Cultivating the Next Generation of Leaders (Part 2)
Part I of this series addressed key elements of a successful high potential program at a conceptual level. In Part II, we will address some of the specific issues and choices that executives face when designing and implementing such a program.
Companies that decide to focus on developing their high potential leaders do so for a variety of reasons:
- A new leader coming into the organization or a change in strategic focus may significantly alter the leadership model and require the accelerated development of talent.
- The retirement of executives in significant roles may prompt a board to focus more intensively on succession planning.
- The loss of highly talented individuals to the competition may spur a management team to evaluate how its development programs can enhance its retention strategies.
However varied the circumstances, the fundamental need is the same: develop talent in such a way that the company has the wherewithal to execute its growth strategy.