You know about your sales pipeline – but what about your leadership pipeline?

The 2021 Global Leadership Forecast found that developing leaders is now the number one problem keeping CEOs awake at night.

In fact, CEOs believe less than 50% of critical roles can be filled by the current generation of leaders.

This presents an incredible opportunity to supercharge leadership capacity from within. 

A strong leadership pipeline motivates professionals to blast forward in their careers. But it’s far more than just a ladder for high-potential employees to climb – developing leaders from within energizes the entire workplace, pumping up talents, fulfillment, and growth.

Before we get into specific strategies to nurture these stars of tomorrow, let’s talk about the benefits of leadership development programs – which are just too convincing to ignore.

Benefits of Internal Leadership Development

An effective leadership development program has the power to lift up everyone in your organization – not just the top performers earmarked for promotion. 

It actually has a trickle-down effect on morale, productivity, commitment, and burn rate of all other staff – and the data reflects this.

The 2021 Global Leadership Forecast found that companies with internal development programs have higher-quality performers in leadership positions, as you might expect. But they also have a significantly stronger pipeline of ambitious, next-generation leaders primed for future promotion.

Another study found that 66% of employees said they would prefer to be managed by someone who was promoted from within their company.

35% said they had quit or contemplated quitting after they were passed over for a leadership role that went to an outside hire – that’s a huge chunk of your workforce that you risk losing, or at the very least upsetting.

The Harvard Business Review also surveyed over 400,000 U.S. workers in 2018. 

They found that when staff believe internal promotions are managed effectively, they’re more than twice as likely to put in extra effort at work and plan a long-term future career with their company. 

Those same team members reported higher levels of productivity, greater commitment to the company, and better relationships with their (internally promoted) managers.

And if these numbers aren’t dazzling enough, here’s what else developing leaders can bring to the table:

Leaders Provide Vision and Direction

As opposed to a manager who simply dishes out tasks, leaders paint a picture of what’s possible. 

They inspire and engage their co-workers to be part of something bigger than simply achieving corporate goals. 

They have the ability to unite individuals into high-functioning teams around a shared purpose. 

But at the same time, good leaders also help to set priorities and develop strategies to transform vision into reality.

Leaders Are Innovative and Unafraid of Risk

Leaders are proud disruptors who embrace change, and they encourage others to be the same.

Innovation is their mantra. 

They’re also not afraid of failure. Quite the opposite – they view failure as a possibility to learn and an opportunity for development.

Leaders Inspire and Motivate

Leaders help others stay focused and committed to shared goals. 

They become role models, cheerleaders, and coaches, rather than taskmasters. 

They are there when needed but allow others to take the reins and the credit for their own growth.

They encourage without micromanaging and allow their team to define their own path towards success.

Leaders Know How to Deliver Value

Leaders are self-aware, in tune with their superpowers, and know how to deliver value. 

They work actively to develop their unique and differentiated personal brands and build trusting relationships with influential networks.

“Strong brands know their values and passions, they have documented their goals, and they’re fully aware of their superpowers – their signature strengths.”

Digital You, Real Personal Branding in The Virtual Age, William Arruda

Leaders Are Committed and Engaged

Leaders work to build their future within the organization. 

They are committed to their own success and the success of the organization.

They don’t need short-term wins to stay engaged and motivated. Instead, they focus strategically on long-term goals.

Effective leaders will live and breathe the culture and values they are steeped in at work – but only if they feel supported and valued in return.

Leaders have the magnetism, digital networks, and capacity to become brand cheerleaders. This is part of their DNA as professionals with solid and recognizable personal brands.

When you champion professionals through an internal leadership development program, they naturally engage their superpowers to boost their organization’s brand too.

How to Develop Leaders in Your Organization

Now that we know why developing leaders internally is so important, let’s get into the ‘how’ of an effective leadership development strategy.

Here are 9 ways to transform your star team members into your organization’s future charismatic leaders:

1. Praise All Achievements, No Matter How Big or Small

There are many ways to develop leadership potential, but one of the most potent is the magic of positive reinforcement. 

Praise builds trust and amplifies positive energy. It’s an incredible motivator.

Good leaders never take contributions or accomplishments for granted. It helps to express gratitude often – and even better if it’s in front of other members of your team.

Acknowledging and valuing team members’ hard work results is a big boost in employee confidence, encouraging them to step outside their comfort zones to take on new challenges and risks.

The next time you see someone in your team performing well, give them a shout-out in front of their colleagues. It’s a win for them, and for your team as a whole.

2. Acknowledge Their Potential and Help Them Realize It

If you think one of your team members has the potential to level up into a leadership role, it might be helpful to let them know about your aspirations for their future career success and growth.

By helping them plot their professional journey, you can figure out the optimal blueprint for their development.

Formal training is one option, but you might also offer them a new and challenging project that gently pushes them out of their comfort zone. 

By giving them an opportunity to take more responsibility and prove themselves, they gain both technical prowess and a big dose of self-confidence.

3. Focus On Your High Potential Employees (and Create More!)

Like most high-achievers, high potential employees consistently outshine their colleagues in almost every aspect of their working life. They deliver better quality work, often ahead of time with minimal supervision.

CEB research shows HiPos “generate 91% more value for their employers and put in 21% more effort than their peers.” 

But they don’t stop there. 

