SALT LAKE CITY, June 20, 2013 /PRNewswire/ -- The need to create a pipeline of future leaders is at an all-time high according to leadership development firm Zenger Folkman. The company is providing a no-cost webinar to help attendees learn how to accomplish this goal on June 26, 2013.
For the last decade, there have been warning voices about the high percentage of corporate leaders in their late 50's or early 60's, Zenger Folkman executives have noted. Then came the recession of 2008 and 2009, with many executives postponing retirement. At the same time, companies pulled back on hiring as companies continued to tighten their belts. Turnover has declined as people have stayed in their current positions to avoid risk. These forces are driving a growing level of urgency for a pipeline to develop new leaders; however, organizations need to accomplish this vital goal with care.
"The leadership pipeline is important as a means of creating a more systematic and visible way to identify candidates for succession planning as eventual replacements for the key executives in a firm," says Jack Zenger, CEO of Zenger Folkman. "Every indication we see is that this phenomena is becoming more urgent for nearly every organization right now."
Traditionally, many organizations have not been successful in the creation of leadership pipelines. As Zenger Folkman examines research from companies that have been highly successful, however, they identified the core steps that each of them took:
- They each developed a simple, non-bureaucratic system.
- The leadership pipeline is owned by the senior leadership team.
- Their managers were significantly more involved in people development.
- Their greatest pay-offs were from a good competency model and its ability to predict future success and to air in the development of leaders.
- Their pipeline relied on multiple inputs such as: self-nominations, greater numbers of participants, and early stage development.
"The big question most companies have is how to avoid putting a pipeline in place that primarily moves paper, and ultimately dies of its own weight and bureaucracy," said Joseph Folkman, Zenger Folkman President. "Today's companies need to develop a system that truly and reliably produces more talented leaders. The steps we are offering are proven, and we know with a certainty they will help to produce a successful pipeline."
To learn more about creating a successful leadership pipeline, readers can register for Zenger Folkman's free June 26 webinar, Developing Your Leadership Pipeline, here. For more information on the findings and how to incorporate them into a leadership development plan, visit www.zengerfolkman.com.
Zenger Folkman is the authority in strengths-based leadership development. Their award-winning programs employ research-based methods that improve organizations and turn good managers into extraordinary leaders.
SOURCE Zenger Folkman