer becomes even more attractive.
Employees want to work for companies who will invest in their growth, and they want to be part of organizations who value diversity and inclusion so that when they come to work everyday they not only belong, they are safe to contribute and do their best work.
How Do You Want To Transform Your Workplace?
Employee Resource Groups and DEIB Councils
Establish and sustain an ecosystem for DEIB that nurtures innovation, engagement and productivity.
Human-Centered Education and Awareness
Educate and engage employees through interactive learning experiences that help you create a culture of C.A.R.E.
Attract, Develop and Retain Talent with a DEIB Lens
Create and sustain a diverse and inclusive workforce by equipping leaders to integrate DEIB across all talent practices.
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