Chief Executive magazine identified that the CEOs of leading public companies (P&G, IBM, GE, 3M, Southwest Airlines) commit a higher priority to leadership development. This is in spite of more complex and distracting environments, as well as added pressures for short-term financial results.
Some key findings:
- Hire on attitude;
- Install a systematic processes for leadership development;
- Adhere to core values;
- Embrace fast-paced global change;
- Rotate development assignments every 4 years, in order to experience failure (which is the best teacher);
- Link individual development to leadership performance metrics (EBITDA, Gross Profit, Income Growth, Customer Satisfaction, Costs, Stock Price, Market Share).
Does your organization have a systematic leadership development process?