HiPos possess an innate understanding and commitment to their company’s culture and values, instinctive leadership qualities, and an unrelenting thirst for personal growth and development.

HiPos are on a mission. They don’t hope for promotion, they expect it, and they pursue their ambition doggedly.

And here’s the best part – everyone in your company has the potential to be a HiPo.

By developing high-potential employees, you acquire an entire arsenal of unique skill sets and supercharge your leadership pipeline at the same time.

4. Don’t Micromanage (Encourage Both Success and Failure)

Micromanagement stifles creativity and innovation. It prevents team members from taking ownership of their work.

To help team members flourish into their best professional selves, they need the right set of tools as well as feedback from management.

But they also need to be able to make mistakes, own them, and learn from them.

Mistakes are crucial for development, and consistent failures coupled with effective protocols for addressing and correcting those failures are extremely transformative. 

When team members are given autonomy to fail, they develop potent critical thinking and problem-solving skills.

Remember, diamonds are forged through selective pressure, not delicate design.

5. Include Team Members in Strategy Meetings

For future leaders to thrive, they need insight into how current leaders plan and work. Including them in strategy meetings is a great way to provide this insight.

By seeing how the current leadership team interacts, they can start to understand how to work towards realizing the vision for the company. 

Team members who are encouraged to contribute their ideas and perspectives will feel heard, valued, and respected. 

By being involved in the decision-making process, they are more likely to become invested in achieving the organization’s goals and their role in its success.

This experience builds trust and rapport between current and emerging leaders and will provide them with the ownership of their future.

6. Develop Personal Brands and Soft Skills

Potential leaders have something special to offer—their unique personal brand. 

They may not yet be fully aware of their superpowers, but they are always willing to be themselves and show up authentically. That’s a fantastic first sign!

“Your personal brand is based on authenticity. It’s real; it’s genuine; it’s what makes you unique. It includes your values, passions, “superpowers” and even quirks.”

Stand Out: Boost Your Personal Brand, Ora Shtull

By integrating soft skills into their management style, you set the stage to uncover their personal brand.

Sometimes known as ‘interpersonal’ or ‘noncognitive’ skills, soft skills are integral for interacting, managing, and communicating effectively with others.

Soft skills are a telltale sign of great leaders and are invaluable for managing professional relationships, building rapport between teams, and supporting team members with their common mission – your organization’s success.

Because the personal branding process requires a lot of self-reflection, a leader who pursues soft skill development is well on their way to building a strong and authentic personal brand.

By communicating effectively, they can stand out and make their value known to other leaders in the company. Using a combination of soft skills and their own personal brand attributes, these future leaders demonstrate their unique skills and use them effectively to rally their teams to achieve stellar results.

7. Lead By Example

Future leaders need someone to look up to for inspiration.

They need to know what great leadership looks like in action and the magic that it can accomplish.

As a senior executive or company owner, you are the role model that your team looks up to. Think about the qualities that you would like them to emulate and let these shine through you.

Teams respond to leaders who are confident and decisive but at the same time humble and open-minded. They appreciate integrity, kept promises, and mutual trust and respect.

Your input is invaluable to the development of future leaders. Any mentorship, feedback, praise, and encouragement that you can provide is likely to supercharge and empower them to succeed.

By setting an example, you’ll inspire others to follow in your footsteps and become great leaders in their own right.

8. Keep Raising the Bar

Those who aren’t challenged quickly stagnate.

Potential leaders are hungry for challenges and are always willing to take on more responsibility.

By constantly raising the bar and giving them every opportunity to stretch their wings and prove themselves, you smash the perceived limitations on what they can achieve.

This may mean asking them to take on more demanding projects, or stepping outside their comfort zone into a role they’ve never tackled. 

When you provide opportunities for growth, you also help to develop the skills and confidence that your future leaders will need to rise to the top.

9. Protect Them from Burnout

The 2021 Global Leadership Forecast found that leaders are burning out at faster rates than ever before.

Nearly 60% reported that they feel used up at the end of the workday, and these feelings of exhaustion greatly increase the probability of leaders leaving for other opportunities.

It’s important that high-potential team members and future leaders in particular are protected from burnout.

Today’s CEOs and HR professionals are placing a higher focus on strategies such as flexible work arrangements (WFA), self-care programs, more diverse and equitable workplaces, and workload scheduling.

While prolonged work schedules and unrealistic manager expectations are some of the greatest causes of stress in the workplace, so too is the lack of opportunity for growth and advancement.

Practicing open communication to discuss their goals and aspirations and providing constructive feedback on their performance does two things:

• It reassures emerging leaders they have a defined career path within your organization, and
• It demonstrates to them that you have their back and that you’re there to help them succeed.

Are You Ready to Boost Your Leadership Pipeline?

There has never been a more crucial time to fill your leadership pipeline with talented star performers.

Developing leaders doesn’t happen overnight, and often requires months if not years of effort to achieve.

But the long-term benefits of developing leaders who are ready to apply their personal brand to your organization’s brand and corporate culture far outweigh the initial cost and effort required.

If you’d like to nurture your top performers and turn them into leaders, get them started with BrandBoost, an A.I.-enhanced digital coach that guides your talent through their personal brand discovery. 

BrandBoost is an effective way to help your team understand what makes them unique, maximize their skillset, and elevate those qualities to leadership status. Self-awareness is the first step to uncovering your personal brand and building valuable leadership skills.